According to the Ministry’s official announcement, the new initiative will foster 10,000 blockchain industry professionals and 100 companies, and will expand and commercialize six existing blockchain pilots with the Ministry’s backing.
These pilots aim to leverage blockchain technology for real estate, online voting, shipping logistics, livestock record management, customs clearance, real estate, and international e-document distribution.
In addition, the Korean government will back the development of BaaS (Blockchain-as-a-Service), to allow small and medium-sized enterprises to implement blockchain solutions efficiently.
Although recent crypto news from South Korean has been focused on reports of the theft of $30 mln from South Korea’s leading crypto exchange Bithumb, wider developments in the country’s crypto and blockchain industry this spring have been more positive.
That same month, the South Korean government revealed a positive reorientation for domestic crypto and blockchain legislation, suggesting it plans to make domestic Initial Coin Offerings (ICOs) legal again.
In the latest crypto mansion sell-off, Hilton and Hyland, the real estate firm chaired by Rick Hilton, the father of reality TV celebrity Paris Hilton, has announced that the sale of a 16th century Roman mansion will be conducted on the blockchain.
Industry experts and lawyers discussed whether companies should issue security tokens in a panel debate at real estate-focused event BitcoinCRE on June 14. Part of London Tech Week, the event looked at regulations across the world and happened hours before Ether was declared ‘not a security‘ by the SEC.
A South Korean lawmaker accused Bithumb of using dark patterns to charge users higher fees than advertised. Cryptocurrency exchange Bithumb earned more than 140 billion won (nearly $97.6 million) in extra fees by using unclear processes that misled users, The…
Bithumb has issued a security warning to its Korean users following a significant data leak at SK Telecom, South Korea’s largest mobile carrier. South Korea‘s cryptocurrency exchange Bithumb has alerted its customers after a data breach at SK Telecom, the…
KakaoBank, a South Korean digital bank serving over 22 million users, is teaming up with Coinone to offer a new crypto price tracking feature. KakaoBank, South Korea‘s mobile banking application with dozens of millions of users, has expanded its services…
“South Korean cryptocurrency exchange Bithumb appears to be restructuring its investment and holding units as it plans to conduct a long-awaited initial public offering. Crypto exchange Bithumb will separate its holding and investment business into a new company this summer…
New data shows over 30% of South Korea’s wealthy investors prefer crypto for long-term value growth, outpacing interest in gold or property. South Korean investors — especially the younger crowd — are leaning harder into crypto, and a new report…
South Korean candidate Hong Joon-pyo says he’ll scrap crypto rules like U.S. President Donald Trump did, aiming to make blockchain a key industry. South Korean presidential candidate Hong Joon-pyo says he’ll remove crypto regulations similar to how they were rolled…
KuCoin, along with MEXC and 12 other crypto exchanges, have been removed from Apple’s App Store in South Korea for operating without registration. According to an April 14 report from South Korea’s Financial Services Commission, Apple began blocking access to…
