|Title||Sogang University-KOFIA-KFME Sign MOU: Supporting Establishment of a Digital Square for Micro-enterprises, Based on Blockchain Technology|
Sogang University-KOFIA-KFME Sign MOU
- Supporting Establishment of a Digital Square for Micro-enterprises,
Based on Blockchain Technology -
▲ (From left) KOFIA chairman Kwon Yong Won, Sogang University President Park Jong Gou, KFME president Choi Seung Jae
On Monday, August 13, Smart Fin-tech Research Center of Sogang University, the Korea Finance Investment Association (KOFIA), and the Korea Federation of Micro Enterprise (KFME) signed a tripartite MOU on establishing a digital square for micro-enterprises.
The digital square for micro-enterprises is a platform that provides a trade marketplace, smart contracts, financial services, policy subsidiary support services, and communication tools to enhance the independent competitiveness of the micro-enterprises. Micro business owners are expected to strengthen their own competitiveness through this platform, thanks to the vitalization of B2B trade and the enhancement of comfortable financial services based on ICT and fin-tech, such as e-marketplaces and smart contracts. The platform will serve as a collaboration channel and an arena for digital business.
Smart Fin-tech Research Center of Sogang University will be responsible for the management and overall development and implementation of the digital square project, and will set up the concrete direction for its implementation. The Finance Investment Association will share its insight for the financial services and will cooperate on the establishment of smart contract system, while providing the blockchain “Chain-ID,” developed by a blockchain consortium of the industry.
Sogang University President Park Jong Gou said, “Through the digital square for micro-enterprises, a product of the academy-industry cooperation of the Smart Fin-tech Research Center, the KOFIA, and the KFME, the excellent researchers and their knowledge of Sogang will contribute to society.”
The KFME president Choi Seung Jae said, “The MOU will serve as an opportunity to establish an innovative network for micro-enterprises to respond effectively to the 4th Industrial Revolution.” Choi added, “The implementation will be the steppingstone for the vitalization of various academy-industry cooperation efforts for micro businesses.”
The KOFIA chairman Kwon Yong Won said, “We are much honored to participate in this joint collaboration project of the financial industry, the university, and micro enterprises for enhancing the competitiveness of 6.8 million micro enterprises nationwide. We will do our best to successfully implement the digital square for micro enterprises.”