Jeju Island will soon have a blockchain-based ecosystem for its tourism industry. The Olefang Global Consortium of Chinese, Japanese, and Korean companies led by iFang Korea is developing the ecosystem, which will include restaurants, hotels, car rentals, and shops. The members of the ecosystem will deal with each other internally in the blockchain in the “Olefang” token.
“We will expand the world through the OlePang Global Consortium to showcase the environment where blockchain and Cryptocurrency can be used in real life from Jeju Island”, said the CEO of IFang Korea, Jaebung Shim.
How or when the blockchain ecosystem will be introduced has not been announced, but if all goes to plan, Jeju Island would become the first destination to incorporate the technology across its tourism industry, setting a model for others around the world.