Crypto Short News

S. Korea’s Busan to Have Blockchain-Based Currency by 2020

KT, the South Korean telecom company, is selected by the Korean government to issue a local blockchain-based currency in Busan. ‘Dongbaekjeon’, with annual issue amounting to 300 billion WON is a blockchain-based local currency. This currency is reported to go live on Dec 30, 2019, as per a local news report. Further, the report claims that Dongbaekjeon will revitalize Busan’s local economy and ease the management burden of small businesses. 

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There are several ways to access this currency namely through a mobile app, Hana Bank or Busan Bank window. However, it cannot be traded immediately at local supermarkets or other retailers. 

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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