Seoul Mayor Proposes Blockchain Incubation Centre in Re-Election Pitch


The mayor of the South Korean funds Seoul has pledged elevated aid for blockchain growth as he pitches for re-election in June.

According to a report by CoinDesk Korea on Monday, Mayor Park Gained-shortly, who has occupied the placement since 2011 and is trying to find a 3rd time period in office, lately declared his determination to aiding the city’s Mapo district develop into a centre for blockchain incubation.

The report mentioned that, presently, the city federal government is pushing for the establishment of 6 big new industrial complexes to foster innovation in Seoul.

Park’s blockchain determination, declared on Could 20, pledges to flip one particular of the complexes – Mapo Fintech Lab – into a committed hub for fintech and blockchain growth, creating it the initial proposal from the Seoul Metropolitan Govt to aid the nascent blockchain area.

The promised initiative, according to the report, follows the mayor’s remarks in April that the city would request to utilize blockchain know-how throughout different public providers, which includes municipal administration and federal government subsidy management, in bid to to maximize benefit for the public and governance transparency.

Early final month, in an interview with CoinDesk Korea, Park also unveiled his strategy to develop the city’s personal cryptocurrency – dubbed “S-Coin” – which would be used in city-funded social gains plans. The mayor also indicated at the time that Seoul could launch a committed fund to aid the expansion of blockchain startups.

Park Gained-shortly picture courtesy of Hankyoreh

The chief in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic criteria and abides by a stringent set of editorial insurance policies. CoinDesk is an unbiased working subsidiary of Digital Currency Team, which invests in cryptocurrencies and blockchain startups.