A recent report by the Busan Research Institute has revealed a strange trend: 62% of companies in Busan with South Korea’s blockchain sand appear to be unaware of the technology.

Since last year, Busan has been considered a “free-of-regulation” blockchain development area by the federal government of South Korea. The city has completed several blockchain projects, including plans for a blockchain-based virtual power plant and even its own municipal cryptocurrency.

This makes the stunning results of the Busan Blockchain Free Activation Report, published by local media outlet Fn News, all the more surprising.

Exactly 91% of the 100 companies surveyed from various industries said they do not plan to use blockchain technology.

In a separate survey of 26 blockchain-related companies, 23% complained about the regulatory hurdles they had recently encountered.

In addition, 19% of blockchain companies said they feel lonely when it comes to development and blame the lack of government support for adopting blockchain, while 15.4% expressed concern about the lack of technology and human resources for technology development. …

Looking ahead, the report offers some advice for the government to improve support for blockchain companies in the city:

When it comes to the market, it is essential to attract and merge the various related companies. Marketing support is needed to find the most demanding companies, develop talent and technology. ”

He also stated that current blockchain applications are mostly limited to service sectors and suggested using the technology in the city’s manufacturing and industrial sectors.

Source: CoinTelegraph