Blockchain Technology Can Revolutionize the World

Even as on trip to China for financial talks, South Korea’s Finance Minister Kim Dong-Yeon spoke definitely about the ability for Blockchain, noting that Blockchain can disrupt and revolutionize the globe, in line with the South Korean-based Yonhap information organization.

Throughout a meeting with Zhou Xiaochuan, governor of the People’s Bank of China, Kim Dong-yeon additionally mentioned a need for more cooperation with China on Blockchain. Overall, Kim Dong-yeon reiterated that the South Korean Finance Ministry has no plans to prohibit or limit digital currencies within the South Korea.

Kim Dong-yeon

Kim Dong-yeon stated:

“Blockchain is an essential technological step forward to fuel the fourth commercial revolution and as such, the ministry will take a careful method in regulating the digital currency marketplace. For bad use instances of digital currencies, the ministry will impose strict policies.”

Even as a few have made the case that digital currencies aren’t essential for nevertheless reaping the advantages of Blockchain, Kim Dong-yeon sees the two as inextricably related.

blockchain

Kim Dong-yeon stated:

“For open-source blockchain networks, digital currencies are essential as incentives for people to take part within the network.”

Yeon’s nice feedback about Blockchain and digital currencies come after a period of harsher regulations on digital investment and exchanges in South Korea, with the South Korea’s ban on anonymous buying and selling of digital currencies and a false scare of a general digital ban making the markets dip.

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