The South Korean government’s stand on blockchain regulation was castigated by a blockchain researcher, as reported in the local media.
Park Sung-Joon, Blockchain Research Center’s head at Dongguk University, in his address to Lee Geun-woo, South Korean Financial Supervisory Service (FSS) chief, stated using different approaches to cryptocurrency and blockchain was pointless.
He contended those two can not be separated:
“In the digital asset trading market, virtual currency and blockchains cannot be separated because they need the appropriate means of payment.”
Lee Geun-woo answered:
“I sympathize with the words of Park Chan-hee, and I will pass on his suggestions to the financial authorities.”
The desire to level the field for cryptography in higher government levels leaves a room for criticism against the blockchain hype.
Concurrently, government researchers implied blockchain projects are widely ineffective, staying in the market for only 15 months on the average.
(Image Source: www.feco.info)</em