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akaChain of FPT is recognized as ‘Make in Vietnam’ digital platform


On August 13rd, 2020, the Ministry of Information and Communications held the launch of blockchain platform akaChain. This is one of a series of events to introduce "Make in Vietnam" digital platforms  to implement the "National Digital Transformation Program to 2025, with a vision to 2030" that has just been approved by the Prime Minister. Deputy Minister of Information and Communication Nguyen Thanh Hung attended and spoke at the event.

The National Digital Transformation Program aims to both develop digital government, digital economy, digital society, and form Vietnamese digital businesses with global capacity. The program sets the goal that by 2025, Vietnam joins the group of 50 leading information technology countries (IDI), the group of the top 35 countries in innovation (GII). To achieve this goal, digital technology businesses are one of the factors playing a key role.

“As the lead agency for the implementation of the national digital transformation program, the Ministry of Information and Communications is assessing and selecting good digital platforms developed by Vietnamese enterprises to participate in the national DX program. For the first time, the ministry introduced blockchain platform akaChain by FPT to support enterprises in many industries to quickly build a business network,” Deputy Minister of Information and Communications Nguyen Thanh Hung spoke at the event.

The blockchain platform akaChain is one of the Make in Vietnam digital transformation platforms and solutions that helps businesses in many industries optimize operations, improve customer experience and seek new business opportunities, thereby promoting the digital economy. The outstanding point of akaChain platform is to help businesses shorten the time to deploy important operations and bring many obvious benefits to people and businesses. Specifically: (1) Automating the customer identification process - help to improve customer experience; (2) Credit scoring - help businesses accurately assess potential risks in the payment system, reduce bad debts, and help people increase access to credit programs; (3) Loyalty program - help people be served more attentively and use the awarding point system in a convenient and transparent way, helping businesses maintain a stable customer base and (4) Traceability of data origin.

The application akaChain not only helps businesses understand customer needs, standardize and automate some processes, but also limits the role of intermediaries, thereby optimizing operating costs. According to some of Vietnam's leading technology product distributors or retailers,  akaChain's credit scoring helped reduce their NPL ratio from 14% to 7%.

akaChain has been used by many customers in many industries and countries such as Masan Group (consumer goods in Vietnam); Bao Viet (Insurance in Vietnam); AIA (Insurance); VPBank (Bank), and a number of other Fortune 500 companies.

In the future, akaChain will focus on strengths related to security and transparency. In terms of research and development, akaChain will focus on completing a suite of solutions related to digital identity and traceability in the supply chain. akaChain will continue to promote the supply of products to businesses in the country and the Asia Pacific region.

Mr. Tran Dang Hoa, Deputy General Director of FPT Software (a subsidiary of FPT) shared, “As a pioneer in the field of digital transformation  working in the international environment for many years, FPT sets the mission to research, developand apply Make in Vietnam solutions. AkaChain is the platform in the set of digital transformation solutions developed by FPT,  aiming to develop the country's digital economy”.

To stimulate demand for business customers, akaChain supports digital transformation consulting package for Loyalty Care and Business Digital ID which worth USD50,000, free 1 month trial akaChain which worths 5,000 USD / month.

The establishment of akaChain is a clear demonstration of the creative capacity of Vietnamese digital technology businesses in general and FPT in particular. This is one of the Make in Vietnam digital platforms selected by the Ministry of Information and Communications to introduce and give media sponsorship to promote comprehensive and widespread digital transformation in economic and social fields which makes an important contribution to achieve the goals of the National Digital Transformation Program.