South Korea to allocate $ 9 million to support blockchain startups in 2020
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The South Korean Internet Safety Agency (KISA) has approved $ 9 million in funding to support blockchain projects in 2020. Crypto startups and crypto exchanges cannot participate in the program.
On next year will choose about 10 projects, and 1-2 of them will even be able to count on financing within several years. Maximum support for one member cannot exceed $ 1.2 million.
The program is open to blockchain startups representing both the public and private sectors..
Although KISA has ruled out support for cryptocurrency projects and exchanges, support may calculate projects implemented by large financial institutions that involve attracting tokens.
Despite the substantial budget of the program for 2020 year, it is less than $ 11 million, which were allocated in this year and distributed among 12 participants. During the discussion of the initiative, the South Korean National Information Technology Development Agency also pledged to support blockchain-related projects..
Recall that recently scientists found out how blockchain will affect the Russian economy.