South Korea's Jeju Island plans to become a cashless city, intending to use Bitcoin and other cryptocurrencies for payment

According to a report by the Daily Economic News, South Korea's Jeju Special Self-Governing Province 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 is compatible with the payment methods of 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 local currency for local transactions.