A crypto hub: an answer to Busan aging population dilemma?

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Quote from: AbuBhakar on February 16, 2023, 09:51:16 AM

Quote from: Wong Gendheng on February 16, 2023, 08:59:48 AM

Many governments are still hesitant to totally in the crypto industry, maybe because many cases of fraud and the latest FTX and Luna who made the founders of FTX and Luna go to prison, maybe it took a few more years to be able to see which city or country the most serious to become a crypto hub.

Some country have no plan to legalize crypto or be a center though we already see some advance countries who are open in doing this like Singapore. The recent news of scam projects fears many to enter again in crypto or buy altcoins but not in terms of bitcoin, proper promotion and implementation can help to spread the news and attract people. In terms of Busan dilemma of having more senior citizens than young teenagers in their areas they might need also other activities not just being a crypto hub or provide more jobs to attract their people, having it a crypto hub can be one but they will need a lot more to offer like what Seoul can do.

There is a well-developed concept of CryptoCitadel - a robotic city of the future in which Bitcoin users will live.

South Korean Busan can also follow this path of development.

South Korea can sell the citizenship of its country for bitcoins. At the same time, a new resident is provided with an apartment in Busan, as well as preferential taxation for income taxation. This will attract young businessmen from other countries to Busan.

South Korean youth can also be provided with similar benefits and preferences.

AbuBhakar

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Quote from: Wong Gendheng on February 16, 2023, 08:59:48 AM

Many governments are still hesitant to totally in the crypto industry, maybe because many cases of fraud and the latest FTX and Luna who made the founders of FTX and Luna go to prison, maybe it took a few more years to be able to see which city or country the most serious to become a crypto hub.

Some country have no plan to legalize crypto or be a center though we already see some advance countries who are open in doing this like Singapore. The recent news of scam projects fears many to enter again in crypto or buy altcoins but not in terms of bitcoin, proper promotion and implementation can help to spread the news and attract people. In terms of Busan dilemma of having more senior citizens than young teenagers in their areas they might need also other activities not just being a crypto hub or provide more jobs to attract their people, having it a crypto hub can be one but they will need a lot more to offer like what Seoul can do.

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Quote from: Wong Gendheng on February 16, 2023, 08:59:48 AM

Many governments are still hesitant to totally in the crypto industry, maybe because many cases of fraud and the latest FTX and Luna who made the founders of FTX and Luna go to prison, maybe it took a few more years to be able to see which city or country the most serious to become a crypto hub.

The discussion here isn't about which country/city wants or doesn't want to be a crypto hub, and it also has nothing to do with crypto fraud or cases of loss of funds through crypto. Busan just like many other cities around the world are faced with a problem of aging population, and there is a proposition coming out that they want to develop their city into a crypto hub to attract the young populace and combat/curb the problem of aging populace (which i think can only be a temporary solution).

Having said that, it would be great if more users read the op of threads attentively so their contributions can be on point and the discussion would be wholesome. Well you can now tell us what you think about Busans proposal? Grin

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Many governments are still hesitant to totally in the crypto industry, maybe because many cases of fraud and the latest FTX and Luna who made the founders of FTX and Luna go to prison, maybe it took a few more years to be able to see which city or country the most serious to become a crypto hub.

Smartprofit

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It is known from history that many Asian countries have made huge strides in the economy and in improving the living standards of their citizens by focusing on modern trends in science and technology.

First of all, this concerns the production of microelectronics and robotics.

Currently, other important technological trends have emerged - cryptocurrencies, virtual reality and artificial intelligence. This is something that young people are very interested in.

Therefore, if the task is to turn Busan into a city with a predominantly young population, then the creation of a cryptocurrency center, in my opinion, is a completely logical management decision.

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Quote from: livingfree on February 15, 2023, 06:44:56 PM

Quote from: 19Nov16 on February 15, 2023, 08:40:53 AM

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Many cities want to become crypto hubs but most are not ready, and in my opinion the most prepared is Dubai, with the support of the united arab emirates government, dubai is now growing rapidly in many ways, it is only natural that many of the world's top companies make dubai the center, and the united emirates government arab has officially accepted many projects related to cryptocurrencies.

Without a doubt, Dubai is a good country and they're targeting to be really a hub. They're adaptable and with their diverse culture there, it's easy for these companies to be there.
But the thing is, these companies should expect that it ain't that cheap to operate there. It's like going in Singapore which is also a crypto hub.

