Seoul Mayor Announces 5-Year Mega Plan for Elevating Blockchain Tech Sector

[Goodcat49]

Park Won-soon, a mayor of Seoul, has brought a 5-year plan for creating and progressing blockchain technology sector in the city, according to the Thursday, October 4 report from local news outlet Yonhap News.

The project dubbed "Blockchain City of Seoul" has several measures for elevating and developing blockchain technology-related initiatives plus education in Seoul from the year 2018 to 2022, Won-soon noted in his speech on Thursday.

Industry Experts to be Trained
By the year 2022, Seoul plans to configure a public-private fund of $88.2 million with the aim of investing in blockchain technology startups in the city. The fund will obtain $11.9 million from Seoul city government.

Further, Seoul city authorities are considering spending $53.1 million on forming two business hubs to accommodate 200 blockchain companies by the year 2021. The two upcoming infrastructures, that will be placed in the southeastern and western regions of the city, will run two educational hubs, focusing on training 730 blockchain sector experts in the next half a decade.

As per ZDNet Korea, Won-soon also revealed plans to use distributed ledger technology (DLT) in the administration of Seoul. Beginning 2018, authorities are considering to roll out 14 blockchain-powered systems such as vehicle history reports, voting system and charity management.
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/seoul-mayor-announces-5-year-mega-plan/