A current report from the Busan Research Institute has revealed a peculiar development: 62% of corporations within the blockchain sandbox metropolis of Busan, South Korea apparently have no idea something concerning the know-how.

Since final 12 months, Busan has been thought-about a “regulation-free” zone for blockchain improvement by the South Korean federal authorities. The metropolis has undertaken quite a few initiatives within the blockchain area together with plans for a blockchain-based digital energy plant, and even its personal municipal cryptocurrency.

This makes the underwhelming outcomes of the Report on Activation of the Busan Blockchain Free Regulatory Zone, reported by native media outlet Fn News, all of the extra shocking.

Exactly 91% of the 100 surveyed firms from numerous industries mentioned that they’d no plans to undertake blockchain know-how.

In a separate survey of 26 blockchain-related firms, 23% complained concerning the regulatory obstacles which have been dealing with just lately.

Furthermore, 19% of blockchain companies additionally said that they really feel alone by way of improvement, blaming an absence of presidency assist for blockchain adoption, whereas 15.4% raised issues a few lack of know-how and human assets to develop the know-how.

Looking forward, the report identified some suggestions for the federal government to raised assist blockchain firms within the metropolis:

“In terms of the market, various related companies must be attracted and aggregated. It is necessary to support marketing support for finding demanding companies, nurturing professional manpower, and technology development.”

It additional said that present blockchain implementations are principally restricted to service sectors, and steered that the know-how must be utilized to the town’s manufacturing and industrial sectors.