RATE Group | South Korean President Stresses Regulatory Innovation for Blockchain
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South Korean President Stresses Regulatory Innovation for Blockchain

29 Jul South Korean President Stresses Regulatory Innovation for Blockchain

Posted at 01:10h in Ethereum News by

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South Korea’s President Moon Jae-In stated that regulatory innovation regarding blockchain technology is now a question of survival.

Regulatory innovation is not a matter of choice anymore, it is a question of survival

The President of South Korea stressed the importance of the development of new regulatory approaches towards new technologies such as blockchain in the light of the selection of Busan city as a regulation-free zone, according to a press release shared with Cointelegraph on July 24.

In the press release, Moon compared the era of industrialization to the ongoing fourth industrial revolution, claiming that the latter requires regulatory innovation as a basic must.

Moon said:

“While regulatory innovation in the era of industrialization was a matter of choice, it is now a question of survival as we are experiencing the fourth industrial revolution, characterized by fusions across industries and fields.”

The president added that creating real use cases for blockchain to…

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