South Korean Government Sets $35 Million Budget in Efforts to Continue Blockchain Progression

2018-11-9 23:40

$35 Million Budget Promised by South Korean Government in Efforts to Continue Progression in Blockchain Industry

Blockchain technology has afforded many industries and economies the ability to track information in a reliable and trustworthy way over the last few years. South Korea has been among the greatest advocates, and they have been working to progress the industry in their own jurisdiction. In a recent report with Korea Economic Daily on November 8th, the country’s government has decided to add a $35 million budget in 2019 to allow them to continue their progress on the development of blockchain technology.

A meeting was held on the DLT and blockchain technology between the South Korean government, the Ministry of Science and ICT, the Ministry of Information and Communication, the Democratic Party of Korea, and others. At the meeting, the budget was increase three times over what it was this year, based on the decision of the ministries.

In 2018 alone, the Ministry of Science and ICT was the recipient of 72 blockchain project applications. The applications came from 41 separate institutions, though the ministry ultimately only chose six projects to bring to the public sector. Based on the projected progression, the ministry is hoping to double the amount of public sector project approvals, adding in up to four “private-led” blockchain projects as well.

The second-vice minister of this ministry commented that “everyone agrees that the blockchain is a technology [that will] change the future.” He added,

“We basically need to grow in the market […] We will also need institutional and legislative support from the National Assembly [Korean parliament]. I look forward […] for the development of the blockchain industry in Korea.”

An annoucement was made in September by the Korea Internet and Security Agency (KISA), noting that the government has budgeted about $9 million towards dispersing blockchain projects in public and private sectors. KISA is a sub-organization of the South Korean Ministry of Science and ICT.

The technical, authentication, and consulting services for the new blockchain startups of 2019 will be assigned to Ministry of Information and Communication, based on the Korea Economic Daily report.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

High Performance Blockchain (HPB) на Currencies.ru

$ 0.0100291 (+7.61%)
Объем 24H $25.057k
Изменеия 24h: 5.20 %, 7d: 30.40 %
Cегодня L: $0.0090557 - H: $0.0100291
Капитализация $732.823k Rank 1812
Цена в час новости $ 0.6736 (-98.51%)

blockchain south government korean budget progression continue

Источник: bitcoinexchangeguide.com

blockchain south → Результатов: 126


South Carolina’s Senate Passes Resolution to Promote Blockchain Tech Adoption

The solutions around blockchain tech are gradually being considered by stakeholders such as legislators looking to create a sustainable ecosystem for digital assets. It is, therefore, no surprise that South Carolina has passed a bill named ‘A Senate Resolution To Acknowledge The Importance Of Emerging Blockchain Technology And To Call Upon The Residents Of South […]

2020-3-14 22:56


South Korean’s MSICT Offers Help to Crypto Companies For Accelerating Blockchain Adoption

This Friday the South Korean Ministry of Science and Information Communications Technology (MSICT) promised support to facilitate the growth of the domestic blockchain industry. Min Won-ki, the Minister of Science held a meeting with blockchain startups as part of the government’s effort to establish contact with organizations in what it has dubbed the 10 key […]

2018-9-22 18:00


Фото:

Korean Government to Lead 6 Blockchain Pilots With $9 Million Finance

The South Korean government will invest 10 billion Korean won (or $9 million) to support blockchain development in the country, with plans to carry out six pilots using blockchain technology. According to a report from CoinDesk Korea, the country’s Ministry of Science and ICT published a blockchain development strategy on Thursday. The agency said the government plans to

2018-6-22 11:53


Фото:

South Indian State of Kerala Uses Blockchian Technology in Food Supply and Distribution

The government of the South Indian state of Kerala will use blockchain for food supply and distribution, local news outlet Business Standard reported June 17. Chairman of K-DISC, KM Abraham, told Business Standard that each component of the supply network would have a separate ID number, through which its source, production, quality, and distribution could

2018-6-19 23:19


Korean Banks to Use Samsung SDS Blockchain in imitation of Verify Customer IDs beside July

A South Korean commercial banks group will initiate a blockchain-powered customer ID verification platform in July 2018, as per the reports on June 12. Reportedly, the Korea Federation of Banks (KFB) will launch their “BankSign” identity verification system to be made use of in both online computer-based and mobile banking. According to the report, development […]

2018-6-15 19:26


Korea University and Huobi Subsidiary announced partnership

In the name of “industry-academia” cooperation in the field of blockchain development, Korea University is reportedly teaming up with the South Korean subsidiary of crypto exchange Huobi. Huobi was originally founded in Beijing in 2013, though it is now headquartered in Singapore, with branches in the US, Japan, Hong Kong, and China. The new South […]

2018-6-14 13:08


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Notcoin, its anticipated airdrop impact on Toncoin: 27% rise in 7 days

Several popular platforms and exchanges have announced the listing of NOT. Meanwhile, Toncoin’s price surged by 27% in the last seven days. Notcoin, a Telegram-based game, has recently emeThe post Notcoin, its anticipated airdrop impact on Toncoin: 27% rise in 7 days appeared first on AMBCrypto.

Arbitrum crosses ATH in this area, but why is ARB's price not responding?

Arbitrum saw a daily active address number of over 400,000. This was the first time in history that it saw such a number. Arbitrum [ARB] has recently achieved a new milestone in one of its cThe post Arbitrum crosses ATH in this area, but why is ARB's price not responding? appeared first on AMBCrypto.

Render price prediction: RNDR jumps 40%, is $15 next for this AI crypto?

RNDR leads with the most price growth in the last week. If bullish momentum continues, the token will trade above $11. The price of AI-based token Render [RNDR] has surged by over 40% in theThe post Render price prediction: RNDR jumps 40%, is $15 next for this AI crypto? appeared first on AMBCrypto.

Bitcoin rises amidst Japanese yen crisis: 'Nothing stops this train'

Japan's currency decline impacted Bitcoin and global finance dynamics. Interest in Bitcoin rises, spurred by investments and nation-state involvement. The cryptocurrency landscape has seen iThe post Bitcoin rises amidst Japanese yen crisis: 'Nothing stops this train' appeared first on AMBCrypto.

XRP price's potential 650x surge - Examining if $20 is altcoin's next target

XRP would hit the $20 mark by 2026 amidst ongoing legal issues with the SEC. Analysis suggested continued downward price pressure, which metrics show increased interest. Ripple [XRP], a leadThe post XRP price's potential 650x surge - Examining if $20 is altcoin's next target appeared first on AMBCrypto.