Jeju Island in South Korea plans to build a cashless city and use cryptocurrencies such as Bitcoin for payment

According to the Daily Economic News, Jeju Special Self-Governing Province of South Korea announced its "Jeju AI and Digital Transformation Roadmap", aiming to build the island into a cashless international city through digital innovation. The plan includes establishing a convenient digital payment system that is compatible with payment methods from neighboring countries such as China and Japan. In addition, Jeju Island also plans to introduce a system to exchange virtual assets such as Bitcoin for Jeju regional currency for local transactions.