Ethereum co-founder Vitalik Buterin: blockchain technology and cryptocurrency are inseparable

According to Crypto News on April 4th, Ethereum co-founder Vitalik Buterin said at the blockchain conference held in the South Korean parliament that blockchain technology and cryptocurrency are virtually inseparable.

5768d1ef7e (Source: cryptonews )

The South Korean government regards blockchain technology as the growth engine of the Korean economy. Although the government has promised to make large-scale investments in blockchain technology, the cryptocurrency has been abandoned by the government to a certain extent. Earlier, the South Korean government has repeatedly stated that it will strongly support the development of blockchain technology, while cryptocurrencies require strict supervision. Earlier this year, the South Korean government retained a controversial ban on the first token issue (ICO), after which all forms of first-time token issuance projects in Korea were illegal.

In addition, in South Korea, cryptocurrency-related businesses were eliminated from tax incentives last year. They were also included in the same legal finance category as gambling or nightlife companies, and venture capital firms could no longer afford free investment. Encrypted currency.

Despite repeated calls from well-known scholars, blockchain and cryptocurrency business leaders, as well as many influential politicians, the South Korean government has not shown a compromise.

According to News1, Buterin said at the conference:

Blockchain and cryptocurrency are difficult to separate. The operation of the public chain relies heavily on cryptocurrency. Therefore, cryptocurrency is absolutely necessary.

Buterin also believes that the decentralized network that does not restrict participants must provide incentives to participants in the form of cryptocurrencies.

Regarding the first token issue, the co-founder of Ethereum said:

To be sure, the quality of some of the first token-issuing projects has improved recently, and this situation will continue to improve. The US Securities and Exchange Commission (SEC) has issued a framework for analyzing whether digital assets can be offered and sold as investment contracts, so it is a security.

At present, large Korean companies are continuing to promote the rapid development of blockchain. Yesterday, NH Bank, one of South Korea's largest commercial banks, announced that it has launched Korea's first P2P blockchain banking service. According to the Digital Daily, the bank said its new service will allow smartphone users to pay taxes, utilities and other bills through the blockchain platform.

According to Media SR, CJ E&M, the UK's largest entertainment industry company, said at the blockchain conference that blockchain technology will change the individual media market, and content creators will have the opportunity to share their work on the blockchain platform. Accept the "small payment" of the cryptocurrency.