The Gangwon Province will issue a blockchain-based cryptocurrency for tourists visiting the region. However, it may take time because the central government is negative on the cyber currency.
Governor Choi Moon-soon unveiled the plan in the 2019 Blockchain PyeongChang Forum, which opened Monday at the Alpensia Resort.
He said last year 103,000,000 tourists visited the province, out of which three million are foreigners. The province would seek the advice from China’s Hainan region on the issuance of the ‘regional currency.’
He has yet to decide when the cryptocurrency would be issued and what is the name of the currency. “I want to issue the cyber currency immediately, but we must consult with the central government on the issuance for legal clearance,” the governor said.
About 1,000 people from 10 countries, including China, the United States, the United Kingdom, Thailand, and Singapore, attended the forum. The participants would issue a joint communique to launch the International Blockchain Committee to discuss a global standard.
The central government has been lukewarm in introducing the cryptocurrencies, but the Gangwon Province hopes to establish the global cooperative partnership on establishing global blockchain rules and stimulate the creation of the blockchain ecology worldwide, a Gangwon Province spokesman said.
