South Korean Internet Security Agency(KISA) approved funding of $ 9 million to support blockchain-related projects in 2020. Crypto start-ups and crypto-exchanges cannot participate in the program.
About 10 projects will be selected next year, and 1-2 of them will even be able to count on financing for several years. Maximum support for one participant cannot exceed $ 1.2 million.
Blockchain startups representing both the public and private sectors can participate in the program.
Although KISA excludedsupport for cryptocurrency projects and exchanges; projects implemented by large financial institutions that involve attracting tokens can count on support.
Despite a substantial program budget for 2020year, it is less than $ 11 million, which were allocated this year and distributed among 12 participants. During the discussion of the initiative, the South Korean National Information Technology Development Agency also promised to support blockchain-related projects.
Recall that recently, scientists found out how blockchain will affect the Russian economy.
</p>Read this:
Six industries that blockchain will penetrate in 2020
Japan will begin regulating ICOs in 2019
In Russia, will launch new platforms based on blockchain technology
David Marcus: Libra will be released in 2020
Ethereum ETH Futures To Be Launched In 2020
Bakkt will launch cryptocurrency shopping app in 2020