Government of South Korea increased Blockchain Investments in 2019, significantly
Home News government of South Korea increased Blockchain Investments in 2019, significantly
Matthias Nemack –
South Korea is responding to the successful investment in the year 2018 – the country plans appear to be a significant increase in its cash injections for projects that explore the use of the Blockchain in different sectors of the economy and.
Significantly more money, even for state-owned projects
Asia in General is a good place for Bitcoin and many other digital currencies. Not only because many of the currencies in China, Japan or other Asian countries. Also many industries such as the tourism is there already in many places, as you can attest to the majority of European countries. And when it comes to the government of South Korea wants to continue to contribute actively to the further development of the Blockchain technology. In order to secure a top spot, wants to put the government in the coming year, about the equivalent of 18 million dollars in new projects. This message was mid-week in the national media.
The Ministry also wants to strengthen the economy
The Rapporteur relied on the information from the environment of the South Korean Ministry of science. The planned total is significantly higher than the investment for this year. 2018 have been provided in various initiatives with reference to the Blockchain “only” about 10 million USD for projects in this area. About a dozen projects it wants to put the Ministry allegedly in their own projects. Furthermore, funds in Start-ups. A portion of the projects will be testing in the area of logistics. Among other things, the government wants to promote the wellbeing of the crisis-plug end of the shipping industry in this way. For this reason, the Ministry of oceans and fisheries will be included, as it is said in the messages. In addition, South Korea plans to use the Blockchain, in order to consolidate its leading role as a member of the Top 10 exporting Nations and to develop.
Policy direction remains the same
Will work well as usual, the company Samsung SDS, which has been cooperating for long around Blockchain models with the policy. The crux of the message: The political dealing with Ethereum, Litecoin and co. in the country for the time being, nothing will change. So, for example, the prohibition for ICOs is in its current Form is not too soon corrected.