Crypto Replaces Currency of a Korean Province crypto : Gyeongsangbuk-do

Crypto Replaces Currency of a Korean Province crypto : Gyeongsangbuk-do

September 6, 2018 Off By dan saada

A turning point would happen to the currency of a South Korean province. Digital currency finally makes its entrance into the new mode of payments in the Korean province. Right now, plans are going steady as merchants accept the coming of crypto to Korean soil. People can expect to use digital currency using their smartphones.

It’s the beginning of a new phase to the system of exchange in the nine cities in the province.

Gyeongsangbuk-do, the province in South Korea is making large efforts to replace the current currency in its nine cities. The actions of the province started earlier this week. People are eager to know more about the actions of the officials of the said province. As of now, the nine cities are issuing gift certificates to the public.

It serves as a form of encouragement for others to use digital currency. The issue of gift certificates is the first start for the upcoming efforts of the province to have bitcoin age. Polang, the largest city of the nine cities is one of the primary sources of the gift certificates. The news states that Polang was able to sell 100 billion of certificates in the market. The result of the selling gives a sure hint the other cities in the province are also ready to use bitcoin.

The tentative name for the coin would be Gyeongsangbuk coin. Earlier reports state that the province is planning to make this a medium of exchange soon. The 100 billion sold by the province offers a great possibility that merchants would also use it too. The province aims to create an exchange that uses the coin for paying and selling.

Recently, Gyeongsangbuk-do sends a team to Switzerland to find out more about bitcoin.  The action would result in further knowledge about bitcoin. The team has ten members and hopes to return from the trip with success. The team includes experts who would have a meeting with government officials and merchants.

The benchmarking would assure they would create cards that they can use to offer bitcoin. Bitcoin users are starting to feel the change of using digital currency. It’s only a matter of time for other users in the province to accept the great change. As of now, reports say that plans of crypto exchange are in the process.

The future of bitcoin in South Korea would be a milestone that people can treasure. Merchants are eager to try the effectiveness of bitcoin.

Related Post

Share
  • 127
    Shares