The current electronic identity in Vietnam primarily serves citizens and government digitization. The Ministry of Public Security's push for legislative upgrades aims to establish a unified recognition mechanism covering both physical and digital environments; including digital assets, data, and applications under electronic identity essentially incorporates on-chain and off-chain assets into a nationally manageable framework.

On the capital path, once digital assets are required to be linked to electronic identities, transactions, custody, and circulation will increase compliance steps, raising compliance costs; at the same time, it will spur demand for identity infrastructure, data linking, and auditing tools, with resources shifting towards suppliers capable of providing national system integration and cross-environment identity services.

Similar paths can be seen in the practices of many countries where digital identity expands to enterprises and IoT devices: first covering people, then extending to objects and data, ultimately forming a traceable digital economy foundation. Currently, Vietnam is still in the "legislative consultation" stage.

This essentially represents a regulatory change: as the scale of the digital economy expands, the state uses a unified electronic identity to directly incorporate various entities into a recognizable and manageable scope, shifting pricing power and control to the central identification system.

ABAB News · Cognitive Law

Once identity is extended to assets, management boundaries will be redrawn
Unified recognition is a prerequisite for scaling the digital economy
The next step in regulation is often to turn the "invisible" into the "traceable"