South Korea to Allocate $880M for Tech Including DLT

The goal is to "focus on promoting big data and AI, developing blockchain technology to ensure data management security and boosting the sharing economy"
16 August 2018   1332

In 2019, the government of South Korea plans to invest more than $ 880 million in accelerating the development of innovative technologies, such as blockchain, CoinDesk reports.

Deputy Prime Minister Kim Dong Yeon held a ministerial meeting to work out an investment plan for the government to develop innovations for the next five years.

According to the website of the Ministry of Economy and Finance of South Korea, the government allocated 1 trillion won (about 880 million dollars) - 80% more than in 2018 - for the development of technologies like blockchaain, big data and AI in 2019. In addition, the agency said that in the next 5 year total investments of 8-9 billion dollars are planed.

The goal is to "focus on promoting big data and AI, developing blockchain technology to ensure data management security and boosting the sharing economy," the press release said.

The investment plan does not specify how much money will be invested in each of these areas separately. There's no info wether it will be allocated to mining facilities.

Earlier, the Ministry of Information and Communication Technology of South Korea reported that in 2019 will allocate $ 9 million to invest in blockchain start-ups. In addition, in June it became known that the same ministry was cooperating with other state agencies on the development of six pilot programs, within which the block would be used in large government services.

Argo Blockchain to Implement 1000 New Miners

It is worth noting that Argo Blockchain shares are traded on the London Stock Exchange
20 September 2019   94

Argo Blockchain, a British mining company, has installed 1,000 new ASIC miners. Now the company has 6,000 devices.

According to the Proactiveinvestors portal, over the next two quarters, the company will acquire another 6,000 bitcoin miners.

Argo Blockchain shares are traded on the London Stock Exchange (LSE). Against the backdrop of a bullish rally of bitcoin, this year they grew by 193% - from £ 3.2 in early April to £ 9.5.

In the second quarter financial report, the firm reported a substantial increase in revenue. Its representatives are also interested in placing a farm on 2500 devices in the Canadian province of Quebec.

On September 19, the total computing power of the bitcoin network crossed the line of 100 EH / s.