The Future of Blockchain in Korea
A lot will change for the Blockchain ecosystem in Korea after the elections on June 13th. Depending on who gets elected or re-elected, there is a legit chance that ICOs will be back in Korea. The public is behind the movement to bring ICOs back to Korea. As well as being the innovators in Blockchain technologies moving forward. This is why the mayor of Seoul has promised to support blockchain development as he goes for re-election.
Mayor Park Won-soon has been the mayor of Seoul since 2011. He will be looking to get his third term. In order to do that he will need to win over the public. In order to win the public, he will need to prove he is going to help the Blockchain ecosystem in Korea. He announced that he was committed to helping the city of Mapo become the center for blockchain incubation and foster blockchain innovation in Seoul.
Blockchain Innovation Hub in Mapo
The government will turn the Mapo Fintech Lab into a hub for not only Fintech but also blockchain development. This will be the first proposal from the Seoul Metropolitan Government to support blockchain technologies.
The government’s support of Blockchain development has been a theme lately. They are looking not only to make their own cryptocurrency but to use blockchain technologies in many public services such as municipal administration and government management. This will allow for more transparency in the government and a faster service to the public. The city’s cryptocurrency will be used to help social programs in Seoul and be used as a fund to help the growth of Blockchain Startups in Seoul.