GM Vietnam Blockchain Week is an annual trade show and conference focused on blockchain technology and innovation, this year's GM Vietnam took place in Ho Chi Minh City, Vietnam last June 7-8, 2024. The event was hosted by Kyros Ventures, with Vietnam Blockchain Association as its co-host. The Bitskwela team flew from the Philippines to attend the conference, its side events, and explore the city of Ho Chi Minh. 

This conference is a significant event in the blockchain industry, particularly in Southeast Asia. It features prominent industry leaders, diverse topics, and extensive networking opportunities, making it a hub for knowledge sharing, collaboration, and innovation. 

The event boasts over 100+ notable speakers, partners, and side events. With a large attendance and growing blockchain market in Vietnam, the conference has the potential to influence the global blockchain landscape by promoting innovation, growth, and adoption in the region.

During a side event hosted by Polkadot, Bitskwela CEO Jiro Reyes was interviewed by Polkadot Insider, where he discussed the Philippine blockchain adoption and the impact of Polkadot in the region. Additionally, Reyes joined the Web3 Critical Trend report panel hosted by None Group, where he contributed insights into emerging trends and technologies within the Philippine Web3 landscape. 

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Conference Highlights

The conference commenced with a dance performance that beautifully incorporated elements of Vietnamese culture.

During the event, attendees had the opportunity to hear from speakers representing the most successful companies in the blockchain industry, such as Sandeep Nailwal of Polygon, Keone Hon of Monad, Alex Svanenik of Nansen, Thuat Nguyen of Ancient8, Kris Lai of Scallop, and more.

Interesting topics were covered in a panel discussion such as The New Wave of Layer-1 Blockchains with Dr. Sam Seo of Klaytn, Julian Tan of Sei Foundation, Kevin Ang of Aptos Labs, Thanh Le of Ninety Eight, and Justin Wu of Injective Labs as speakers. 

Thuat Nguyen (Zane) of Ancient8 and Kyros Ventures delivered a keynote of Vietnam’s Story with Kyros Ventures.

Another insightful keynote is from Alex Svanevik, CEO of Nansen, discussing ‘What the Hell Are People Doing Onchain in 2024.’

Svanevik highlighted that we now live in a multi-chain world, and presented an interesting graph showing which projects are growing, established, and dying, according to their firm's analysis. (See photo below)

The conference ended with fun quizzes and a grand raffle draw for the attendees, with an impressive set of prizes such as iPhone 15 Pro Max, Airpods, keyboard, and mouse.

Vietnam as an emerging player in the crypto landscape

Coin98 Insights' Vietnam Crypto Report 2023 highlights a year of substantial growth for Vietnam's blockchain industry in 2023, with numerous product ecosystems becoming more established. L1/L2 blockchains represented 21% of all projects, while wallets comprised 24%. 

Several projects developed by Vietnamese teams have successfully established ecosystems featuring a variety of products. A notable example is Ronin, developed by the Axie Infinity team, which primarily focuses on the gaming sector. Ronin has secured essential components for asset circulation and continues to attract new blockchain-based game projects. This created several opportunities for people in Southeast Asian countries like Vietnam and the Philippines.

The growth of blockchain gaming in Vietnam has brought significant attention to the Vietnamese market. Centralized exchanges have played a crucial role, acting as entry points for many users into the crypto market. The trading volume and user activity on these platforms have been the key indicators of Vietnam's market potential.

Moreover, the 2024 Blockchain Critical Trend highlighted a report from The Wall Street Journal that in May 2023, Vietnamese users ranked fourth globally in total trading volume on Binance, demonstrating the high level of activity among local users. 

Bringing Blockchain Events to the Philippines

Between 2021 and 2023, the Philippines emerged as a notable player in the Web3 space, driven by the surge in blockchain games. CoinGecko statistics indicate that Filipino users consistently ranked first globally in Web3 gaming interest for three consecutive years. This impressive engagement positions the Philippines as a potentially attractive location for hosting premier blockchain events, comparable to GM Vietnam.

The success of GM Vietnam demonstrates the importance of cultural integration, diverse speaker lineups, and engaging activities. These elements can create a memorable and impactful event that resonates with both local and international attendees.

Hosting similar blockchain events in the Philippines could significantly boost the country's visibility in the global blockchain community, attract international investment, and accelerate local innovation. It can also position the Philippines as a hub for blockchain development in Southeast Asia.

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With its impressive lineup of industry leaders and diverse range of topics, GM Vietnam provided Bitskwela with useful insights and connections to further enhance its presence in the blockchain community. 

Bitskwela gleaned invaluable takeaways and knowledge from its attendance and is eager to apply these learnings to the Philippines. Armed with this newfound knowledge, the Bitskwela team is excited to contribute to the growth and advancement of the blockchain community in the Philippines.

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