In the last couple of months, more and more companies moved towards exploring blockchain technology. Presently, the report shows that South Korea’s state-owned telephone giant KT Corporation is starting its own blockchain-based commercial network. They have begun to create a blockchain system on top of the national telecommunication network. The expected benefits incorporate a more secure, and transparent network.
South Korea’s position towards
cryptocurrencies and blockchain-based technologies has suddenly improved over the last months. The government is beginning to become more supportive of fintech projects is actively seeking regulations to create an innovation-friendly environment while maintaining the framework able to protect clients. These advancements, research endeavors showcase that Korea’s blockchain market is expected to increase by over 20 times before the end of 2022, from a value of $44 million this year to past $887 million four years from now.
