South Korean Government Announces Blockchain Strategy and Fund

5 Months ago / News / Business and Finance

During the course of this week, the Ministry of Science and ICT in South Korea announced that it will be launching its Blockchain Technology Development Strategy, which is aimed at raising over $200 million by 2020 to fund blockchain initiatives and companies. About 10,000 industry professionals and 100 projects are included in fiscal scope of the ministry. Also, the strategy encompasses promoting projects designed for the development of South Korean smart cities and factories, as well as provision of funding for pilot projects on blockchain application in customs clearance, online voting, real estate, logistics, and others.