First China And now South Korea!

[dhemasm 219]

After China announced it would focus on Blockchain technology and encourage banks there to use Blockchain, South Korea also promised additional injections of funds or investment into the Blockchain sector. South Korea will invest $ 12.8 million in the Blockchain project in 2020, the Ministry of Science and ICT has confirmed in this regard. Per Fn News, the Sain and ICT ministries have outlined various expenditure plans that are expected to help provide impetus for Blockchain initiatives in the public and private sectors - and hope to provide training to Blockchain experts for generations to come.

The Ministry of Science and ICT said the Korea Internet and Security Agency (KISA), which has reported to the Ministry of Science and ICT, will provide "more than $ 8.6 million, this fund will later be used to develop services that can be used by public institutions and the private sector. " The Korea Internet and Security Agency (KISA) revealed they were looking to vote for and support a multi-year contract project - a Blockchain initiative that could be financially supported for several years.

In addition, funding of $ 3.4 million will also be provided by the National IT Industry Promotion Agency (NIPA), which is managed by the South Korean government, where the agency currently oversees Blockchain technology training course sessions for free. NIPA will further expand Blockchain knowledge through introductions, development, and coaching courses. Where, this will be present free of charge at Mapo, which is part of the administrative region of Seoul.

NIPA also has the duty to maintain "Blockhain companies and nurture Blockchain experts, of course," and will fund Blockchain training courses. Funds of $ 3.4 million will also be given in the amount of $ 342 thousand to invest in the Blockchain sector through selected Blockchain startups. Agencies related to the development of Blockchain in South Korea will also conduct research on "supporting regulations related to Blockchain". Not only that, a number of prominent companies and activists in South Korea have appealed to the government to change its attitude towards Blockchain policy.

Nevertheless, the city of Seoul has remained in its founding to support matters related to the development and investment in the Blockchain sector in the private sector, public Blockchain projects and cryptocurrency. The Ministry of Science and ICT in South Korea, talks about expanding the scope of the Blockchain, namely through testing the Blockchain project from short-term projects to medium and long-term projects. The ministry is currently working on 12 public Blockchain testing projects in the private sector, of which 12 Blockchain projects (an average of 80 percent are completed).

Read more here: https://coinvestasi.com/berita/tak-mau-kalah-dengan-china-negara-ini-janjikan-investasi-ke-sektor-blockchain/ (Indonesia)

[teminalibug 309]

I knew it was a matter of time until we have another big announcement about another country accepting Blockchain tech after china. I say 2021 will be the year of Blockchain.

[Great Commander 659]

Would be a good then. Developed countries are now seeing the importance of bitcoin and blockchain system for their country and could help them improve. But for third world cluntries, I think, they are far behind progressive than other country. 

[kyoukage01 3181]

Good thing for another country to finally take a deep interest in cryptocurrencies. They have realized the inevitable rise of crypto as a potential means of economic wealth. Now if only a few more countries will follow suit before this year ends.

Care to take a guess as to what country is next?

 

[Rg123 318]

9 hours ago, Nicearce said:

Yeah right korea and china was the best country that made of high tech technology.they are always advanve for featuring of a good technology.usa can not be banned crypto in the countries who wants bitcoin.eventhough they are rich country still china and korea can not be stop of what they desire to do in crypto.china and korea has a good plan in crypto lets support them about crypto.

Exactly, its nice to see that this country has suppoting cryptocurrency, we can say that they are really highly advance in terms of technology, i hope that the government in my country will adopt this to grow up the crypto itself.

[dentolas 551]

8 minutes ago, kylepresz said:

Asian countries are going to dominate the world of technology while the United States and Europe are wrapped up in red tape, debating the pros and cons of every innovation!

hahahaha, that's it, some speak, others do...

It is amazing to see how China and South Korea have things already structured and on development... these guys are investing seriously on blockchain and I have no doubt that the center of power in the world is shifting...

My country in in the EU and there wasn't even shown on the news the China president statement

[alexmail19 680]

This is very good news as it should stimulate the assets of cryptocurrencies, after which their good growth should occur.

[HeroCre 16]

Now they knew that it was their mistake to ban crypto that is why they will now try to go reverse for their this decision and now they will adopt bitcoin on state level.

[Pegem 109]

There will be also another announcement coming from the USA. I am sure that after China they will also adopt blockchain for their country and will get benefits from this technology. 

