About Korea’s vibrant crypto market

Korea will lead the way for global de-centralization?

Hi Steemians - I think Korea is far ahead compared to any other country what the acceptance and development of blockchain and -de-centralized solutions are - do you agree? A lot start-ups are rising there right now. The country is anyway special in terms of blockchain and crypto. The nation breathes crypto one could say. In which other country you can go in a shop and buy Bitcoin - in Korea all is possible.

Korea could be the first country where crypto currency will soon become fully integrated into everyday life - that could be a role model for the entire globe.

Why that Crypto Boom in Korea?

There are several factors for the success of blockchain and alternative currencies. Some factors have been:

• Social factors
  The economic slowdown and increases outsourcing and automation became a major problem for the country with around 10% unemployment rate amongst people in their twenties and thirties. Many Koreans has issues to earn enough for their living so the crypto boom of 2017 made them invest a lot to improve their financial situation.

• Technology awareness
  Korea was always hot for the newest technologies, the country has the fastest internet of the world for example. Koreans are usually interested in all the latest tech hypes, some of them were providing tools that help make cryptocurrency adoption even easier - so a logic trend.

• General acceptance
  Korea has some of the biggest crypto exchanges and big global brands from the Korea re backing up this exchanges which i addition have close relationships to the government and regulators. Huge advantage compared to other countries such as the US and Europe. This increased acceptance of cryptocurrency created nearly mass adoption and crypto is used for everyday purchases of the average consumer.

Sources: The Next Web, own research, flickr, pixabay