The South Korean government said that now is the “golden time” for the development of the blockchain
The South Korean government held a meeting with private companies, urging businesses to use the existing potential for the development of the blockchain industry.
On April 17, Ko Yoon Chol, 2nd Vice Minister of Strategy and Finance, held a conference on this issue, inviting a number of industry experts. During the conversation, he pointed out the need to develop blockchain at the national level and promised support from the government.
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In his speech, Ku noted that blockchain is a promising technology, and according to forecasts, in the next few years, this industry will grow by more than 80% annually, providing competitive advantages to countries moving in this direction.
Therefore, in the next 2-3 years, South Korea intends to reduce the technological gap from the United States, China and the EU, while it is not yet too large. The second vice minister called this period “golden time” for finding a niche.
He also added that the government should take a more active part in the formation of the initial market base and the reorganization of the existing system.
The government plans to develop a blockchain development strategy and include it in the 2021 budget.
In addition, in January, the South Korean state committee recommended adding bitcoin to the stock exchange.