PANews reported on December 5 that according to the 'Daily Economic News', Jeju Special Self-Governing Province in South Korea has announced its "Jeju AI and Digital Transformation Roadmap", aiming to transform the island into a cashless international city through digital innovation. The plan includes establishing a convenient digital payment system that is compatible with the payment methods of neighboring countries such as China and Japan. In addition, Jeju Island also plans to introduce a system that can convert virtual assets such as Bitcoin into the local currency of the Jeju region for local transactions.
South Korea's Jeju Island plans to build a cashless city and adopt cryptocurrencies such as Bitcoin for payment
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