Guys! This is not about becoming a crypto hub, this is about fixing a fertility and aging problem with a crypto hub
And neither of the two examples, Dubai and Singapore are the ones you should look at when it comes to those issues, cause:

UAE has one of the lowest fertility rates in the world, study finds
Singapore's total fertility rate falls to historic low in 2020

With UAE at a 1.39 and Singapore at 1.1 they are nearly in the same shape as South Korea, and even worse than Japan at 1.4.
I really don't understand how came up with the idea that your people that are attracted to technology and want to start a business and dedicate time to their careers are the ones that will start multiplying like rabbits when it's obviously the opposite.

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Quote from: 19Nov16 on February 15, 2023, 08:40:53 AM

Quote from: livingfree on February 14, 2023, 02:52:58 PM

Even if Busan wants to focus in crypto but if their national government is like the one who keeps on tracking down projects and privacy coins, maybe we'll still see some shed of light from it.

There will always be the obstacle that a city or a location have to be overcome because it's not that easy to become a crypto hub if there are conflicts from its own country.

Many cities want to become crypto hubs but most are not ready, and in my opinion the most prepared is Dubai, with the support of the united arab emirates government, dubai is now growing rapidly in many ways, it is only natural that many of the world's top companies make dubai the center, and the united emirates government arab has officially accepted many projects related to cryptocurrencies.

Without a doubt, Dubai is a good country and they're targeting to be really a hub. They're adaptable and with their diverse culture there, it's easy for these companies to be there.

But the thing is, these companies should expect that it ain't that cheap to operate there. It's like going in Singapore which is also a crypto hub.

Well, as for Busan which is in South Korea, they might have conflict with their national government's thought even if the locality of Busan and its leaders will enforce being a crypto hub.

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Quote from: hugeblack on February 15, 2023, 09:53:21 AM

South Korea is one of the countries that suffers from the problem of decreasing the number of births, and therefore the continuation of policies such as one child and others will make the proportion of the elderly exceed 20% in the next few years

South Korea never had a one-child policy on the same level as China, what they had was a campaign on having no more than two but which was not enforced at any level, it was promoted a lot but still, some had more than two children, it's nothing like China and the fall is far more linear, based more on economic and social development rather than penalties and government policies. From the link you've quoted:

Quote

In the 1960s, the South Korean government launched programmes to curb fertility, encouraging the use of contraceptives and promoting a two-child norm.

It was just encouraging and promoting, and even without it would simply have delayed the inevitable, every single country is moving towards that except for parts of Africa, but that will change also in less than a decade and probably the shock will be even worse.

This thing is unavoidable and I don't think any crypto hub or whatever will change this if it would have worked California would have managed to avoid a halving in fertility rate since the '90 with all those tech hubs, but it ain't working at all.

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South Korea is one of the countries that suffers from the problem of decreasing the number of births, and therefore the continuation of policies such as one child^[1] and others will make the proportion of the elderly exceed 20% in the next few years^[2]. I also remember a report that one of the cities does not have children playing in the garden, and therefore the solution to this problem is greater It's just a cryptocurrency alert.

I remember reading somewhere that they give pregnant women $600 a month, but I'm not sure about that.

[1] South Korea Triples Baby Payments to Tackle Low Fertility Rate
[2] Fewer and later births in South Korea

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Quote from: Cryptomultiplier on February 14, 2023, 05:26:43 PM

Anything that has to do with Korea in general has a ring of strictness tied to it. I have never been there but thank God for the power of media. The ageing population is their fault following their restrictions on child birth ratio.
The plan for crypto innovative adoption would help the masses if they intend to earn from either remote work or any service related to crypto which they do and moreso have enough jobs to offer foreigners who came for livelihood, trade, migration.
The AI initiative may pose a threat to take over most of the jobs humans do, thereby creating more unemployment and suffering. Although, it could be a leading effect on influx of students, professionals, tourists, who love everything about AI and want to either know more or invest in its advancement.
More crypto hubs are being developed around the world and statistically, countries who are open to crypto trade and have made it or in the process of making it a legal tender, is witnessing more tourism and investment.

Crypto adoption can help not only in terms of earning or for providing a career but it also helps act as a medium of exchange. With crypto, there is no need to use local fiats but they can just use it directly for paying or for purchasing. As for the AI, it will be better if they take things slowly in regards with it if they think it will affect us negatively.

I am not sure if it's true that there are now more crypto hubs when there is only a few that has been reported. I know the first crypto hub started on El Salvador but it can indeed attract tourists because this wasn't a common thing yet. Not all that goes with it are doing a business or wants to invest but they only want to experience to spend their cryptos directly on some services.

