Binance, the world's largest crypto platform with blockchain expertise, successfully announced the signing of a Memorandum of Understanding (MoU) with the City of Busan in South Korea.
As part of the agreement, Busan will receive technology and infrastructure support from Binance in developing the city's blockchain ecosystem and promoting the Busan Digital Asset Exchange.
In fact, another form of cooperation between the two parties is order book sharing, which is an order book that lists the number of shares to be bid.
As such, Binance plans to develop and strengthen Busan's blockchain sector in several ways:
Using the Busan blockchain regulatory free zone in promoting blockchain initiatives and businesses.
Supporting blockchain-related research and investment in cities.
Provides specialized blockchain education and online resources from Binance Academy.
Advancing initiatives that promote community well-being through Binance Charity.
Help organize Blockchain Week in Busan in 2022 (BWB 2022).
Meanwhile, Binance expressed its intention to go to Busan by the end of this year to help develop the city in making it one of the most active digital hubs in East Asia.
According to Changpeng Zhao (CZ), CEO and Founder of Binance, he is excited to unite with Busan to develop a real blockchain including supporting the city's innovation efforts.
He added that Binance hopes that its expertise in blockchain and crypto technology will be able to improve the living standards of Busan citizens at home and abroad.
In the meantime, Heong-Joon Park, the mayor of Busan said the agreement gave him a great opportunity to create an Asset Exchange and make Busan a blockchain-specific city that attracts the attention of the whole world including improving the local economy and making it a global digital financial hub.
