South Korea's Jeju provincial government announced on August 14 that it had held a meeting on research for the 'Construction of Global Blockchain Hub City'. The research project will be conducted until December to find a blockchain service model suitable for Jeju Island.
The project aims to establish a strategy for discovering and utilizing Jeju-type service models based on blockchains. The research is carried out by Tilon.
The Jeju provincial government has requested Tilon to investigate and analyze advanced cases of blockchain technology. Based on this research, the Jeju provincial government will implement it as a service case that can lead the domestic and foreign markets.
In July, the Jeju provincial government had requested bids for research on the construction of a global blockchain hub city. The government invested about USD 1.4 million.
The Jeju provincial government expects to build a Jeju blockchain hub city based on this key technology of the fourth industrial revolution.
