NEAR Protocol

<p>The NEAR Foundation, the organization behind blockchain network NEAR Protocol, announced today <a href="https://www.hankyung.com/article/202309084113B" rel="noopener noreferrer nofollow">its memorandum of understanding</a> (MOU) agreement with Dongdaemun District of Seoul, the South Korean capital, to promote the Web3 industry.</p><h2 id="header-0">Mutual support and growth</h2><p>In this collaborative partnership, both parties aim to establish a framework that fosters mutual support, growth, and development. Their joint efforts will encompass initiatives such as streamlining administrative processes, introducing tax benefits, implementing talent incubation programs, and creating communication channels to ensure a seamless workflow.</p><h2 id="header-1">One-stop administrative hub</h2><p>Projects entering the NEAR ecosystem will have access to a convenient one-stop administrative hub responsible for regulatory approvals. They will also benefit from local tax exemptions for a specific period and receive a dedicated workspace for project operation and development. These supportive measures are anticipated to play a significant role in facilitating their entry into the Web3 sector.</p><p>NEAR Protocol stands out as a layer-1 blockchain that lowers the barriers to Web3 adoption. This is achieved through its FastAuth feature, which enables users to effortlessly create accounts for any website or application that integrates with the Blockchain Operating System (BOS). BOS is a solution that enables developers to build on any blockchain using familiar programming languages.</p><h2 id="header-2">Business and job opportunities</h2><p>Lee Pil-hyeong, Head of Dongdaemun District, expressed his enthusiasm for the partnership with the NEAR Foundation, highlighting its potential to offer innovative business opportunities to the younger generation in the district. He emphasized Dongdaemun’s commitment to consistently creating jobs and delivering job support programs.</p><h2 id="header-3">Use cases in public-private sectors</h2><p>Marieke Flament, CEO of the NEAR Foundation, shared a similar sentiment, expressing her excitement about the chance to nurture the Web3 industry in South Korea, a country renowned for its world-class talent pool. She outlined NEAR’s plans to offer education and support with the goal of cultivating a sustainable ecosystem. Flament believes that NEAR’s collaboration with Dongdaemun will lead to the discovery of valuable use cases in areas where the public and private sectors collaborate.</p><p></p>

NEAR Foundation and Dongdaemun District of Seoul Forge MOU to Boost Web3 Industry

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