SEOUL - North Korea plans to hold an international conference on blockchain technology and cryptocurrencies in Pyongyang in October, US-based Radio Free Asia said on Saturday (Aug 25).

The first-ever Korean International Blockchain Conference will be held over two-day starting Oct 1, the report said according to South Korean news agency Yonhap.

Yonhap, citing RFA, said the event will bring together experts in the cutting-edge field from around the world, and they will meet North Korean business officials on Oct 3.

North Korea appears to want to show off its capabilities regarding such technologies, a security expert told RFA on condition of anonymity.

Popularised by cryptocurrency Bitcoin, blockchain digital ledger systems improve the speed and security of digital transactions. It is particularly applicable to the banking and insurance industries.