Science ministry plans broader role for ABLE blockchain forum

The science ministry said Thursday it will expand its ABLE blockchain forum into a platform linking companies with market demand, pilot projects, investment and overseas expansion as AI agents and digital assets broaden blockchain's potential uses.

The proposal was discussed at a regular seminar with the Korea Internet & Security Agency (KISA) that gathered firms to assess demand emerging from AI and digital assets.

Speakers shared DSRV Labs' case studies from overseas government projects and examined financial-sector technology demand, blockchain's role in AI-agent-based transactions and payments, and market trends and technology demand in the United States, Japan and Vietnam.

The program paired blockchain companies with potential users in finance and construction and with investors for one-on-one discussions. Advisers provided consultations on legal, regulatory and management issues.

Since ABLE's July 2023 launch, its membership has grown by 34 companies. Its seven regular meetings have produced 225 one-on-one business matches and 65 consultations, while links to investors and company investor-relations presentations have led to investment, the ministry said.

At an advisory council meeting held alongside the seminar, advisers proposed reorganizing ABLE around four areas: finance and digital assets, industry and non-finance, AI and blockchain convergence, and overseas expansion. They also proposed expanding partnerships with overseas governments, international organizations and local innovation institutions, as well as tailored advice on technology, legal systems, investment and overseas expansion.

On Aug. 14, an IR Demo Day will give blockchain small and medium-sized companies and startups a chance to pitch domestic professional investors and hold one-on-one investment consultations and networking meetings.

"As AI agents and digital assets become more widespread, blockchain's role in verifying data provenance, authority and transaction histories that need to be trusted will become more important," Lee Do-gyu, the science ministry's information and communications policy director, said.