Development of Blockchain Tech can Change the World
Development of Blockchain Tech can Change the World
Kim Dong-yeon, South Korean finance minister, during a trip to china stated that blockchain technology can “change the world” he also stated during a meeting with the chief of China the importance of blockchain technology. Yeon simultaneously calling on the two countries to come together in blockchain technology for research and development.
Kim was speaking at a meeting in Beijing when he stated:
“Blockchain technology has the potential to become one of the core infrastructures of the fourth industrial revolution. The development of blockchain technology can really change the world.”
According to Yonhap news, Kim Dong-yeon when visiting a technology hub in Beijing ahead of meeting with Chinese added South Korea needs to establish cooperative tie with china over blockchain. In demonstrating an understanding of the technology, cryptocurrencies are entirely essential for public blockchain networks, contrary to calls to separate the two.
Kim stated:
“For open [blockchains], it has to have mining with cryptocurrencies as a reward for the person who creates the block.”
The embarrassment comments of the Korean official on blockchain technology come within a few days of revealing a clear opinion on the government's attitude towards cryptic frequencies.
Emphasizing the need to regulate cryptographic exchanges in the country, Kim said last week:
"Blockchain technology is an important technology and we [the government] will have to develop it."