Busan Sets Sights on Becoming Blockchain Hub Through Urban Blockchain!

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Busan, South Korea’s second-largest city, is making headway in blockchain technology as it builds an urban blockchain that will be compatible with Ethereum, Cosmos, and other platforms. In line with this, Busan has set its sights on launching a city exchange in the first half of 2024 that will enable trading of tokenized precious metals such as gold, silver, copper, and oil. The city has also established a blockchain fund worth 100 billion won, or roughly $75 million. With these moves, Busan aims to become a leading blockchain hub in South Korea and attract more investments in the technology.