Business Korea reported that South Korea’s Pohang University of Science and Technology (POSTECH) and Yonsei University, have been making moves towards the adoption of blockchain technology, with their plan to operate a university campus that will fully utilize the technology.

The two institutes have announced that they will offer curriculums on blockchain technology and applications, as well as promote more research in the field with a dedicated research center. Moreover, the universities will work towards fostering a blockchain ecosystem, with an emphasis on connecting university students and staff with companies in the blockchain industry.

POSTECH added that it is set to operate a blockchain-powered intelligence sharing system called Engram, as well as a voting survey system at the new campus. Engram incentivizes students to share knowledge by rewarding highly ranked content with a cryptocurrency called Neuron. Neuron can be redeemed at the university’s cafeterias. The voting system meanwhile will be used to conduct surveys among students with an immutable blockchain-based platform, which cannot retroactively be altered.

The schools also announced future plans to implement a blockchain platform to track data, including student cards, certificate issuance, and donation management.

POSTECH President Kim Doh-yeon said that POSTECH and Yonsei University are carrying out meaningful work by jointly designing the future of “core technology” and establishing educational and research foundations for future talent to prepare for the technology.

Though cryptocurrency and blockchain are becoming more commonly used in South Korea, the industry is still unregulated, as financial institutes and regulators have not yet accepted cryptocurrencies as valid forms of payment.

Source: www.businesskorea.co.kr

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