The South Korean blockchain association plans to create a special cryptocurrency hub, called “Crypto-Valley District”, in the urban area of Gwangju city.
According to the official news release, the Korea Blockchain Enterprise Promotion Association (KBEPA) will meet with the mayor of Gwangju, Lee Yong-Sub, and other representatives of the city. The Association is sure that such a project can attract a lot of investments and stimulate the growth of the local labour market.
The representatives of KBEPA and the Universal Group said:
“We plan to meet Mayor Lee officially to deliver the recommended plans to announce and transform Gwangju into a special governing city for cryptocurrency. We also plan to meet the councilperson Kim Dong-Chan to ask for support.”
The South Korean government is interested in creating numerous jobs for its citizens and making Gwangju a crypto-valley district will only help to achieve this goal, as around one million new jobs will be created.
Moreover, the Universal Group spokesman, Kim In-Ki, mentioned Estonia and Malta as one best example how implementing blockchain technology may change the country in better way.
“Estonia and Malta have been the forerunners of the 4th industrial revolution by successfully attracting global blockchain corporations to invest in their cities, and they have enjoyed astronomical rises in the number of jobs created. Our government has attempted to create new jobs by myopically focusing on the manufacturing — auto or shipbuilding — industry, overlooking the rise of 4th industrial revolution.”
The Association though criticized the South Korean government for being too strict to cryptocurrency and blockchain, pushing some domestic exchanges to open headquarters somewhere overseas.
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