The South Korean The blockchain association plans to create a special cryptocurrency hub, called the "Crypto-Valley District", in the urban area of the city of Gwangju.
According to official press releaseKorea Blockchain Enterprise Promotion Association (KBEPA) will meet the mayor of Gwangju, Lee Yong-Sub and other representatives of the city. The Association is sure that such a project can attract many investments and stimulate the growth of the local labor market.
The representatives of KBEPA and the universal group declared:
"We plan to officially meet Mayor Lee to deliver the recommended plans to announce and transform Gwangju into a special government cryptocurrency city.We also plan to meet counselor Kim Dong-Chan 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 it will create about a million new jobs.
In addition, the spokesman for the universal group, Kim In-Ki, cited Estonia and Malta as a better example of how the implementation of blockchain technology can change the country in a better way.
"Estonia and Malta were the forerunners of the fourth industrial revolution by successfully attracting global blockchain corporations to invest in their cities and enjoyed astronomical gains in the number of jobs created, and our government has tried to create new jobs focusing myopia on the manufacturing industry – automobile or naval – neglecting the rise of the fourth industrial revolution ".
However, the Association has criticized the South Korean government for be too strict with cryptocurrency and blockchain, pushing some domestic exchanges to open headquarters somewhere abroad.
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