December 21, 2019 by Xavier
The telecommunications company south-Korean KT formalizes the launch of a crypto-local currency in Busan, South Korea. This initiative is intended to revitalize “the local economy” the second largest south Korean city.
Contents
A crypto-currency national
The crypto-currency local to the city of Busan would be on the road . The south Korean company KT announced the launch prominent Dongbaekjeon, a token for local use only available via a credit card.
“With our know-how in the area of management of a currency and regional security of the Blockchain, KT will seek to establish the currency Dongbaek and contribute to the growth of the economy of Busan,” said Yoo Yong-gyu, the director of the division Blockchain, KT.
Last February, the company KT has been chosen by the local government to coordinate the issuance of a crypto-currency that aims to encourage the crypto-payments in the city. The release of KT also reveals that payments in Dongbaekjeon may be supported in any local store with an electronic payment terminal (TPE).
Busan, a center of the Blockchain ?
The city of Busan has increased its efforts to become a hub of technology of the Blockchain. Thus, in 2018, the city has established a “ Blockchain free zone, an economic zone of south korea, which does not apply any law relating to crypto-currencies. The objective of this “ zone without crypto-regulation” would be to encourage developments focused on crypto-currencies.
A few months earlier, the south Korean government has already announced its intention to invest $ 3.5 million to create a “virtual power plant based on the Blockchain”. This device would allow all power plants to exchange data via a network Blockchain.
What do you think of the crypto-currency of Busan ? Give us your opinion in the comments section below ?
(Be the FIRST to vote)
…