SK Finance Minister, Kim Dong-Yeon: Need More Blockchain Technology Development Collaboration With China.
Cointime (February 05) — Kim Dong-Yeon, the Korea Finance Minister, revealed he is confident with the potential of blockchain technology during his visit to China. He believes “blockchain technology can disrupt and revolutionize the world.
During his visit to China, he also met with Zhou XiaoChuan. Zhou is the Governor of the People’s Bank of China. King spoke to Zhou about the necessity of collaborating and developing blockchain technology with China.
Another Korean news source report, Kim reiterate that the Finance Ministry of Korea does not have plans to ban or restrict cryptocurrency. He said,
“Blockchain technology is an important technological breakthrough. It will fuel the fourth industrial revolution. Thus, the ministry will take a cautious approach in regulating the cryptocurrency market. The ministry will impose the strict regulation on the negative use of cryptocurrencies.”
Although some people believe blockchain does not need cryptocurrency to profit, Kim believed,
“For open-source blockchain networks, cryptocurrencies are necessary as incentives for individuals to participate in the network.”
Kim’s view on blockchain and cryptocurrency improved after South Korea’s policy forbid users trade cryptocurrencies anonymously. At the time, South Korea’s cryptocurrencies investment and exchange spread panic through public and caused cryptocurrencies value to drop.
Executive editor： Angel