The domestic virtual asset (cryptocurrency) conference “Blockchain Week in Busan 2022” opened on the 27th. Despite the continued “crypto winter” caused by interest rate hikes and geopolitical crises, major global companies and a number of government officials attended to strengthen their willingness to innovate the blockchain industry.

At the scene, corporate officials such as Dubai Multi-Commodities Centre (DMCC), Binance, Cryptocom, and Huobi Global, who recently signed a partnership with Busan, Busan Mayor Park Hyung-joon and Kim So-young, vice chairman of the Financial Services Commission, appeared.


Busan “Leading Blockchain Innovation“…Financial Services Commission “Building Active Regulations”
Busan Mayor Park Hyung-joon is giving a keynote speech at the BWB 2022 held at BEXCO in Busan on the 27th. / Photo = Lee Young-min, reporter of Blooming Beat
Busan Mayor Park Hyung-joon is giving a keynote speech at the BWB 2022 held at BEXCO in Busan on the 27th. / Photo = Lee Young-min, reporter of Blooming Beat
Busan Mayor Park Hyung-joon, who organized the event, said, “We have prepared BWB 2022 as the largest in the country to make it a good opportunity to show the face of Busan, the leading city of blockchain,” adding, “We need to lead blockchain technology innovation to lead the market.”




The Busan Metropolitan Government plans to promote cooperation with global leaders to promote the blockchain industry. Mayor Park explained, “We will create more jobs and develop Busan into a blockchain hub through cooperation with global leaders such as DMCC, Crypto Dotcom, and Binance.”

Kim So-young, vice chairman of the Financial Services Commission, promised to spare no support for industries, including regulations. Vice Chairman Kim said, “Busan is taking on a new challenge to incorporate blockchain into finance. Success stories are important for the blockchain industry to continue,” he said

“I hope that this event will allow domestic and foreign experts to gather their wisdom and contribute greatly to the development of blockchain technology and industry,” he said.

“The government is trying to introduce regulations throughout the financial business. As fintech companies and traditional finance collaborate, there are positive effects, and policy efforts will continue to foster businesses related to the development of blockchain technology, he said

Legislative discussions are also active, with 14 bills pending. We will actively participate in the discussions and do our best to establish a disciplinary system for investors, he added.



There was also a common opinion that education should be accompanied by the continuous growth of the blockchain industry.

Changfeng Zhao, CEO of Binance (CZ), who attended BWB 2022 through the video, stressed that education is not only a factor that can make the industry grow but also investors not to be harmed.

“We provide more than 800 contents, including contributions and videos, in 21 languages through the Binance Academy,” he said. “In the case of the Binance Master Class, about 600,000 people have completed the course.”

CEO Zhao said, “Education is important to teach how to use blockchain.

In order to protect consumers, there must be education, he said. “Existing companies, organizations, and economic participants can also protect consumers by learning about blockchain technology and slowly understanding the power of technology.”