The mayor of the capital of South Korea Pak Wonsan presented a five-year development plan associated with bloccano industries, which also provides for the establishment of business parks and Fund-raising startups. This was reported by Yonhap.

“There is no doubt that the blockchain is the key technology for the fourth industrial revolution which is shaping the IT industry of the future. I will endeavor to help Seoul become the center of the blockchain ecosystem,” — said Zug during a speech in Zug, which is also commonly known as “Cryptocoryne”.

According to him, until 2021, the city government will allocate a 60.3 billion won ($53 million) for the construction of two business parks in the Western and South-Eastern areas, where there may be 200 blockchain-companies. There will be open two education center, which within five years will prepare 730 blockchain.

In addition, the city authorities plan to create a public-private Fund with assets of 100 billion won, which will specialize in investments in blockchain startups. In this 13.6 billion won, the city authorities will allocate from its own funds.

The Seoul Metropolitan government also intend to introduce the technology of a distributed registry in such areas as voting, managing charity, the registry of motor vehicles, etc.

ForkLog previously reported about the plans of the authorities of Seoul, for the creation of a cryptocurrency S-Coin that will be used in city programs of social benefits.