South Korea’s telecom giant KT introduced its blockchain-based money.
South Korea’s largest telecommunications company, KT, announced in a recent announcement that the blockchain-based local currency market in one of the country’s largest cities in Busan announced.
On December 19, Dongbaekjeon was launched in Busan, a blockchain-based currency. It is estimated that the relevant currency will completely change the local economy and make small businesses easier.
KT has also collaborated with major banks such as Hana and Busan Bank for this initiative, and users will be able to use the currency from the mobile application Dongbaekjeon or from two banks. The local currency, which can also be loaded with a card, can definitely catch serious use and momentum in South Korea, where cash use is one of the lowest in the world.