Crypto News

South Korea will allocate $9 million to support the blockchain startups in 2020


The South Korean Agency for Internet and security (KISA) has approved funding of $9 million to support projects related to bacchanal, in 2020. The program can not participate CryptoStream and crypto currency exchange.

The following year, will select about 10 projects, and 1-2 of them will even be able to count on funding for several years. Maximum support for one participant may not exceed $1.2 million.

In the program can participate blockchain startups, representing both public and private sector.

Although KISA has ruled out supporting cryptocurrency projects and exchanges, to support projects implemented by large financial institutions involving tokens.

Despite the significant budget of the programme for 2020, it is less than $11 million that were allocated this year and distributed to 12 participants. During the discussion of the initiatives of the South Korean national Agency for development of information technology also promised to support projects related to Baccano.

Recall that recently scientists have discovered how the blockchain will affect the Russian economy.

text: Ivan Malichenko, photo: Getty Images


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