South Korea has been one of the leading cryptocurrency countries in the world in terms of crypto-friendly regulations and innovations. Various groups, companies, and organizations have consistently pushed the envelope and innovated in the crypto space, and the average person’s interest and involvement in crypto are higher than many other leading nations.
Two universities in South Korea have partnered to develop an entire blockchain campus that would have its native cryptocurrency.
Two universities partner to launch blockchain campus
In a report by local media outlet Business Korea, two local universities will work together to build a blockchain campus that would also have its own cryptocurrency. According to the report, Pohang University of Science and Technology (POSTECH) and Yonsei University are currently working on plans to launch their very own Blockchain Campus in the second half of this year.
The two institutions of learning aim to establish a blockchain-based system that would help them secure excellent research capacity in the area of blockchain tech. The project would also see the opening of a research center, the development of new curricula, and collaboration on entrepreneurial programs. The student-centered project is designed to boost the everyday use of cryptocurrencies.
POSTECH will play a leading role in the partnership with the development of a blockchain-based group intelligence knowledge sharing system called Engram. The university will also create a voting survey system referred to as Voting, which will be used by students for activities.
The institutions believe that the activities to be carried out using blockchain cannot be falsified or tampered with. Engram, meanwhile, is a blockchain system designed to enable students to share their knowledge. Students that share excellent educational contents will be rewarded with the native cryptocurrency called Neuron, which can be used for purchases at the school cafeteria.
POSTECH president Kim Doh-Yeon told Business Korea that blockchain technology has both an innovative as well as a destructive power that can change the way a sector works and functions – either for better or worse. He added that it is essential that the two institutions work together to design the future of blockchain tech and develop educational research foundations that future talent can use to explore the technology.
More details are expected to emerge over the coming weeks as the two institutions work on plans to build the Blockchain Campus and outline the various activities that would be carried out therein.
Yonsei already a player in the blockchain space
In November last year, Yonsei University partnered with Tezos Foundation, the company behind the Tezos blockchain project. The agreement between the two parties has helped provide blockchain education and training of smart contract experts in the local market.
According to that press release, the partnership between Tezos and Yonsei was been based on human resources and education in the blockchain technology industry. Thanks to the agreement, the two bodies have been able to strengthen their expertise in the blockchain sector and will continue to discuss the various ways they can collaborate and explore opportunities present in the industry.
The development of a blockchain campus would be a boost to the cryptocurrency industry. While the blockchain and crypto sectors have been focused on other areas such as finance, supply chain, and others, it is vital that the next generation of talent learns about the technology and how best to leverage and advance it.
A number of crypto companies such as Binance are already working on creating more awareness of cryptocurrencies. In December 2018, Binance Academy, the educational arm of the crypto exchange, released over 450 blockchain and cryptocurrency articles and videos. The educational materials were made available in 15 popular languages, with the aim of making it easy for people all over the world to understand what blockchain and cryptocurrencies are all about.
There is a need to create more awareness about cryptocurrencies and blockchain as that would go a long way in encouraging more people to venture into this emerging market.