South Korea to Pave the Way for Wider Public Blockchain Implementation

ICOBox co-founder Daria Generalova shares her thoughts on the South Korea’s announced expansion of piloting in the public sector.

The Korea Internet & Security Agency (KISA) has just announced its plans to double the number of blockchain trials in the public sector in 2019, bringing them up to 12. The agency also signaled its intent to support privately-built blockchain projects in the country. The 2019 blockchain pilot budget will be increased to more than 10 billion Korean won, or $9 million, which will be allocated in addition to the $9 million earmarked for both 2018 and 2019.
The South Korean government has also announced its plans to train several dozen highly skilled blockchain professionals who will act as a support resource for startups aiming to enter the blockchain market.

Naturally, this is fantastic news! It confirms the Korean government’s continued commitment to developing the already burgeoning national blockchain economy. And they are certainly putting their money where their mouths are: over the course of the next year alone, the government’s investment in blockchain and related innovative technologies is expected to surpass $4.4 billion. Things are really moving there, I can’t wait to see what kind of amazing creativity will come out of it. Step aside, world: South Korea is on a roll!