While the value of blockchain often lies in its potential rather than its real-time use, South Korea has gradually emerged as a global leader in real-world blockchain applications.

In August, the government announced its plans to invest nearly $4.5 billion USD towards the development of blockchain, AI, and other emerging technologies. The Ministry of Science and ICT also announced plans to invest an additional $9 million USD to kick start pilot blockchain projects in the public sector.

On today's tech podcast, I invited Jake Choi from the Fantom Foundation to find out more about how the industry is thriving in South Korea. We also talk about how the Fantom Foundation is the world’s first DAG-based smart contract platform.

With his extensive knowledge of disruptive technologies and the overall market in mind, I learn more about how South Korea is helping bring blockchain closer to the mainstream.

Our conversation also covers the following:

• What systematic problems have contributed to the rise of blockchain technology, and how it both mirrors and differs from that of the Internet and mobile technology.
• The strongest use cases for blockchain in today’s market, and how addressing scalability, interoperability, and complexity concerns can expand the technology’s practical applications.
• The advantages and disadvantages behind companies starting out with localized adoptions of blockchain and research projects before going global.