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'It's time to transform Korea into hub of blockchain unicorns'

Lawmaker calls for bold deregulation to build innovative safety net for startups

  • Janice Yunji Kim
  • 2019-01-30 17:45:04
'It's time to transform Korea into hub of blockchain unicorns'
Rep. Lee Sang-min of the ruling Democratic Party of Korea /Janice Yunji Kim

“To become a blockchain superpower, it’s essential to transform Korea devoid of innovation into a hub of blockchain unicorns.”

Rep. Lee Sang-min of the ruling Democratic Party of Korea made the remarks in his opening speech at a blockchain conference held at the National Assembly, stressing the need to “build an innovative safety net through which venture companies can challenge ceaselessly via bold deregulation.”

The conference, organized and supervised by Rep. Lee and supervised by K-FiNNeT and Rep. Lee, was held under the theme “Hyperconnected society and laws for blockchain-based innovation.”

“The Fourth Industrial Revolution is led by highly innovative unicorn startups like Uber and Airbnb as well as Google, Amazon and Apple,” Rep. Lee said. “Korea must foster thousands of unicorn startups to be a blockchain superpower.”

At present, Korea remains stuck in a mid- and long-term stage of low growth. In connection with this, Rep. Lee said, “Blockchain can be a solution to this problem. Blockchain will contribute to tackling social instability and increasing benefits by building confidence.” “It’s necessary to bring talented youths all over the world to our blockchain unicorn valley while carrying out the movement for qualitative growth, not for quantitative growth. The National Assembly will do its utmost to achieve that goal through policy-making and legislation,” he added. /yjk@decenter.kr


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