SOUTH KOREA INVEST $200 MLN IN THE BLOCKCHAIN DEVELOPMENT

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SOUTH KOREA INVEST $200 MLN IN THE BLOCKCHAIN DEVELOPMENT

The Ministry of Science and Information & Communication Technologies of South Korea plans to allocate two hundred million dollars for the Blockchain Technology Development Strategy. According to the plan, for further develop the technology and promote the development of blockchain-based projects more than a hundred companies will be created and about ten thousand industry professionals will be established. Six blockchain-based projects will receive support at the government level from next year. Areas of projects activity are in the field of electronic document management, customs, maritime logistics to name a few. Support will also be given to projects in the field of BaaS (Blockchain-as-a-Service), as well as to research groups.

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