This study focused on the data released by the Korean and Chinese governments and research institutes, focusing on the competitiveness of the blockchain industry in Korea and China through SWOT analysis method and on the future response and development strategy of the Korean blockchain industry.
As mentioned in this research report, China has already been preparing for the blockchain industry since 2016 together with national governments, local governments, academic and company.
Based on the SWOT analyzer method, Korea has been building an industrial base with interest in blockchain industry policies, technology and business since 2018, and can do well by developing blockchain technologies and businesses with detailed analysis of blockchain technologies and businesses in korea. Finally, it will be able to create a competitive Korean blockchain industry.
The internal environment analysis divided the internal capabilities of the Korean blockchain industry into strength and weaknesses by comparing the current status of the blockchain industry in China for the correct development and expansion of the Korean blockchain industry.
The strength of Korea's blockchain industry was first high access to ICT (Information Communication Technology) capabilities, second contribute to the expansion of the digital economy, third superior competitive edge in existing industries that will be applied with blockchain, Fourth number of blockchain patent applications. Weakness elements were first rebound by existing industries, second blockchain law and system deficiencies, third lack of technology development and standardization.
It is analyzed by dividing the factors of opportunity and possible threats that should be reflected in the development of Korean blockchain policies, technologies, and industries.
The elements of opportunity in korea's blockchain industry are first expand government, local government investment, second link Korean competitive content and technology, third enhancement of ICT cooperation between korea and china. threat elements are the first cryptocurrency instability second rapid increase in Chinese blockchain policy decisions, third increase in the size of the Chinese blockchain industry, and fourth the Chinese blockchain industry patent competitiveness in the world.
Korea's blockchain industry policy and various blockchain corporate and business models are still insufficient, so present Korean blockchain competitiveness and strategic directions through SWOT analysis.
S-O strategy are first create Korea's own competitive blockchain industry by linking Korea's competitive technology in ICT, second connects Korea's competitive content industry to Korea's blockchain sector, third link long-accumulated korea financial industry know-how and technological prowess in the Korean blockchain industry, fourth standardized Korean competitiveness.
W-O strategy are first come up with policies and systems for the blockchain In order for the blockchain industry to be systematically created in Korea, second necessary to foster blockchain experts.
S-T strategy are first develop digital economic expansion by differentiating Korean blockchain competitiveness, second expand Korea's competitive blockchain patent applications.
W-T strategy are first collaborate and develop together by small, medium, and enterprises, second cooperate in various directions with the Chinese government and Chinese companies with china blockchain skills.
To establish a competitive business response model for korea’s blockchain Industry, first establish a blockchain policy and system together with the government, businesses and academia, second establish a competitive business response model for the Korean blockchain industry, third need to have a joint blockchain industry model strategy with korea and china in the blockchain sector.
As above. this research put forward a countermeasure and a direction for the development strategy of the Korean blockchain industry by compiling the results of SWOT analysis along with the results of case analysis of Korea and China's blockchain industry.