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A senior South Korean government official has joined the research group on blockchain VC Hashed. The figure is Kim Yong-beom, who served as South Korea’s deputy minister of economy and finance until last year. Since his resignation, Yong-beom has decided to join cryptocurrencies as an advisor.
It’s no surprise that a South Korean government official has been involved in the development of blockchain technology since leaving office. After all, the country is still the most tech-friendly country in the world. All of which constitutes fertile ground for blockchain and cryptocurrency adoption.
Kim Yong-beom joins Hashed’s research department with foresight about the potential of blockchain technology in boosting the country’s economy for decades to come. In the 90s, South Korea gained ground in Japan’s electronics manufacturing industry as companies like Samsung focused on the market and grew into a tech giant.
Many in South Korea believe that the same can happen with blockchain adoption. This allowed the country to prove itself in the future and spurred the wave of technology to continue to develop.
Yong-beom explains:
“Since working as a senior economist at the World Bank in early 2000, I’ve been thinking about the possibility of South Korea becoming a global economic powerhouse based on new technology.” “After resigning at the beginning of last year, I heard about South Korea’s competitiveness in the blockchain sector and the digital economy when meeting young talent.”
One of the key events is Korea Blockchain Week, co-hosted by Hashed and it is believed that the event paved the way for Yong-beom to take on his advisory role with Hashed Open Research. The organization will lead the research into the underlying technology as well as explore how blockchain is widely adopted.
Yong-beom predicted:
“South Korea has the potential to become the G2 with the U.S. in the digital realm if appropriate regulations are established and applied,” “It is encouraging that the new Government of South Korea has issued a Regulation on Basic Digital Assets and is accelerating the institutionalization process.”
The Hashed Open Research advisor believes his organization can host a panel discussion between blockchain experts and government agencies.
