Blockchain a Rare Prospect, Declares South Korean Authorities

Blockchain a Rare Prospect, Declares South Korean Authorities

Vice Minister of Strategy and Finance is calling on the blockchain industry to take advantage of the “perfect” prospects.

The government of South Korea has said the blockchain market portrays a “rare prospect” for the nation. They also are relying on South Korean private-sector businesses to harness the advantage.

As shown in a study released by Fn News on April 17, the Deputy Minister of Strategy and Finance, Koo Yun-Cheol, convened regarding blockchain technology that gathered forth several experts from the private sector.

United States and European Market Prospects
Koo alluded to optimistic projections about the development of the adoption of blockchain technology in international markets, such as Europe and the US. He went on to state:

“The capacity of the blockchain-related industry is projected to rise by far moreover 80 percent per annum on average, and optimally encourages foreign countries to consider as to the industry which could bring awareness as a potential technology and knowledge.”

The vice-minister stated that the technology divide between the U.S., Europe, and China may be lowered within the next two or three years.

South Korean Authorities Participation in Promoting Early Market Development
The same gathering encouraged the South Korean authorities to participate in the environment ahead. They proposed that considering the potential of the existence of an early market, the country might leverage from those prospects.

Koo added:
“The public pilot project, in which the market demand has been confirmed through the pilot project, has been adopted as the main project. The system also needs to be reorganized.”

The national government did not reveal a concrete budget for strengthening the country’s blockchain industry.

On March 17, two South Korean agencies reported declaring their assistance to the blockchain industry by earmarking close to $3.2 million in grants to local startup companies.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.