[setifien 1016]

12 hours ago, Ohmygoddess said:

Very good news for the crypto world. But I would specify that before China and South Korea, Venezuela, Russia, Turkey and Switzerland had already advanced even in the production of crypto monetary initiatives. It is clear that the investment potential of China and South Korea is vastly greater.
In any case, the presence of these great competitors will force other powers to accelerate their passage. We will see the United States, despite their desire to ban the BTC or at least submit it to their designs, enter through the same door.
Fiat coins are doomed to interact with the crypto world.

Yes that's right but I think China & Korea have stronger influencing on crypto technology than the cited countries 

[TimopheyKa 3900]

Wow, a really interesting article in the crypto world. Well, it is not surprising that Korea undertook it, because now the age of technology, and cryptocurrency is very relevant, everyone wants to develop in it! I think, over time, it will fill all countries

[starwalkerz 164]

I think that eventually all countries will develop and publish their national strategies for implementing this new, exciting emerging technology. On the other hand, much depends on innovation within the startup community.

[williamz902 696]

13 hours ago, dhemasm said:

After China announced it would focus on Blockchain technology and encourage banks there to use Blockchain, South Korea also promised additional injections of funds or investment into the Blockchain sector.

I must admit that I never expected these tightly controlled Asian countries to lead the way in blockchain innovation and development, and embrace it the way they have. I think most of us thought the United States would be the first - since they are the first in many things.

[dhemasm 219]

As you said guys, China and South Korea It is a very vital first step and I also hope that various countries will follow the two initiatives of this country, my country Indonesia has also begun to adopt the blockchain and get a positive response, Timor leste too. Well, maybe next year we can see various developments and competitions from every country in the field of blockchain

[aika 286]

14 hours ago, Ohmygoddess said:

Very good news for the crypto world. But I would specify that before China and South Korea, Venezuela, Russia, Turkey and Switzerland had already advanced even in the production of crypto monetary initiatives. It is clear that the investment potential of China and South Korea is vastly greater.
In any case, the presence of these great competitors will force other powers to accelerate their passage. We will see the United States, despite their desire to ban the BTC or at least submit it to their designs, enter through the same door.
Fiat coins are doomed to interact with the crypto world.

I don't think United Stated will ban the crypto. You know there is some kind of war between USA and Asia, I'm thinking more that they will compete with asiatic countries on this topic. They won't want to fall behind Asia, a negative movement towards crypto will cause some economic fall that will not benefit Trump's government.

[dhemasm 219]

1 hour ago, aika said:

I don't think United Stated will ban the crypto. You know there is some kind of war between USA and Asia, I'm thinking more that they will compete with asiatic countries on this topic. They won't want to fall behind Asia, a negative movement towards crypto will cause some economic fall that will not benefit Trump's government.

Yep, i agree too USA i think just monitoring cryptocurrency and didn't ban it and that was interesting about USA and China trade war, did you think China take this advantage on cryptocurrency to raise their chance to win this trade war?

[aika 286]

1 hour ago, dhemasm said:

Yep, i agree too USA i think just monitoring cryptocurrency and didn't ban it and that was interesting about USA and China trade war, did you think China take this advantage on cryptocurrency to raise their chance to win this trade war?

Of course China want to go ahead and take the biggest share of the market. They are not openly opening to the cryptocurrency yet, but the recent announcements points to more future statements. Maybe passing laws, I don't know. Officials have said that they are not allowing crypto. But banning bad publications about blockchain just points out their future directions in this matter.

[nira09 115]

18 minutes ago, rocsus said:

I wonder why posters are getting excited about China focussing on blockchain. It seems lot of you are ignorant about what blockchain is and how it differs to bitcoin. Focussing on blockchain has nothing to do with bitcoin. If China was going to accept bitcoin, there won't be reports of China launching its own cryptocurrency issued by the central bank. Same is the case with India, they will too launch its own cryptocurrency.

I don't know if its lack of knowledge, or just desperate attempt to see something positive to happen with bitcoin, but this recent statements about Blockchain by Chinese Premier has nothing to do with Bitcoin. 

President of Chinese likely to accelerate the rollout of the People's Bank of China (PBoC) 's plan to launch a central bank digital currency (CBDC).
maybe this article will be interesting for you  https://cointelegraph.com/news/expert-us-should-cut-crypto-firms-some-slack-to-compete-with-china

[dhemasm 219]

17 minutes ago, aika said:

Of course China want to go ahead and take the biggest share of the market. They are not openly opening to the cryptocurrency yet, but the recent announcements points to more future statements. Maybe passing laws, I don't know. Officials have said that they are not allowing crypto. But banning bad publications about blockchain just points out their future directions in this matter.

