Jeju Island, South Korea’s most well-known vacationer vacation spot, is embracing blockchain know-how to remodel its tourism sector.
Beginning within the second half of 2025, the self-governing province plans to roll out NFT-based digital customer playing cards, providing reductions, journey subsidies, and particular membership perks at well-liked sights.
NFT Customer Playing cards
Experiences from native shops point out that the initiative targets Millennials and Technology Z vacationers in a bid to spice up the island’s tourism business by offering a tech-driven expertise.
The NFT playing cards will leverage blockchain know-how to retailer customer information, resembling journey historical past, images, and movies, on a safe and tamper-proof platform. Whereas particulars concerning the blockchain platform and card pricing are usually not but accessible, a trial section will precede the total rollout to check this system’s viability.
This initiative builds on Jeju Island’s historical past of exploring blockchain know-how. As an example, again in 2019, the island launched a government-backed analysis venture to place itself as a worldwide blockchain hub. Subsequent initiatives included a COVID-19 contact tracing app in 2021 and an vitality utilization monitoring platform in 2022, each powered by blockchain.
South Korea’s Internet 3 Focus
The transfer additionally aligns with South Korea’s broader concentrate on Internet 3 and digital innovation. South Korea first began exploring NFTs in 2021 to look at the combination of this sector into its tax system. The next 12 months, NFTs have been used to lift funds for presidential campaigns in Seoul.
Extra just lately, the nation’s monetary watchdog, the Monetary Companies Fee (FSC), issued tips on NFTs whereby it outlined instances through which these tokens ought to be thought of crypto belongings.
As well as, South Korea has dedicated important sources to the metaverse. It had beforehand introduced plans to speculate greater than $187 million to foster job creation and technological progress.
Final month, South Korea’s buying and selling quantity noticed an enormous spike amid political pressure. In consequence, the nation skilled a dramatic surge in crypto adoption. By the tip of 2024, the nation’s crypto consumer base had exceeded 15.5 million.
Binance Free $600 (CryptoPotato Unique): Use this hyperlink to register a brand new account and obtain $600 unique welcome supply on Binance (full particulars).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this hyperlink to register and open a $500 FREE place on any coin!