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Quote from: livingfree on February 14, 2023, 02:52:58 PM

Even if Busan wants to focus in crypto but if their national government is like the one who keeps on tracking down projects and privacy coins, maybe we'll still see some shed of light from it.

There will always be the obstacle that a city or a location have to be overcome because it's not that easy to become a crypto hub if there are conflicts from its own country.

Many cities want to become crypto hubs but most are not ready, and in my opinion the most prepared is Dubai, with the support of the united arab emirates government, dubai is now growing rapidly in many ways, it is only natural that many of the world's top companies make dubai the center, and the united emirates government arab has officially accepted many projects related to cryptocurrencies.

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Quote from: Coyster on February 15, 2023, 06:33:42 AM

A bit off topic, it was also interesting to find out through the documentary that the average Korean has a global/international and a Korean age, this made me do a little research and i found out that for the Korean age they add the time spent in the womb as a year once born, and they add one year to their age every new year, and not on their birthdays as normal.

I know about it, and if you think about it, it makes sense because we were all living beings even before we were born, although such calculation of age can cause confusion. From this year, however, that system will be standardized and their government will honor them with new documents that will make them 1 or 2 years younger.

I wonder if this will affect the fact that literally overnight some will lose the right to legally buy and consume alcohol and cigarettes or to have the right to vote in elections Roll Eyes

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Quote from: Lucius on February 15, 2023, 05:39:56 AM

You can watch the documentary on this link, and the Vice Major of Busan also participates in it (note that the video is from 3 years ago).

Thank you for sharing this documentary, i watched it and it was interesting and educative to say the least. Crypto is quite popular in South Korea (and is affecting the dominance of Chaebols), that is prolly why Busan are looking to crypto to solve their problem of aging population, i believe it could work because young South Koreans are interested in finding a way to a better life through crypto, thus they might consider moving to Busan if it presents them the opportunity to join or start crypto startups in order to achieve financial freedom. Though i don't think this would provide a long term solution if they rely on just this.

A bit off topic, it was also interesting to find out through the documentary that the average Korean has a global/international and a Korean age, this made me do a little research and i found out that for the Korean age they add the time spent in the womb as a year once born, and they add one year to their age every new year, and not on their birthdays as normal.

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Quote from: Synchronice on February 14, 2023, 02:55:36 PM

In what way did South Koreans think that cryptocurrencies are their only way out?

Maybe not everyone thinks like that, but I realized this after watching some documentaries that show all the challenges of a young man in that country on the way to independence and success in life. Cryptocurrencies are nothing but quick-rich schemes for most, and if you can achieve in a few months or maybe a few years what someone would have to work for for 30 or 40 years, then it is clear why some see it as their only way out. You can watch the documentary on this link, and the Vice Major of Busan also participates in it (note that the video is from 3 years ago).

Quote from: stompix on February 14, 2023, 01:27:04 PM

Both countries have a negative net migration rate (more people leaving than coming), so, how can you call this doing well?

Some politicians will even consider negative migration as a solution, not a problem, as is the case with the country where I live. In 10 years, we lost about 430 000 people, most of whom went to Germany, but this at the same time resulted in a drastic drop in unemployment, which is now compensated by importing cheap labor from Nepal, India, Pakistan and similar countries in numbers that are now about 120 000 work permits for foreign workers issued annually. My Prime Minister and the government say that these are positive trends and they are ready to work to deliver at least 300 000 new workers to the Western EU in the next 10 years.

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Quote from: Majestic-milf on February 14, 2023, 04:44:08 AM

Busan, South Korea's largest city with a population of over 3,472,000 people according to data gotten from here with people aged above 65yrs taking up 17.5% could have a negative impact on the economy. And data analysis shows that the number of aged citizens is expected to rise to 20.6 by 2025; Pushing the first major city into a super aged population.

The statistic of americans who can afford to purchase university level education for their children has declined significantly in recent years. As has the number of americans who can afford healthcare expenses for their kids. Recent issues with americans not being vaccinated could trend with many americans not being able to monetarily afford to have their children immunized.

It could be safe to say that people of the world are struggling with similar issues involving the cost of having kids being greater than they can afford.

If economic issues relating to inflation, higher cost of fuel, food and living expenses continue. Then, it will naturally become more difficult for people of japan, south korea, the united states and other nations to be able to afford to have children.