Yea, china always been at the forefront of technology and competing with the USA, Maybe in my opinion the Chinese government forbids this because if they are not mistaken, they will release their own cryptocurrency (DCEP), maybe the government wants to focus the cryptocurrency community in China to supervise this DCEP, maybe that's what caused it.

[WayOut 216]

Yes, it's just super, if China and Korea want to replenish bitcoin additionally, then in 2020-2021 we will have a good price increase.

[dhemasm 219]

2 hours ago, inlanwarc said:

I knew it was a mаtter оf time until wе have аnоthеr hugе declаrаtion almоst anothеr nation tolerаting Blоckсhain teсh aftеr chinа. I say 2021 will bе thе yеаr of Bloсkсhаin.

Yep, it's just about time and we can see something suprising. 2021 is possible, but let's assume that there are lots of other good news like this one and now that we can say 2020 was cryptocurrency year and not 2021. Since china has announced it, we just need to wait for the US and other countries to follow, Well, let's wait.

[dhemasm 219]

On 11/2/2019 at 10:13 PM, rocsus said:

I wonder why posters are getting excited about China focussing on blockchain. It seems lot of you are ignorant about what blockchain is and how it differs to bitcoin. Focussing on blockchain has nothing to do with bitcoin. If China was going to accept bitcoin, there won't be reports of China launching its own cryptocurrency issued by the central bank. Same is the case with India, they will too launch its own cryptocurrency.

I don't know if its lack of knowledge, or just desperate attempt to see something positive to happen with bitcoin, but this recent statements about Blockchain by Chinese Premier has nothing to do with Bitcoin. 

I just read it today since there is no notification before and for this post, is this directed for me or some Poster from previous page? Anyway yes I agree that this will not have much effect on bitcoin but this positive news will certainly have a positive effect on the crypto market for sure.

[Cryptominded 704]

On 11/1/2019 at 10:26 PM, Ohmygoddess said:

Very good news for the crypto world. But I would specify that before China and South Korea, other countries as Venezuela, Russia, Turkey and Switzerland had already advanced even in the production of crypto monetary initiatives. It is clear that the investment potential of China and South Korea is vastly greater.
In any case, the presence of these great competitors will force other powers to accelerate their passage. We will see the United States, despite their desire to ban the BTC or at least submit it to their designs, enter through the same door.
Fiat coins are doomed to interact with the crypto world.

It is a welcome development and a pointer to the fact that the world is now beginning to see what we saw about cryptocurrency. Sooner than later, competition and accomplishments among nations would compel those sitting on the fence to be on their feet.  This development is also a clarion call to us  the early adopters, to keep our house in order before the institutions swoop down on it.

[Zentoly 419]

11 hours ago, madera said:

Every day the cryptoccurrencies receive good news that means the crypto every day they are more people and government who they interest to it and will be adopt step by step in the life of people.

It will give more profit if the more people of the countries accept it and when i see good news about cryptocurrencies any days then raelly that day is very good for me.

[dhemasm 219]

4 hours ago, rocsus said:

I don't exactly remember but I guess I was making a point regarding the general excitement of posters about the news of China focusing on blockchain which has nothing to do with bitcoin. It seems there is general misunderstanding that if blockchain is adopted bitcoin will be adopted too. Blockchain and bitcoin are separate entities. Blockchain can run without bitcoin, while bitcoin cannot run without blockchain. China focusing on blockchain has nothing to do with bitcoin or crypto in general. But when you just read some posts, most posters are happy about it. I would sure be glad too if Bitcoin is adopted by China as legal tender. But its not the case, certainly not with the recent statements of Chinese Premier.

Bitcoin maybe accepted or may not be accepted by China tomorrow, only time will tell, but China's focus on blockchain has nothing to with their stand on bitcoin. As for the positive effect its caused by price rise by whales, then because of what President Xi said.

I see so your statement before was directed to some poster on previous page that the hype because they think it will have an effect on bitcoin, Well I agree if so, this news does not completely affect bitcoin but it is very good news about the development of blockchain technology which has begun to be developed by several large countries and now it's clear, I think the statement was for me before. Well, happy to discuss with you, Cheers!