South Korea to spend Billions on Blockchain Development
Thursday, 07 16 2020, Category: Technology, Country: Asia
The South Korean government plans to invest over $48.2 billion in Blockchain and other Industry 4.0 technologies by 2025. The nation’s goal is to promote the digitization of all industries in the coming post-pandemic era.
According to ZDNet Korea, President Moon Jae-in praised “several benefits” that the new industrial revolution could bring to the country.
Moon elaborated: “The fourth industrial revolution and digital civilization are the future of humanity that has already begun. The national development strategy to advance in the trend is the Korean version of the new deal. It is possible to jump from the older economy to the leading economy.”
Moon’s plan aims to create over 567,000 jobs across different sectors, such as big data, networks, and artificial intelligence. Blockchain technology is expected to be implemented in the logistic sector.