The Korea Internet & Security Agency (KISA) has begun making full-fledged efforts to create the blockchain ecosystem. It is planning to implement pilot projects in core industries, such as logistics and energy, from April and establish blockchain development strategies and strategy roadmaps for the medium and long terms in order to preactivate the blockchain industry. This is part of the blockchain-based “I-Korea 4.0” project that aims to support the people-centered Fourth Industrial Revolution.
KISA President Kim Suk-hwan held his first press conference after taking office on Feb. 23. At the meeting, he announced KISA’s top priority project for this year, saying, “We will proactively make preparations so that we can produce tangible results that the people can be satisfied with and notice.”
The KISA has already selected six pilot projects for core industries to invigorate the blockchain industry early and is planning to place orders by the end of April. The pilot projects will focus on developing concrete business models that can use blockchain technologies in advance. Kim said, “The projects are designed to develop models that are actually possible to commercialize ad industrialize instead of blockchain source technologies.” The KISA is also considering ways to connect new blockchain business models with Hackathon for the short term verification and fintech businesses.
In addition, the KISA will revise and legislate the related law to create the blockchain ecosystem and set up the medium and long-term development strategies and strategy roadmaps for seven years by 2025.