Report: South Korea to Launch ‘Full-Scale’ Blockchain Financial Services Pilot in 2017

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In an proclamation today, South Korea’s Financial Services Commission (FSC) – a country’s primary financial regulatory and management – has suggested a devise to launch a blockchain-powered commander plan for financial services this year.

While sum are scarce, a news by internal proclamation Korea Herald points to implementing blockchain record as a core infrastructure for a unconditional financial services platform.

The proclamation comes only over a month after the formation of South Korea’s initial blockchain consortium. A organisation of 21 financial investment companies and 5 blockchain record firms sealed a memorandum-of-understanding to rise distributed bill solutions as a consider tank for a Korean collateral market.

The government-civilian consortium has been spearheaded by authorities like a FSC and a Korea Financial Investment Association. “It skeleton to embark on a commander plan in aspiring this year,” settled FSC clamp authority Jeong Eun-bo.

The operative organisation is a partial of a wider, noted bid by a South Korean supervision to foster a country’s Fintech sector. Pledging three trillion won ($2.65 billion) in financial support for industry


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