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North Korea wants to join the world of cryptocurrency

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According to a report published by the South Korean State Development Bank of Korea (KDB), which finances and manages large industrial facilities in the south of the country, Pyongyang has begun to search for blockchain and plans to create its own exchange platform.

KDB said that Chosun Expo, a North Korean IT company, received government permission to develop a site for exchange. According to the report, Pyongyang is interested in research on technology blockchain, as cryptocurrencies can be “anonymous, hard-to-trace and easily convertible into cash.”

A number of South Korean media said that the North Korean government was also trying to create a center for the mining of cryptocurrency but without success.

Nevertheless, the report states that North Korean citizens are not particularly dedicated to matters relating to digital money, referring to an interview with a defector from North Korea, who said that issues related to the cryptocurrency not being discussed in his home country.

Meanwhile, Pyongyang intends to hold the first conference in the country’s history in October this year, and “international experts” will hold talks within two days. The event will be called the Korean International Blockchain Conference.

Christopher Emmes, the general manager of Maltese blockchain company TokenKey and adviser to Shanghai SkyCoin, was confirmed as a speaker and recently stated in his LinkedIn profile that “a complete list of speakers should already be approved.”

Any interested person can become a participant of the conference, and you can do this by buying a tourist tour, which, in addition to the pass to the event itself, includes an examination of North Korean attractions. However, for a resident of South Korea, Japan, and Israel, entry into the territory of the state is still closed.

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