18.01.202311:51 Forex Analysis & Reviews: South Korea is at the forefront of blockchain technology adoption and integration

South Korea continues to be at the forefront of blockchain technology adoption and integration as it launches a virtual replica of its capital, Seoul, which is the first phase of a project dubbed as Metaverse Seoul. The project is reportedly the world's first publicly available meta-universe platform supported by the city.

In a press release announcing the project, Metaverse Seoul is described as a three-part project that is expected to be completed in 2026. In the first phase, Metaverse Seoul will focus on improving the efficiency of public administration services and will allow citizens to use personal avatars to explore the platform and access various services such as citizenship confirmation, tax advice, mentoring for young people and a support center for stranded businesses.

The second phase, which is expected to be launched in 2024, will expand the services available, including real estate advice and connecting foreign investors with local businesses.

The third and last phase will focus on integrating virtual and augmented reality technologies to manage the city's infrastructure. There are also plans to introduce blockchain technology, including cryptocurrency.