Using the following hashing method to store a database object

Question

I would like to create a valid variable identifier that can be used across any database object. It seems Oracle has the strictest requirements and only allows 30 chars for a (non-DB) object name, so something like [_a-zA-Z]\W{,29}. My thinking was to base32-encode an md5, such as:

>>> base64.b32encode(hashlib.md5(b'asdf').digest()).rstrip(b'=')
# b'SEXMQA5SZZE6JJKBA2GUSWVVOA'
# len=26

Does that seem like an acceptable approach?