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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Francesca Marocchino

Francesca is greatly interested by the blockchain technology and how to make the best use of it. She likes to study the positive and negative impact new technologies can have on our lives. Also very passionate about the IOT and the development of smart cities, she believes we can all innovate to shape our future and preserve our planet at the same time.