After ten months of development, as of October 2025, VBSN has successfully built six layer-1 blockchain platforms, capable of processing up to 300,000 TPS (transactions per second).
Vietnam Blockchain Service Network (VBSN) is to build a National Blockchain Infrastructure, enabling Vietnam to master core technologies, ensure data and digital asset sovereignty, improve state management efficiency, and promote private-sector digital economy growth.
The VBSN is implemented by 1Matrix, under the consultancy of Boston Consulting Group (BCG) and Vietnam Blockchain and Digital Assets Association (VBA), drawing on international experience from the European Blockchain Services Infrastructure (EBSI) and China’s Blockchain-based Service Network (BSN).
It is driven by an ecosystem including Techcombank, One Mount Group, Masterise Group, and Techcom Securities, in partnership with leading technology firms such as SotaTek, NCC, CMC Telecom, Sunteco, Amazon Web Services, True IDC, and AlphaTrue.
The system integrates various decentralization and consensus mechanisms adopted from leading global blockchain platforms, optimized for different sectors and use cases.
In the public sector, VBSN helps prevent data congestion and enhance governance efficiency in digital identity, digital assets, smart contracts, and data traceability, forming the backbone for digital government, smart cities, and financial centers. In the private sector, VBSN is being researched by partners including MSB, SHB, T&T Group, and Dragon Capital to strengthen data management, improve system efficiency, and support new digital business models.
VBSN achieves speeds of up to 300,000 TPS (transactions/second), with stable performance between 20,000 and 40,000 TPS depending on usage. Networks for traceability, insurance, and micropayments operate steadily around 50,000 TPS, peaking at 300,000 TPS, while the micropayments sector averages 10,000 TPS and can exceed 100,000 TPS. Applications in banking, digital identity, healthcare, and education reach up to 10,000 TPS.
VBSN was officially published at the 1st Congress of the Government Party (2025-2030 term) on October 13, 2025. At the exhibition, General Secretary To Lam visited the VBSN booth and listened to a presentation by Mr. Phan Duc Trung, Chairman of VBA, Chairman of 1Matrix.
“This is an opportunity to apply blockchain technology to boost Vietnam’s labor productivity and, in turn, increase national revenue”, General Secretary To Lam said.
Mr. David Chan, Managing Director & Partner, BCG.
On behalf of BCG, the main consultant of VBSN, Mr. David Chan, Managing Director & Partner, stated that the development of VBSN has inherited and leveraged the advantages of leading global blockchain service networks such as EBSI and BSN. This ensures global connectivity and interoperability while optimizing DLT to flexibly address challenges in security, scalability, and decentralization, as well as reducing the operational costs of blockchain applications.
