SEOUL, Jun. 23 (Korea Bizwire) — The Ministry of Science, ICT and Future Planning (MSIP) revealed yesterday its plans to secure a competitive edge in blockchain technology on a global scale by pushing forth six projects in the sector.
The six projects to utilize blockchain technology are in the fields of livestock products, customs, real estate transactions, online voting, transnational e-documents and maritime shipping.
An official at the MSIP said that the projects may kick off as early as this year’s end, allowing the public to experience blockchain technology in their daily lives. The aim is to use the technology to help reduce unnecessary costs in society.
In the process, citizens will be able to experience the effectiveness of the technology for themselves. In addition, the MSIP plans to nurture professionals in the sector to ensure that there is enough manpower to develop competitive blockchain platforms by local firms.
To support this idea, the ministry is aiming to secure 90 percent of the global industry’s leading technologies and foster 10,000 blockchain professionals to ensure that by 2022, there are at least 100 internationally-competitive firms.
An official at the MSIP said that the domestic market for blockchain is expected to reach 1 trillion won by 2022. “The MSIP expects that 10,000 experts will be needed by then,” said the official.
H. S. Seo (firstname.lastname@example.org)