According to the Deloitte 2018 global blockchain survey, almost 39% of the respondents were of the view that blockchain technology was ‘overhyped’.

In the study in which over 1,000 blockchain-savvy executives at firms boasting annual revenues of $0.5 billion or more in the United States, the United Kingdom, Canada, Mexico, Germany, France, and China were polled, this perception was stronger in the world’s largest economy.

“Despite enterprise digital respondents’ interest in blockchain’s capabilities, nearly 39 percent of the broad global sample said they believe blockchain is “overhyped.” In the United States, this number is higher: 44 percent of respondents view blockchain as overhyped, up from 34 percent in a 2016 survey by Deloitte,” notes the survey.

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Throughout the past two months, investors in the local crypto market of South Korea have continuously expressed their optimism towards a drastic change in the regulatory landscape of crypto.

Since early February, the crypto market has endured the third-worst correction in its history, experiencing a 78 percent decline in price. Despite the bear market, the cryptocurrency industry of South Korea has seen significant progress pertaining to regulation and adoption.

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South Korea’s Jeju island is proposing a plan to become a blockchain haven wherein initial coin offerings (ICOs) would be allowed in the autonomous province despite the ongoing ban in the mainland.

According to a report by the JoongAng Daily on Monday, the governor of Jeju Island has formally proposed that the central government of South Korea designate the island as “a special zone for blockchain and cryptocurrency” in its interests to become a hub for the blockchain industry.

Jeju Island governor Won Hee-ryong notably made the proposal during a meeting with high-ranking government officials including Kim Dong-yeon – Korea’s finance minister and deputy prime minister for the economy as well as other policymakers last week. Read more: https://goo.gl/exJqVD