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 standard sights.
NFT Customer Playing cards
Experiences from native retailers point out that the initiative targets Millennials and Era 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, reminiscent of journey historical past, pictures, and movies, on a safe and tamper-proof platform. Whereas particulars in regards to the blockchain platform and card pricing are usually not but accessible, a trial section will precede the complete rollout to check this system’s viability.
This initiative builds on Jeju Island’s historical past of exploring blockchain know-how. For 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 power utilization monitoring platform in 2022, each powered by blockchain.
South Korea’s Internet 3 Focus
The transfer additionally aligns with South Korea’s broader deal with Internet 3 and digital innovation. South Korea first began exploring NFTs in 2021 to look at the mixing of this sector into its tax system. The next yr, NFTs had been used to lift funds for presidential campaigns in Seoul.
Extra just lately, the nation’s monetary watchdog, the Monetary Providers Fee (FSC), issued tips on NFTs whereby it outlined circumstances by which these tokens must be thought of crypto property.
As well as, South Korea has dedicated important sources to the metaverse. It had beforehand introduced plans to take a position greater than $187 million to foster job creation and technological progress.
Final month, South Korea’s buying and selling quantity noticed a large spike amid political stress. Consequently, the nation skilled a dramatic surge in crypto adoption. By the tip of 2024, the nation’s crypto person base had exceeded 15.5 million.
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