Deputy Mayor of Economy, Busan, South Korea: ICO is a huge demand in the current market, and plans to build a token economy and promote it to the whole country.

According to ZDNet Korea, on October 17, at the "Blockchain Seoul 2019" conference held in Seoul, South Korea, Yoo Jaesoo, deputy mayor of Busan, South Korea, disclosed the road map for the blockchain supervision of the Busan District: 1. Through the blockchain business Establish trust; 2. Conduct regulatory innovation through pilot programs; 3. Build a token economy and promote it to the whole country. In addition, it emphasizes that despite the poor view of ICO, it is recognized that ICO is a huge demand in the current market, and good blockchain business needs ICO to raise funds. In the future, it will negotiate with the Ministry of Small and Medium Ventures to establish a fund that can invest in blockchain projects. On the other hand, it also proposed the establishment of a cryptographic exchange reporting system and the inclusion of these exchanges in the regulatory sandbox. In addition, it points out that blockchain technology has great potential, but the huge gap between it and the real application is an obstacle to the current blockchain industry. The end of time will prove the value of the blockchain. It is worth noting that Yoo said that President Wen’s blockchain supervision of the Freedom Zone in Busan is expected to drive the development of the blockchain industry.