The main opposition Liberty Korea Party has included the allowing of initial coin offering (ICO) and initial exchange offering (IEC) among its key economic platform.

It said the party backs the legalization of cryptocurrencies and the development of the blockchain industry as the nation’s strategic industrial sector.

The party said all official documents and licenses should be stored in blockchain-backed mobile Apps. The storage of these documents in the blockchain would preclude fabrication or forgery.

The opposition party cryptocurrency and blockchain are inseparable. Thus legalization of cryptocurrency is inevitable, it said. The party said a clear guideline in ICOs and IEOs would remove business uncertainties.

Early this year, the party declared that it is the blockchain-based party. It vowed to store all legislative activities of its lawmakers in blockchain and evaluate their performance. Also, it would use blockchain technology to monitor the activities of its registered members.

The party said upgrading blockchain technology would promote democracy.

The party is ahead of the governing Democratic Party, which strictly bans cryptocurrencies.