Jeju Island, South Korea’s most well-known vacationer vacation spot, is embracing blockchain expertise 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 widespread sights.
NFT Customer Playing cards
Experiences from native shops point out that the initiative targets Millennials and Era Z vacationers in a bid to spice up the island’s tourism trade by offering a tech-driven expertise.
The NFT playing cards will leverage blockchain expertise to retailer customer knowledge, similar to journey historical past, images, and movies, on a safe and tamper-proof platform. Whereas particulars concerning the blockchain platform and card pricing will not be but accessible, a trial section will precede the total rollout to check this system’s viability.
This initiative builds on Jeju Island’s historical past of exploring blockchain expertise. As an example, again in 2019, the island launched a government-backed analysis undertaking to place itself as a world blockchain hub. Subsequent tasks included a COVID-19 contact tracing app in 2021 and an vitality utilization monitoring platform in 2022, each powered by blockchain.
South Korea’s Net 3 Focus
The transfer additionally aligns with South Korea’s broader deal with Net 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 lately, the nation’s monetary watchdog, the Monetary Providers Fee (FSC), issued pointers on NFTs whereby it outlined circumstances by which these tokens needs to be thought of crypto belongings.
As well as, South Korea has dedicated important sources to the metaverse. It had beforehand introduced plans to speculate 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 pressure. In consequence, the nation skilled a dramatic surge in crypto adoption. By the tip of 2024, the nation’s crypto consumer base had exceeded 15.5 million.
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