Bank of Korea Launches a Department Devoted to Blockchain and AI

Bank of Korea is launching a digital innovation department that will leverage blockchain and AI to improve business efficiency.

The Bank of Korea has reportedly chosen to establish a “Digital Innovation department” through organizational reform in the second half of this year, according to the local news on July 22.

Leveraging innovative technologies for efficiency

The Bank plans to introduce a number of different technologies, such as artificial intelligence and blockchain, through the digital innovation department.

The department will perform tasks such as implementing new digital technology policies and expanding the latest digital infrastructure. An official from Bank of Korea commented that:

“We will improve work efficiency by applying minutes from meeting minutes to financial and economic indicator trends and foreign exchange audits with the technology introduced.”

As Cointelegraph reported previously, the Bank of Korea was looking to use blockchain for bond market technology. This would allow the distribution of bond records among all participants. Korean ministries previously announced that they will allocate up to $3.2 million in funding to encourage blockchain innovation in the country.

 

Join Geezgo for free. Use Geezgo’s end-to-end encrypted Chat with your Closenets (friends, relatives, colleague etc) in personalized ways.>>
Did you enjoy this post? Please comment below:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Zcash
Scan to Donate Bitcoin to bc1qcc3xajxvdqjnx2f7j7sfcfun7jagr0nh94fa2e

Donate Bitcoin to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0x704671D7591d05Dd0790E86Aee964558E9347b07

Donate Ethereum to this address

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Litecoin to ltc1q7tj9ydra9ylkelu42vypp6cu2v0msf5lc2p5mq

Donate Litecoin to this address

Scan the QR code or copy the address below into your wallet to send some Litecoin

Scan to Donate Zcash to t1LiPaQ7gsSL23FbjXswpSoguP6yAE1xj5B

Donate Zcash to this address

Scan the QR code or copy the address below into your wallet to send some Zcash

 212 

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *