Kim Dong-yeon, South Korean F.M believes that Blockchain can revolutionize the world

During a ministerial trip to China, South Korea‘s finance minister has announced that blockchain technology can modify and change the world.

South Korean finance minister Kim Dong-yeon has explained the necessity of blockchain technology while speaking with the chief of China’s central bank on cooperative economic policies. While signing on a cooperative economic agreement with China during a two-day visit. He also spoke about blockchain technology while inviting both countries to come together and join with the research and implementation of the blockchain technology.

Korean News Paper Chosun wrote:

“Blockchain technology has the potential to become one of the core infrastructures of the fourth industrial revolution. The development of blockchain technology can really change the world.”

While describing the blockchain technology, Yeon added that cryptocurrencies are required for public blockchain networks, contrary to calls to separate the two.

He told:

“For open [blockchains], it has to have mining with cryptocurrencies as a reward for the person creating the block.”

Kim also mentioned the necessity of regulating the cryptocurrency exchanges in the country.

Kim noted: