According to the published report of the South Korean state Bank Korea Development Bank (KDB), North Korea is engaged in cryptocurrency mining and studying blockchain technology, including for the development of its own cryptocurrency exchange.
"Apparently, North Korea is trying to mine cryptocurrencies, but for lack of sufficient equipment, this activity does not allow to talk about any serious scale," the publication says. "In the period from may to July 2017, North Korea made attempts to extract bitcoin, however, most likely, they were unsuccessful."
In addition, KDB representatives claim that in North Korea they are studying " the properties of cryptocurrencies, including their anonymity, opportunities for tracking and cashing out."
"One of the North Korean technology firms called Chosun Expo is developing and selling a platform for bitcoin exchange in the market," Yonhap writes, without giving any details.
In addition, KDB notes that at the moment the development of the crypto-currency sector in North Korea, if it goes, is very slow, since the country lacks a developed infrastructure, high-performance computers and a high-speed Internet channel.
"In the current situation, when access to certain levels of the Internet is very limited, it will greatly complicate the development of the crypto — currency industry," the South Korean portal Speconomy says.
In April of this year, the travel company Koryo Tours, specializing in trips to North Korea, announced its decision "to create and launch a new cryptocurrency designed exclusively for the tourist industry of the Democratic people's Republic of Koryo Coin". Koryo Tours even promised to hold an ICO for these purposes.
In KDB said that according to their data, the average citizen of North Korea, "the practical has no idea about what crypto-currencies". Referring to" recent interviews with refugees from North Korea, "the Bank said that"in the North of cryptocurrencies heard nothing."
Last week, there were unconfirmed rumors that a conference on blockchain and cryptocurrencies could be held in North Korea, which will be visited by foreign experts and will tell representatives of local state enterprises about new developments in the field of FINTECH.
