A recent report from the Busan Research Institute revealed a strange trend: It seems that 62% of companies in Busan, South Korea do not know anything about technology.
Since last year, the South Korean federal government has viewed Busan as a “regulation-free” blockchain development zone. The city has implemented several blockchain projects, including plans to create a virtual power plant based on blockchains and even its own municipal cryptocurrency.
This makes the disappointing results of the Busan Free Regulatory Zone Revival Report, published by the local media company Fn News, even more surprising.
Exactly 91% of 100 companies surveyed from various industries said they did not plan to implement blockchain technology.
In a separate survey of 26 blockchain-related companies, 23% complained about the regulatory obstacles they have recently encountered.
Furthermore, 19% of blockchain companies said they felt lonely about development, blaming the lack of public support for blockchain implementation, while 15.4% expressed concern about the lack of technology and human resources for technology development.
Looking ahead, the report gives some advice to the government to improve support for blockchain companies in the city:
“From a market perspective, there is a need to attract and integrate many related companies. Marketing support is important for finding the most demanding companies, educating professionals and developing technology. ”
He also stated that current blockchain applications are mostly limited to the service sectors, and suggested using this technology for industry and industry.