A South Korean city will allocate millions of dollars to promote education in blockchain

Daegu, South Korea’s fourth largest city, has announced it will allocate 7.1 billion won (about $6 million) to promote Bitcoin Future education and artificial intelligence.

According to an article recently published by the local information portal Up Korea, in doing so, Daegu officials aim to solve the problem of „serious lack of resources invested in the development of key technologies of the fourth industrial revolution“. The government of Daegu plans to attract talented individuals from every region of South Korea to the city, offering courses dedicated to blockchain, artificial intelligence and big data.

The ICT Innovation Square in Daegu will oversee these free courses on blockchain, which will last three years. Up Korea emphasizes that Daegu’s training programs will also offer the opportunity to attend classes at night and on weekends.

South Korea and blockchain

In May this year, Suseong University in Daegu entered into an agreement with the Korea Artificial Intelligence Association (KORAIA) to create a new campus dedicated to blockchain and artificial intelligence.

The South Korean government firmly believes in the potential of blockchain. In April, Koo Yun-cheol, Deputy Minister of Strategy and Finance, said that this technology represents „a golden opportunity“ for the country:

„The size of the blockchain industry is expected to grow by an average of 80% per year. It is gaining competitive support from many foreign countries, as it could become a very promising technology for the future“.