North Korea Set to Hold Another Cryptocurrency and Blockchain Conference

North Korea Set to Hold Another Cryptocurrency and Blockchain Conference

North Korea has unveiled its plans to hold a cryptocurrency and blockchain conference. This news is being seen by experts as a way for the country to showcase some of its advancement in technology and its support for the blockchain.

The country announced that it had already started planning to host some of the most prominent experts in blockchain technology and cryptocurrency operations from all over the world. These experts will be expected at the Pyongyang Blockchain Conference, which is expected to run for a week. Apart from listening to knowledge from the doyens in the crypto industry, delegates and guests of the conference will also “be treated to a tour of the country.”

“Experts in the Blockchain and crypto industry will gather for the first time in Pyongyang to share their knowledge and vision, establish a connection and discuss business opportunities,” a promotional website for the event said.

It is noteworthy to point out that this conference will not be open to any delegates from Israel, Japan, and South Korea. This ban does not extend to Americans, however.

Furthermore, those who will not be given a pass to the event are “journalists as well as any mass propaganda or printed/digital material that is against the dignity of the Republic.”
North Korea’s continued interest in blockchain technology and digital currencies has been thoroughly documented in recent times. Last year, AlienVault, a cybersecurity company, discovered “a software that mines Monero, which sends the crypto to a server at Kim II Sung University in Pyongyang.” The Andariel group, a hacking unit from the country, was also alleged to be “behind a crypto-jacking attack on a South Korean company.”

There are speculations that the country has been trying to escape the United States-imposed sanctions through its use of digital currencies. According to AlienVault, “Cryptocurrencies may provide a financial lifeline to a country hit hard by sanctions, and as a result, universities in Pyongyang have shown a clear interest in cryptocurrencies.”

In conclusion

North Korea is gearing up to hold a cryptocurrency and blockchain conference in Pyongyang. The conference is expected to have foremost experts in the blockchain and cryptocurrency industry in attendance. While it is open to Americans, delegates from Japan, Israel, and South Korea have been banned from attending. This conference will be coming on the heels of a similar one that was held in August.

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