South Korea is emerging as a world leader in blockchain, and is moving further into embracing the technology and its potential with a hackathon, Cointelegraph reports. Click through to read more about how the government is encouraging widespread participation in blockchain, continuing with events in September such as a youth training initiative.
The brainchild of the Korea Internet & Security Agency (KISA) and Korea IT Industry Promotion Agency (KIPA), the event is now accepting applications and will run in late November as part of the state-sponsored ‘Blockchain Promotion Week.’
Also supporting the scheme is the Korean Ministry of Science and ICT, which has begun a comprehensive blockchain awareness program stretching into 2019.
According to local news outlet Money Today, the hackathon will focus on “solving social problems and innovating public and private services through blockchain technology, and the development of distributed apps (DApps) […] for improving the efficiency of the public and private sector, providing nationwide benefits.”
The winning team will receive a prize worth 100 million won (about $90,000), with applications open until September 28.
Image credit: Cointelegraph
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