North Korea has always liked showing off its technological advancements. Now, at a rather strange time, the country is showing support for Blockchain technology. The country has announced its plans to host a North Korea Blockchain and Crypto conference, much like the one which was hosted earlier in August. North Korea already shared the announcement that preparations are undergoing.
The country aims to host some of the most renown Crypto operations and Blockchain Technology experts from all over the world. The experts will share knowledge and address issues, which the technology currently faces in the Pyongyang North Korea Blockchain Conference. With the conference lasting an entire week, guests will also be allowed to tour the country.
North Korea Blockchain Conference aims to spread the word
The promotional website for the event says blockchain and cryptocurrency experts will gather for the first time in Pyongyang to share their vision and knowledge. The goal is to establish new connections and discuss possible future business opportunities for projects or a North Korea Blockchain.
Despite predictions, American citizens are welcomed to attend the conference. Israel, South Korea and Japan are strictly banned from any form of attendance. Journalists and any form of mass media, which produces materials which harm the dignity of the Republic will also be banned.
North Korea’s growing interest in decentralized currencies and blockchain tech has been apparent in the past months. Last year, the cybersecurity company Alienvault came upon a software, which was mining Monero and send all the digital currency to a server in a North Korean university in Pyongyang. Additionally, there were multiple reports of North Korean hacker groups being behind attacks on South Korean companies.
Experts believe that North Korea is heavily investigating the opportunity to use cryptocurrencies to evade the imposed sanctions from the United States. North Korea is not the first country looking to evade sanctions via digital currencies. Russia, Iran and Venezuela are currently exploring or trying the possibilities of digital currencies and blockchain technology.