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KardiaChain CTO on Bringing the Entire Vietnamese Population to Blockchain, Crypto Predictions and More

KardiaChain CTO on Bringing the Entire Vietnamese Population to Blockchain, Crypto Predictions and More
KardiaChain CTO on Bringing the Entire Vietnamese Population to Blockchain, Crypto Predictions and More

CryptoSlate recently had the opportunity to speak with Huy Nguyen, CTO and Co-Founder of the interoperable blockchain platform, KardiaChain.

Before founding KardiaChain, Huy spent 10 years working at Google, building large-scale distributed systems. He studied Electrical Engineering and Computer Science (EECS) at UC Berkeley.

Interview with Huy Nguyen, KardiaChain CTO & Co-Founder

What is your professional background and how/when did you get into crypto?

I am a Senior Technical Lead Manager at Google, with over 10 years of experience in building large-scale distributed infrastructure, most notably including Google Fiber Traffic Engineering, Access Wireless Network Protocol, and Machine Learning Audio Experiences.

It was at Google that I first learned about blockchain technologies and I was impressed by how the combination of broad, peer-to-peer networks, distributed ledgers, and consensus mechanisms can establish a new frontier to transform the world.

In 2018, Tri Pham and I co-founded KardiaChain, with the vision of bringing the latest blockchain technology to mass adoption.

What are the major obstacles for the mainstream adoption of crypto?

There are several barriers to overcome before reaching mass adoption. I would say regulations and social perceptions are the two main aspects that are also intertwined with each other. In Vietnam, regulations are taking steps to move forward, but progress is not keeping up with industry developments. 

Meanwhile, due to unclear regulations, certain parts of the public still regard blockchain and crypto as Ponzi schemes. Apart from that, the steep learning curve and challenging UX also prevent newcomers to the crypto space.

What is KardiaChain and what are the main goals of the project?

At KardiaChain, we believe that blockchain should be accessible to everyone. We develop non-intrusive, cross-chain technology and work with major service providers to 'blockchainize' traditional business models.

Our innovative feature allows businesses to accelerate the blockchain mass adoption process efficiently and reduces the need to educate the market. KardiaChain provides hybrid blockchain infrastructure and solutions for enterprises and governments in Vietnam and other South East Asia countries. 

Our immediate goal is to bring the entire Vietnamese population onto the blockchain.

What does KardiaChain offer better than any other blockchain?

Non-intrusive, cross-chain technology. This technology helps blockchains communicate with each other despite algorithmic differences.

We also customize our blockchain infrastructure to balance the trade-off between scalability, security, and decentralization to fit the needs of growing countries in Vietnam and South East Asia.

Currently, with 20 nodes running BFT DPoS, we are achieving 6000+ tps, 5-second finality, and 10,000 times cheaper than ETH.

Why is Vietnam and South East Asia becoming an exciting hub for blockchain?

Vietnam has been proactively pushing for technology adoption in recent years and the Vietnamese Prime Minister officially designated blockchain as one of five key technologies to focus on.

Our country has a national goal by 2025 to increase its smartphone penetration rate to 100%. It will provide a better foundation for blockchain products and services to thrive, such as Decentralized ID. The population itself is also an advantage: countries like Vietnam and Thailand offer large and youthful user bases and a cost-effective tech workforce, which will create a sustainable market for innovative products and services.

How important is it that a blockchain interoperability standard is established? 

A standard of interoperability in blockchain will create smooth data asset flows across all decentralized networks. Functionality-wise, one blockchain network cannot provide all the needs for integrated areas like supply chain, trade finance, insurance etc. Cross-chain communication and operation, once standardized, will open more business opportunities and enhance user experience. Only then, blockchain can truly become the internet of value.

What existing partnerships does KardiaChain have and what partners are you looking for?

We have strategic partnerships in the blockchain space and also in traditional business. We value cutting-edge technology and real-life applications when forming partnerships. We continue to seek partners in both blockchain and traditional business.

 Our blockchain partners are top-tier companies such as Chainlink and Theta, which bring essential technology to the KardiaChain ecosystem. Chainlink helps to bring real-world data into an interconnected network of blockchain and Theta TV adds valuable features to our upcoming e-sports products and services.

 On the other hand, traditional businesses join hands with us to blockchainize their current offerings and subsequently create a more competitive advantage. Geleximco, a multi-billion dollar conglomerate, built a research lab with KardiaChain to accelerate the pace of exploring and applying innovative features in their ecosystem.

What is your most controversial opinion relating to blockchain and/or cryptocurrency?

I would prefer to think of blockchain in a broader sense; a technology to enable decentralized trust to become a vital aspect of our society in 10 years. Each member will own a certain amount of tokens to participate in this system: to secure, improve and exercise their power together.

Do you have any blockchain and/or crypto predictions for 2021 and beyond?

The number of people who own a blockchain wallet will grow exponentially and we will see enterprise-level adoption.

Connect with Huy Nguyen

Huy Nguyen is a Senior Technical Lead Manager at Google, with over 10 years of experience in building large-scale distributed infrastructures.

tags:blockchain interoperability crypto adoption KardiaChain Vietnam blockchain cryptocurrency predictions
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