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Universities in South Korea Join Hands to Develop Blockchain Campus With In-House Crypto

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According to a report by Business Korea (local English language daily news outlet) dated April 3, Two South Korean universities are looking to develop a complete blockchain campus along with its own cryptocurrency. As per reports, the two universities collaborating are Yonsei University (with already existing blockchain community) and Pohang University of Science and Technology (Postech). The two universities plan to launch the initiative in the second half of 2019.

At present, an enthusiastic research center, entrepreneurial program outreach, and a few other plans are already in the pipeline. Moreover, the primary objective of the student-centered project is to increase crypto usage in day to day basis.  According to reports by Business Korea, Postech is in the process of developing a blockchain based knowledge sharing system dubbed Engram, which will permanently showcase a reward system with the use of Neuron (bespoke altcoin). This token will be eligible for exchange in return for goods in the universities cafeteria.

Furthermore, a voting system based on blockchain technology will also float which will necessarily make sure that no deception of results occurs. Business Korea quoted Postech president Kin Doh-Yeon “Blockchain technology has innovative and destructive power to create a new concept industry.”

The president of Postech went on to say that “It is meaningful that POSTECH and Yonsei University jointly design the future of core technology and establish educational and research foundations for future talent to prepare for the technology.” However, it is not the first partnership that Yonsei has had. Late in the year 2018, the university signed a Memorandum of Understanding with the local branch of the Tezos Foundation. Also, as reported previously, training in spaces such as smart contracts formed the primary catalyst behind the decision.

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