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Two South Korean universities will develop a blockchain with their own cryptocurrency

Yonsei University, which already has an active blockchain community, will collaborate with the University of Science and Technology Pohang (Postech) to implement the initiative, which is scheduled to begin in the second half of 2019.

A specialized research center, an entrepreneurial program and other plans are already under development, while the student-oriented project aims to increase the daily use of cryptocurrency.

Postech is developing a blockchain-based knowledge sharing system called Engram, which will include a reward system using custom-made altcoin called Neuron. According to Business Korea, neuron tokens can be exchanged for goods in the canteen of the university.

In addition, there will be a voting system using a block chain with the technology used to prevent falsification of results.

"The technology of Blockchain has an innovative and destructive ability to create a new conceptual industry," quotes Business Pos with reference to Postech president Kim Doeon.

President added:

"It is very important that POSTECH and Yonsei University jointly develop the future of core technologies and create educational and research bases for future talent to prepare for this technology."

Training in areas such as smart contracts was a major stimulus for decision making.

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