Made in Korea: ICON, the Blockchain Network of Korea
Blockchain: The Future of Connectivity
ICON has managed to incorporate blockchain technology into a wide range of technological ecosystems including universities, healthcare, and banking institutions.
Min Kim is the co-founder of the ICON project. Min told us about the significance of ICON being based in Korea.
Korea Kills the Tech Competition
Min gives a comprehensive yet concise explanation of why Korea is the perfect home for a blockchain project with grand ambitions like ICON:
“Korea is a small country but has gone from a third-world country to one of the economic powerhouses of the world…it is the most educated country in the world, one of the largest distributors of technology with companies like Samsung and LG, the largest producer of steel, the largest producer of cars like Hyundai and Kia… ”
It makes sense for such a technologically capable country to house one of the most promising blockchain projects to date.
ICON’s “Loopchain Projects” promise to connect various service sectors within and between communities.
The project has already fully integrated its blockchain operations into insurance, banks, universities, and hospitals. In 2019, utilization in the securities trading sector will begin.
Citizens of Korea Already Understand Blockchain
In addition, the Korean public is much more likely to both accept and adopt this kind of technological innovation compared to citizens in many other developed nations.
When it comes to the Korean population and their general awareness of blockchain tech,
“A lot of people in the [Korean] public are already pretty knowledgeable about blockchain.”
In this regard, Korea may truly be unique. There are not many countries where anyone could make the above statement and have it ring true.
All things considered, ICON being made in Korea is both appropriate and beneficial. It’s reasonable to assume that we will see additional projects being born in Korea in the future as well.