The FOMO effect is coming! Following China, the Korean government is committed to supporting blockchain technology

Following the announcement by the Chinese government of strong support for blockchain technology, the Korean government has begun to take similar actions.

According to information released by the Korean government website , the Korea Information Security Agency (KISA) discussed plans to support blockchain-related projects at a meeting in Seoul last week, and according to the Korean Ministry of Science and Information and Communication Technology, the South Korean government will In 2020, it invested $12.8 million to support blockchain-related projects.

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(KISA organizes a discussion to support the blockchain project, image from: gov.kr )

According to Korean media reports , the South Korean government outlined a series of support programs to promote public and private sector blockchain projects and to train a new generation of blockchain experts.

Among them, the Korea Information Security Agency (KISA) promised to provide $8.6 million in funding for the development of services available to public institutions and the private sector.

South Korean government increases investment in blockchain experts

In addition, the Korea Communications Industry Promotion Agency (NIPA) will provide $3.4 million in funding to expand its range of free courses in the blockchain offered in Seoul, including blockchain entry, developers and other professional courses.

In fact, NIPA has the responsibility of nurturing “blockchain experts” and providing budgetary funding for blockchain courses.

Earlier, some well-known Korean companies and activists have asked the South Korean government to change its policy stance on the blockchain.

Although the Korean government is firmly supporting projects and programs related to the private blockchain, projects related to the public blockchain and cryptocurrency are still opposed.