Dr. Vo Xuan Truong - Founder of MEKOLOR Social Network said that he and Dr. Tran Cong Doan - CEO of Nha Am Group are preparing to announce a  new project  , which is the GCN Blockchain blockchain - a blockchain project designed to help digitally transform the  economy .

Previously, in 2018, both of these doctors also announced the "One Mekong One Meal" Economic Initiative (OMOM Initiative). This is a research project aimed at creating breakthroughs for Mekong member countries in the socio-economic fields, creating transparency and sustainable growth through Blockchain technology (the foundation of digital currency).

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According to Dr. Vo Xuan Truong, through his in-depth research on macroeconomics, blockchain technology applied to the OMOM economic initiative and Vietnam's market economic model, the two doctors have embarked on building the GCN Blockchain.

With the "Proof of Asset/Proof of Wealth" algorithm and based on the value reference system of the "Basic Labor Value" theory (researched by Dr. Vo Xuan Truong), the GCN Blockchain will record all transactions and transaction values. At the same time, the value of these transactions will be converted to the basic labor value. All will be defined as GCN tokens, a certificate recording digital assets for the components participating in transactions of the economy.

Also according to Dr. Vo Xuan Truong, looking back at the history of development, no one could have thought of transferring money from one account to another safely without any  financial institution  in between. And then, the advent of blockchain technology presented a radical new breakthrough way to carry out all forms of transactions over the Internet.

Nowadays, the popularity of smartphones and the Internet has made the value of recording Blockchain transactions more abundant, popular, easy, transparent and valuable.

"The GCN Blockchain will help promote job opportunities and promote sustainable and strong economic growth through transparent recording of transactions and transaction values, while creating more jobs through the Smart Contract function and Decentralized Applications ( Dapps ) of the system so that each individual can create new jobs and call for cooperation.

From passively applying for jobs at a salary set by the employer, workers proactively create projects for themselves according to the needs of the world economy to attract people with the same passion or the need to work on the basis of equality and transparency of smart contracts in the sharing economy and circular economy. This promises to be a new trend of the world economy in the near future," said Dr. Vo Xuan Truong.

After starting testing today (October 10), the GCN Blockchain project will officially deploy to a wide range of users in early November 2023.