Ministry of Science and ICT “Creating a Blockchain Ecosystem with Global Competitiveness”

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Won-Tae Lee, Director, Korea Internet & Security Agency (Courtesy of KISA) © News1

“We will do our best to discover successful cases where we can experience blockchain technology in real life, create a blockchain ecosystem with global competitiveness, and realize a digital trust society with blockchain.”

Kang Kang-hyun, the Ministry of Science and Technology Information and Communication’s Information and Communication Policy Officer (Director), said in a congratulatory remark on the 8th,’Digital Economy Policy Conference Innovating with Blockchain’.

Director Kang said at the event, “There are economic difficulties brought about by the novel coronavirus infection (Corona 19), but paradoxically, there was a new opportunity for digitalization to become full-fledged.” It is a technology to do it.”

“I think that the blockchain is one step closer to the new industrialization,” he said. “The public service card has also included block chain technology, so there is no need to patrol the public service card. As such, recently distributed ID (DID), vaccination certificate, and non-replaceable Various applications such as tokens (NFT) and central bank digital currency (CBDC) are emerging, and there is a high expectation for the development of the industry,” he added.

Regarding the Ministry of Science and ICT’s blockchain support policy, Director Kang said, “We are implementing the blockchain technology diffusion strategy announced in June of last year. To overcome the limitations of blockchain technology, we invested 120 billion won in 5 years to improve transaction speed. We are developing original technologies for large-scale data management, and we are expanding and proceeding with major pilot projects. We are trying to support the creation of demand for discovering various blockchain services. We have also started improving the legal system to prevent the spread.” .

At the conference, Lee Won-tae, director of the Korea Internet & Security Agency, said, “In the era of digital transformation that creates new value through the convergence of ICT technologies, a blockchain that guarantees high data reliability will become the core infrastructure.” As an information protection and digital professional organization, we will lead the creation of an ecosystem of innovative blockchain technologies.”

Meanwhile, this conference hosted by the Ministry of Science and ICT and organized by the Korea Internet & Security Agency (KISA), the Blockchain Law Association, and the Korea Information Security Association was prepared to view changes in the economic and social structure triggered by blockchain technology. To prevent the spread of Corona 19, this event was held in a way that minimizes the number of on-site personnel and parallels it online.