The South Korean government has requested the support of startups blockchain


The South Korean government has requested the support of startups blockchain

The Ministry of science and information and communication technologies South Korea (MSICT) made a request for support for the process of development of the domestic industry of the blockchain, what on 21 September announced the publication Business Korea.

Second Minister MSICT Min Won— Ki, met with representatives of startups blockchain. It became part of the government’s efforts to establish contacts with organizations in the campaign for development of “10 key sectors of information and communication technologies for the fourth industrial revolution”.

The meeting was dedicated to pilot projects blockchain initiated by the government to stimulate the market of the blockchain and public services sector through investments in the amount of 4.2 billion won ($3.7 million).

The participants considered the possibility of applying blockchain technology in customs control, control of origin of livestock and transactions associated with the property. Min said:

“Given the fact that in terms of development of blockchain technology South Korea does not lag significantly from other countries, we have a chance to take a leading position in this industry. The government will actively support domestic companies, helping them to lead in the global market of the blockchain”.

Representatives of start-UPS blockchain stressed the need to create an environment of blockchain-based cloud computing, to support research and development in the private sector, and create a healthy competitive environment to national and foreign developers of blockchain.

Although the South Korean authorities banned all kinds of ICO and still have not developed a policy in regard to these projects, the country is known for its proactive approach to the implementation of blockchain.

In early September, the company set up by MSICT, initiated a six-month training course, in which forty-two candidates can become “experts in the blockchain”. Consequently, the number of experienced professionals in the growing economy of South Korea blockchain will increase.

Earlier this month, the publication Cointelegraph reported that the customs service has signed an agreement with Samsung SDS on the application of blockchain technology in customs inspection.

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