Korean Government to Lead 6 Blockchain Pilots With $9 Million Fund
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 invest $9 million in total until the end of 2019 as part of the country’s pursuit of “a medium- to long-term plan for expanding blockchain technology.”
With that, the ICT ministry said it will take the lead to work with other government agencies to conduct blockchain pilots in the public sector. The works will focus on livestock supply chain management, customs clearance, online voting, real estate transactions, cross-border e-document distribution and shipping logistics.
The main goal, according to the document, is to improve the information sharing efficiency and transparency in these public services by using a distributed network.
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