Vietnam Startup Day 2019 is an event to promote the development of Vietnamese and international startups organized by the Business Startup Support Centre (BSSC), which took place in August 2019. This is the biggest startup acceleration event in Vietnam, with the participation of nearly 200 startups from 12 countries and more than 100 investors. Throughout the event was a series of activities calling for investment capital from startups and the Startup Wheel contest to find the best Vietnamese and international startups with a total prize of 430,000 USD.
This year Vietnam Startup Day attracts a lot of startups operating in the field of technology with practical solutions and applications. Most of the startups joining in the event are technology startups, which account for more than two-thirds of the total attending startups. This is a significant step forward of the Vietnamese startup community, helping Vietnam access to the Industrial Revolution 4.0, which is the leading development trend of this century in the world.
Among technology startups, Blockchain startups attract the attention of most of the visitors. Blockchain, which is known as one of the main pillars of the Industrial Revolution 4.0, is the potential technology for comprehensive transparency in storage and processing information. Blockchain is the potential powerful technology that can completely provide transparent information storage and processing, and changing the global modus operandi of exchanging information between individuals and organizations. However, the applications and developments of Blockchain are still very hard in terms of both technical and human resources.
It is worth noting that the solutions of Vietnamese startups bring significant value to the community, contributing to the sustainable development of society. Most Blockchain startups in the world only focus on payment and finance. Meanwhile, Blockchain startups in Vietnam have applied Blockchain’s preeminent features such as transparency and anti-deletion, immutable information to solve practical problems such as identity verification data digitalization, and product traceability, etc. This has attracted the attention of investors, as well as government agencies in promoting development and investment in technology startups.
WOWTRACE – The pioneering start-up in Blockchain-based traceability
Agriculture is the strength and backbone of Vietnam; however, there is the fact that the biggest concern of consumers is about food origin and quality. Currently, consumers do not have sufficiently reliable information about the origin of the products, as well as the relevant food safety and hygiene certificates. By applying Blockchain to product traceability, consumers can easily access the information through their phones. The notable point of this application is the information about the origin, the journey of the product is constantly updated on Blockchain. Once the information has been updated on the Blockchain, it cannot be changed. By this way, the retrieved information is absolutely transparent. At the same time, all stakeholders in the supply chain can update information identically. Therefore, consumers’ are more confident in the products they choose because all information is provided transparently and accurately with clear and undenied responsibilities of all stakeholders.
Through Vietnam Startup Day 2019, many startups made strong impressions to the visitors for creative ideas to solve important practical problems. One typical startup is WOWTRACE – a startup honored in the top 60 international startups for applying Blockchain in product traceability. With just a smartphone, consumers can know all the information about the journey of products from the materials to finished products sold on the market shelves. What makes WOWTRACE different from other traceability solutions is that the retrieved information is completely transparent and trustworthy because it is stored entirely on Blockchain, helping consumers to be assured of the origin of the products they consume. WOWTRACE’s solution helps solve the problem of transparency and trust in the markets, assisting consumers in choosing and buying safe products with a detailed origin. Meanwhile, businesses can also expand the market and build a strong brand based on customer loyalty with WOWTRACE traceability solution.
Mr. Nguyen Duc Phuong Nam – Managing Director of WOWTRACE speaking at Vietnam Startup Day 2019
The support of the government, authorities, and the business community is a great encouragement for the startup community in Vietnam. This sign demonstrates the community’s interest in the development of young startups to nurture the growth of young businesses.
WOWTRACE: Traceability application based on Blockchain technology
WOWTRACE cooperates with Ve Que Farm to successfully implement Blockchain-based traceability for organic products. Ve Que Farm is an enterprise specializing in providing safe food products, 100% organic, without using chemicals or pesticides in planting and preserving. All Ve Que Farm products are grown with the aim of protecting consumers’ health. Therefore, the company always wants to provide consumers with the most accurate and transparent information about the origin of the products. By cooperating with WOWTRACE, customers of Ve Que Farm can access the information of products’ origin; the way products are transported, preserved and distributed to consumers with a simple scan of QR codes by smartphone. Especially, thanks to the application of Blockchain technology in traceability, the information retrieved from WOWTRACE is completely transparent, cannot be deleted, modified, or changed. By this way, consumers can get useful and trustful information, and trust in the brand.
WOWTRACE cooperates with Ve Que Farm to successfully implement Blockchain-based traceability for organic products
“Blockchain-based traceability helps us prove to customers that all the products of Ve Que Farm are completely safe and have clear origin based on transparent and immutable information ”- Ms. Le Thi Bich Thuy, Founder and CEO of Ve Que Farm.
To apply Blockchain’s superior features to solve the problem of transparency and reliability in traceability, currently, WOWTRACE has successfully implemented the application of traceability by Blockchain for agricultural products and fast-moving consumer goods such as mango, chocolate, organic food, etc. To support the Vietnamese businesses in building brands through bringing transparent information to customers, WOWTRACE provides free advice and guidance to businesses, startups, and agribusinesses on the implementation of solutions and traceability processes. WOWTRACE is also supporting businesses to deploy a completely free solution with the number of stamps retrieving up to 5000 stamps and more depending on the nature of the product of the business.
About WOWTRACE: https://www.wowtrace.io/