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KISTEP News
Title The 69th KISTEP Wednesday Forum: Blockchain Technology and Digital Currency
Writer Minjae Kim Date 2017-07-29 Hit 124
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 As blockchain technology was selected as one of 10 emerging technologies that will change the world at World Economic Forum in 2016, many countries are paying attention to blockchain technology as a part of national policy. The 69th KISTEP Wednesday Forum was held on July 26 with the theme of “Blockchain Technology and Digital Currency.” The forum began with a presentation by Youngwhan Lee (Professor, Cha Business School). Hyoung Joong Kim (Professor, Korea University), Myung Hwan Rim (Principal Researcher, Electronics and Telecommunications Research Institute (ETRI)), and So Yeong Park (CEO, Paygate) participated in the following panel discussion.

   
 
 Professor Youngwhan Lee (Cha Business School) stated, “Blockchain technology, which will totally change our society, is a infrastructure that can provide credibility to everything. Credibility is the most remarkable characteristic and strength of blockchain technology.” He continued, “ However, blockchain technology has great risks. The biggest problem is that it can be the target of hacking and crime.” He emphasized, “Academic research and appropriate education have to be preceded to prevent the reckless investments.”

   
 
 Professor Hyoung Joong Kim (Korea university) mentioned. “It is dangerous to consider blcokchain technology as a panacea without objective analysis. Although there are some promising fields for blockchain technology application, there are also inherent problems to solve, such as diffusion of responsibility and uncertainty of data. To utilize blockchain technology effectively, we should find and support promising fields for blockchain technology application.”

   

 Myung Hwan Rim (ETRI) stated, “Blockchain technology, which is currently being spread at an rapid rate, is being extensively applied to cryptocurrency, public security and industry fields. Combining the blockchain technology with other ICT technologies will be helpful to solve the current technological problems of the blockchain and to be more developed.” He emphasized, “Blockchain technology holds the key to build trust in society in the era of the 4th industrial revolution.”
 
   

 
 So yeong Park (Paygate) mentioned, “Definition of digital currency has to be more clarified. If there is no clarified standard for digital currency, it will damage to consumers and companies. The government should make rapid decision and responses to blockchain technology and digital currency.” She added, “Blockchain technology is important, but consideration of alternative technology is also needed.”
 

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