South Korea could soon spend billions on blockchain development

The South Korean government plans to invest more than $ 48.2 billion in blockchain and other Industry 4.0 technologies by 2025. The country’s goal is to drive the digitization of all industries in the aftermath of the pandemic.

According to ZDNet Korea, the president is Moon Jae-in praised “various advantages” that the new industrial revolution could bring the country.

Moon worked out:

“The fourth industrial revolution and digital civilization are the future of humanity that has already started. The national development strategy to promote the trend is the Korean version of the new agreement. It is possible to move from the previous economy to the leading economy. “

Create thousands of new jobs

South Korea could soon spend billions on blockchain development
South Korea could soon spend billions on blockchain development

Moon’s plan aims to do more than accomplish 567,000 jobs in different sectors, like big data, networks and artificial intelligence. Blockchain technology is expected to be implemented in the logistics industry.

President Moon added:

“Our society has already entered face-to-face digitization, and society where data is competitive, AI and the Internet have become the food of the future. In this way, we will become the world’s number one country through more courageous and proactive investments. “

Andong, a city in the South Korean province of Gyeongbuk, announced on July 7 that they had been granted permission to operate a free trade zone for industrial hemp. In addition, they announced that they would manage their operations through a blockchain-based platform.

The country’s Ministry of Science and its National Agency for the Promotion of the IT Industry started working on various proof-of-concept blockchain projects in 2019.

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