The National Assembly and the  Korea Fintech Industry Association will hold a global blockchain conference on Oct.11. in Seoul.

The conference will be an occasion for creating a smart blockchain policy, organizers said. Participants will discuss ways of promoting the fintech and blockchain industry, stimulating investment and seeking ways of protecting the rights of consumers.

About 1,000 participants both at home and abroad will attend the conference. Lawmakers from Taiwan, Estonia, Finland, and Japan will also be present.

Jung Byung–guk, a lawmaker of South Korea’s Bareunmirae Party, will chair the conference. The lawmaker said Korea badly needs measures for promoting blockchain and cryptocurrency. He added confusion lingers because no regulations and laws exist for the next-generation industry. He hopes the conference will be an occasion for policymakers, lawmakers and industry leaders to pool their wisdom for promoting the next-generation sector.

Rep. Jung has been proactive in developing the blockchain and cryptocurrency market. He has proposed the creation of a Crypto Special Zone in South Korea for issuing initial coin offering (ICO).

He said public enthusiasm for blockchain technology is exceptionally high in South Korea. Investors, blockchain producers, and government officials are closely monitoring the latest development of the technology. Despite such enthusiasm, Korea has yet to create an environment for helping blockchain producers maximize their technological potential while minimizing unintended damage for consumers. Answers to these questions lie in establishing fair rules applicable to the industry and the market, he said.

He added that the forthcoming conference would be an occasion for the participants both at home and abroad to share their knowledge and experience.