August 31, 2018  •   Momentum News

Gyeongsangbuk-do Province featured on Bitcoin.com

Momentum Protocol News

In August, Momentum Protocol hosted a private event for project participants & token buyers and invited, among others, ten delegates from the Gyeongsangbuk-do Province. As shared in our update: Hammerteam – Momentum Protocol – South Korean Government cooperation in the blockchain area, Momentum Protocol signed an agreement with the parties involved.

The cooperation will support measures that will further develop the blockchain industry in South Korea and Switzerland and bring new breakthrough technologies and innovation. The partners will build and support blockchain initiatives, integrate solutions built on blockchain into the industry as well as train industry professionals.

Bitcoin.com featured our cooperation in this article:

Korean Province to Replace Local Currencies With Crypto

Pohang, one of the largest cities in the province with over half a million inhabitants, is the nation’s largest issuer of these gift certificates, according to Kyongbuk daily newspaper. In May, the news outlet reported that the city had sold 100 billion won (~US$ 90 million) worth of the Pohang gift certificates since January last year.

According to Joongang Ilbo, the province’s Science and Technology Policy Department announced on August 27:

10 banks, mobile communication companies, a university research team and government officials of Gyeongsangbuk-do will gather for the first time for the issuance of the cryptocurrency.

Gyeongsangbuk-do recently sent a benchmarking team to the canton of Zug in Switzerland, which is home to many crypto startups such as Shapeshift, Xapo, and the Ethereum Foundation. The team, consisting of 10 members including some outside experts, met with a number of government officials and local businesses.

Read the whole article here.

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