The majority of these attempts at economic analysis cite a "lack of will" as a prime mover for dwindling populations. But in reality, it could be the economic and financial burden which is serving as the major deterrent.

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Quote from: AmoreJaz on February 14, 2023, 04:09:25 PM

Quote from: livingfree on February 14, 2023, 02:52:58 PM

Even if Busan wants to focus in crypto but if their national government is like the one who keeps on tracking down projects and privacy coins, maybe we'll still see some shed of light from it.

There will always be the obstacle that a city or a location have to be overcome because it's not that easy to become a crypto hub if there are conflicts from its own country.

that is very right, it depends on how its people react on this kind of development. but definitely, there will be group of people or politicians who will be against with it. and sometimes this is a long process as the people who are in charge with this matter need also to have a full grasp of what they are getting into. otherwise, people will blame them if the outcome is not good for them.

There's no problem with their people but those that are in the government might really be the problem on this progress. We saw several news that they've been disliking and commanding exchanges to delist privacy coins.

Well, their citizens can't blame them as there's really nothing they can do with such progress if the national government dictates what they must do or sets some rules regarding the adoption of cryptocurrencies into their states or localities.

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Anything that has to do with Korea in general has a ring of strictness tied to it. I have never been there but thank God for the power of media. The ageing population is their fault following their restrictions on child birth ratio.
The plan for crypto innovative adoption would help the masses if they intend to earn from either remote work or any service related to crypto which they do and moreso have enough jobs to offer foreigners who came for livelihood, trade, migration.
The AI initiative may pose a threat to take over most of the jobs humans do, thereby creating more unemployment and suffering. Although, it could be a leading effect on influx of students, professionals, tourists, who love everything about AI and want to either know more or invest in its advancement.
More crypto hubs are being developed around the world and statistically, countries who are open to crypto trade and have made it or in the process of making it a legal tender, is witnessing more tourism and investment.

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Quote from: Lucius on February 14, 2023, 10:58:40 AM

I just hope they don't invite Mr. Kwon if he ever comes back from exile, because he's just bad for business.

Hehehehe. I don't think I'd ever render such an advice to anyone after his trademark fail of the Terra USD project. But you'd never know, desperation could push even the most forward thinking to do the unthinkable. Especially now they are in dire need of a solution to their problem, who knows, they could borrow some advice from him. Undecided

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Quote from: livingfree on February 14, 2023, 02:52:58 PM

Even if Busan wants to focus in crypto but if their national government is like the one who keeps on tracking down projects and privacy coins, maybe we'll still see some shed of light from it.

There will always be the obstacle that a city or a location have to be overcome because it's not that easy to become a crypto hub if there are conflicts from its own country.

that is very right, it depends on how its people react on this kind of development. but definitely, there will be group of people or politicians who will be against with it. and sometimes this is a long process as the people who are in charge with this matter need also to have a full grasp of what they are getting into. otherwise, people will blame them if the outcome is not good for them.

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Quote from: Majestic-milf on February 14, 2023, 04:44:08 AM

Known for its instability in price, as it's always prone to volatility, yet this feature won't stop South Korea's second largest metropolis from believing strongly on the power digital currencies hold to solving a major problem, which for them is the issue of their aging population.
Busan, South Korea's largest city with a population of over 3,472,000 people according to data gotten from here with people aged above 65yrs taking up 17.5% could have a negative impact on the economy. And data analysis shows that the number of aged citizens is expected to rise to 20.6 by 2025; Pushing the first major city into a super aged population.

Busan is seeking to become a crypto hub as this could be a means to entice young minds into the city, ensuring to put in place publicly run exchange for digital assets, luring Blockchain firms and also soliciting investments from venture capital companies.

It's very wrong when countries overprioritize capitals and ignore the rest of the cities and small towns. It will definitely be productive to make a crypto hub in another city to attract young people and make city stronger. Simultaneously, this hub shouldn't be locked inside the country, they should make international projects with English language as a default. But that's not the only solution. This fact just reminded me that Japan has aging population problem too. Asian countries make it hard for foreigners to settle in the country. Sometimes migration is a key to fight aging population too but I'm against migrating violent and unskilled people, they should simplify the process for good young people who are interested in their culture and would love to live and work in their country.

Quote from: Lucius on February 14, 2023, 10:58:40 AM

I remember a documentary about South Korea that showed that many young people in that country really see cryptocurrencies as their only way out

In what way did South Koreans think that cryptocurrencies are their only way out?

Topic: A crypto hub: an answer to Busan aging population dilemma? (Read 237 times)