2018-6-15 05:25 |
South Korea has revealed plans to launch a blockchain center in Busan city modeled on the Swiss Crypto Valley, local news outlet Edaily reported June 14.
“We need a place to concentrate on the cryptographic industry in Korea like the Crypto Valley in Switzerland,” Oh said at the event.
Located in eastern Busan, South Korea, Haeundae is an affluent beachfront community that attracts thousands of tourists each summer.
Oh pointed out that many South Korean companies must launch initial coin offerings (ICOs) overseas due to the government’s current ban on ICOs.
In September 2017, South Korean financial authorities announced a ban on ICOs, claiming they should be strictly controlled and monitored.