El Salvador President Nayib Bukele took a victory lap on Monday after the Bank of England’s British pound rapidly depreciated against the dollar. The institution has since resumed quantitative easing. Its action marks a clear pivot that many in the Bitcoin community predicted central banks would be forced into months in advance. Bukele’s Callout Bukele tagged the Bank of England with a triumphant “Told you,” over Twitter, scoring over 14,000 like and 2000 retweets from his followers. His brief comment…
Interestingly, the government of South Korea has noted that the blockchain market stands for a “golden opportunity” for the country. The government is admonishing private sector firms in the country to exploit this potential.
During the meeting, they talked about opportunities in the European and U.S. markets. According to Koo, something good is on the way concerning blockchain technology development in foreign markets.
While speaking, Koo said that the number of industry related to blockchain is anticipated to grow by over 80 percent yearly on average, and is competitively providing support to foreign nations towards preoccupying the market that is attracting attention as a potential technology ahead.
When it comes to the Blockchain technology gap between the U.S., Europe, and China, Koo noted the possibility of its reduction within the coming two or three years.
The effort to make this happen should be collaborative. Hence, the government of South Korea needs to strengthen initial market creation. During the same meeting, the government was admonished to be up to the task of moving the space forward.
If the government creates the market, it could enjoy the opportunities it avails, they argued. The South Korean government is yet to announce any remarkable budget to strengthen the blockchain industry of the country.
Reports have it that two South Korean ministries said they are supporting the blockchain industry through the allocation of up to $3.2 million in funding to local startups.