Bitcoin regulation is an ever-evolving topic, especially in the United States where national legislation is impacted by individual states.
The Korea Radio Promotion Association, together with the Jeju University have signed a Memorandum of Understanding to allow blockchain activity and education in the Jeju area.
According to local blockchain news outlet Seoul Economic Daily, the agreement will also see the Korea Radio Promotion Association (RAPA) and Jeje’s research center work together to develop and maintain the building of blockchain technology within academia and the industry.
Furthermore, the Memorandum of Understand will stand to direct the area to become well-established in blockchain and will see that competition in the development of blockchain increase to promote a healthy ecosystem.
Korea has not been shy of blockchain technology in the past. As reported earlier this year, the Korean Customs Service teamed up with Samsung SDS to establish an improved method of tracking. At the time of the announcement, the release stated:
“The Korea Customs Service plans to establish a cooperation system to jointly respond to changes in the industry while restructuring business procedures and establishing export customs and logistics services with civil organizations participating in the project.”