Report: Most firms in Korea’s ‘blockchain city’ don’t know what blockchain is

imageCryptocurrency43 minutes ago (Sep 19, 2020 06:00AM ET)

Report: Most firms in Korea’s ‘blockchain city’ don’t know what blockchain is

A recent report from the Busan Research Institute has revealed a peculiar trend: 62% of firms in the blockchain sandbox city of Busan, South Korea apparently do not know anything about the technology.

Since last year, Busan has been considered a “regulation-free” zone for blockchain development by the South Korean federal government. The city has undertaken numerous projects in the blockchain space including plans for a blockchain-based virtual power plant, and even its own municipal cryptocurrency.

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Report: Most firms in Korea’s ‘blockchain city’ don’t know what blockchain is

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