Busan is developing an Ethereum-compatible mainnet to become a ‘blockchain city’

South Korea’s second-largest city, Busan, is

Busan City is also involved in the process of establishing the Blockchain Trust Framework technology standard conducted by the Korea Internet & Security Agency.

The project aims to improve the quality of private services and encourage interconnection between services by presenting requirements such as blockchain technical system, performance and security level. The standard will also be utilized for public services within Busan City.

The long-term blockchain development plan also includes the development of the Busan digital asset exchange in the first half of 2024. The digital exchange will not only list digital assets but also tokenized securities, including precious metals and raw materials, such as gold, copper and oil. In the future, the administration behind the projects aims to tokenize and trade global intellectual property rights and carbon emissions rights.

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