Cultural Entrepreneurship and Disruptive Blockchain Applications in Vietnam: The Status Quo and the Transition Towards a Digital Economy

Although blockchain technology is broadly known as the technological underpinning on which cryptocurrencies are developed, enhancing trust, security, transparency and the traceability of data shared across a business network, blockchain real business applications are mainly limited to financial services. Recently, many innovative ideas in alignment with cultural entrepreneurship in startups have attempted to amplify the areas of blockchain utilisation. This chapter aims to investigate the status quo and the latest development of blockchain technology applications in the Vietnamese business context. Based on archival documents and interview data from several blockchain startups, our study highlights the disruptive effects and benefits that blockchain startups could bring to Vietnamese enterprises and highlights the contributions that have been made by these digital startups to the transition towards the digital economy proposed by the government of Vietnam.