South Korea’s Jeju Aims for Cashless City With Blockchain

South Korea’s Jeju plans to implement digital payments for cross-border transactions. The proposal is part of the “Jeju AI and Digital Transformation Roadmap.” Jeju remains a pro-cryptocurrency region after several years. Jeju, South Korea’s special self-governing province, has announced plans to implement digital payments for cross-border transactions. The province included the digital payments initiative in its “Jeju AI and Digital Transformation Roadmap.” According to a recent announcement, the roadmap aims to revolutionize Jeju into a cashless international city. Under the new plan, Jeju will enable digital asset-based cross-border payments with neighboring countries like China and Japan. The system will allow digital assets, including Bitcoin, to convert into Jeju’s regional currency for local use, streamlining transactions. It is important to note that the recent proposal is one of Jeju’s numerous pro-cryptocurrency activities, spanning many years. As far back as the 2018 ICO era, the then-governor of Jeju, Won Hee-ryong, called for legislative action to support his proposal towards making the region a global blockchain hub. Hee-ryong asked t… The post South Korea’s Jeju Aims for Cashless City With Blockchain appeared first on Coin Edition .