Jeju Governor Won Hee-ryong Thursday urged President Moon Jae-in to be more proactive in blockchain business.

In a forum in Seoul with the lawmakers of the main parties, the governor said we could not gain anything without risk. He acknowledged that many risks lie ahead for blockchain. “However, through risks and failures, we can accumulate know-how and make us competitive,” he said, “The government should not block the young people’s venture spirit of challenge and creativity.”

He said President Moon could foster the development of blockchain as part of broader steps to create jobs and innovative Korean industries.

In the DECONOMY debate at the Jangchung Gymnasium, lawmakers of the three main parties stressed the need for fostering blockchain.

Lawmaker Min Byung-doo of the governing Minju (Democratic) Party said, “Blockchain has strong growth potential in South Korea as the nation is globally competitive on the Internet. He added that time has come for the government to be proactive on the blockchain.

Lawmaker Chung Byung-gook of the Barunmirae Party quoted futurologist Alvin Toffler in describing the government’s unclear rules on the blockchain. Toffler said politics go three miles and law goes one mile when technology goes 100 miles, according to Chung. This description vividly tells the current situation facing South Korea’s blockchain industry, he added.

Main opposition Liberal Korea Party lawmaker Song Hee-kyung said blockchain had not become a mega industrial trend. The lawmaker said the National Assembly could support the government’s move to foster blockchain.