Jeju Island in South Korea will create a cashless city and plans to adopt cryptocurrencies such as Bitcoin for payments

ChainCatcher news, according to the Daily Economic News, the Jeju Special Self-Governing Province of South Korea has announced its "Jeju Artificial Intelligence and Digital Transformation Roadmap," aiming to transform the island into a cashless international city through digital innovation.

The plan includes establishing a convenient digital payment system that can be compatible with payment methods from neighboring countries such as China and Japan. In addition, Jeju Island also plans to introduce a system that will convert virtual assets like Bitcoin into Jeju regional currency for local transactions.