South Korea to Double Blockchain Trials Next Year

South Korean government made one step closer to blockchain
05 September 2018   759

South Korean authorities will allocate twice as much funds to finance blockchain projects in the next year, reports CoinDesk.

Representatives of the Korean Internet and Security Agency(a subdivision of the Ministry of Informatization and Communications) reported plans to significantly increase the number of blockchain projects, most of which are targeted at the public sector.

In the next year, we are considering expanding blockchain pilot projects in the public sector to 12, and plan to support more than three private-led blockchain national project.

Min Kyung-sik

Head of blockchain, KISA

In addition, for such projects, the agency will increase up to 10 billion South Korean won (about $ 9 million) budget for the next year. Also, $ 9 million of the funds of a separate fund will be used, which are planned to be mastered in 2018-2019.

The blockchain projects selected by the Ministry specialize in the management of supply chains in livestock, customs, online voting, real estate, electronic document management and logistics. This year the agency allocated $ 3.76 million for these projects.

The results of the current projects will be known in November. In December, the agency will hold a blockchain hackaton to select ideas for new projects.

Binance to Spread Crypto Fiat Wings

The list of upcoming jurisdictions was found by the Block
18 January 2019   62

The Block has gained access to the list of jurisdictions in which the largest cryptocurrency exchange Binance intends to launch fiat trading platforms. The latter use technology Binance, but will be separate legal entities.

Alleged Binance New Operation Jurisdictions
Alleged Binance New Operation Jurisdictions

In 2019, the exchange allegedly intends to launch full-scale activities in Malta and in Singapore. At the same time, South Korea, Liechtenstein, Russia, Turkey and Argentina are in the plans.

Note that in October last year, such a platform appeared in Uganda, and just a few days ago - on the island of Jersey.