Park
Won-soon, the mayor of Seoul, the capital of South Korea, presented a five-year
development plan for the blockchain industry in the city. The mayor of Seoul
spoke about plans to integrate blockchain technology into the city
administration, where the most important will be voting systems, charitable
assistance, and vehicles.
According
to ZDNet Korea, the project provides for the
launch of a number of initiatives aimed at the development and promotion of
distributed registry technology. According to Mr. Pak, by 2022 a private-public
fund with assets worth 100 billion won (about $ 88 million) is planned to be
created in Seoul to invest in local blockchain startups. At the same time, the
government will allocate about $ 12 million from the local budget.
In
addition, by 2021, the authorities intend to spend $ 53 million to create two
business centers, which will house about 200 blockchain-startups. There are also
going to open two educational centers, which in the next five years will train
730 specialists in the field of the distributed roster.