We are witnessing incredible changes in the global economic landscape and within societies around the world. The world is changing at a rapid pace. And at the heart of this transformation is and will be blockchain technology and artificial intelligence. All this change is awe-inspiring and unprecedented.

Korea Blockchain Association and our members – which include Korea’s top blockchain companies – are meeting head-on the challenges and opportunities brought on by the advent of the Fourth Industrial Revolution.

Since the emergence of the Internet and information technology, it did not take long for Amazon, Google and Facebook to change the magnitude and infrastructure of the tech industry in the Third Industrial Revolution. Now, new markets for blockchain technology and digital assets are developing at an impressive rate. We have regulatory issues and hurdles to overcome – particularly for digital assets.

Nevertheless, businesses, governments, and civil societies will continue to work together to successfully resolve the issues. In this digital age, blockchain and digital assets will bring about innovation and positive transformation to the global economy, governments, and civil society. Once blockchain and digital assets are successfully developed, many new opportunities will open up for nations and their citizens.

Companies like JP Morgan and Facebook and other leading companies are introducing stable digital currencies. Blockchain technology will bring about innovative change not only in financial services but also in broad areas of economic transactions and activities. These innovations will help consumers more easily access products and services, as well as increase consumer benefits.

The World Economic Forum predicts that by the year 2025, ten percent of global GDP will be stored in blockchain technology. And the United Nations has designated blockchain as one of the world’s most sustainable state-of-the-art, cutting-edge technologies.

The proliferation of blockchain technology will dramatically change the business landscapes in the service industry, distribution, marketing, international trade, and health care and medicine, as well as in our social lives as well. Transformations will not only be seen in economies and commerce but also in our societies’ cultures. Blockchain in the future will impact governments and communities. Through all this change and transformation, many new jobs can be created.

Furthermore, one of the biggest and most powerful impacts that blockchain can have is the ability to broaden people’s opportunity to take part in investments and financial and economic activities – all of which contribute to the achievement of inclusive finance and an inclusive economy.

Korea Blockchain Association is committed to catalyzing the successful growth and development of Korea’s blockchain industry.
We have a vision and a hope of a future where Korea’s citizens, businesses and industries, government, and civil society will openly collaborate and create a successful stakeholder economy and society.

We will strive to expand new opportunities – and hence harness the economic growth potential of our nation for a prosperous future.

Thank you.

Kap Soo Oh Chairman Korea Blockchain Association