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Blockchain experts call for government support in fostering digital asset businesses

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The Korea Digital Asset Industry Committee highlighted the need to create a government organization committed to fostering blockchain businesses.

On Thursday, stakeholders in the blockchain industry and academia gathered to debate on how to better capitalize on the emerging opportunities of digital assets. The panel stressed the importance of fostering digital economy — as in, cashing in on digital technologies — in order for Korea to grow into the fifth-largest economy.

“In the era of the Fourth Industrial Revolution, true digital transformation means taking advantage of the growing business opportunities around digital assets. We need to create a government organization at the ministerial level to promote businesses that utilize technologies such as cryptocurrency, decentralized finance, Decentralized Autonomous Organization, nonfungible tokens, and the metaverse.” said Song In-kyu, CEO of Incutech.

In an earlier debate held during the launch of the Digital Asset Industry Committee in mid-February, participants called for a digital New Deal. Steered by the government and…

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