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Bank of Korea Says No Urgent Need for CBDC

Bank of Korea Says No Urgent Need for CBDC

South Korean news agency The Korean Herald reported today that the nation’s central bank has said it has no plans of issuing a digital currency in the near future. Cryptocurrency has taken center stage in many financial institutions around the globe and has found its way into major economic discussions in recent times, this includes the World Economic Forum held …

South Korean Crypto Exchanges Combine to Tighten AML Security

South Korean Crypto Exchanges Combine to Tighten AML Security

South Korean exchanges Coinone, Corbit, Upbit, and Bithumb have joined in implementing heightened levels of anti-money laundering (AML) security in view of high-level hacks over time. Despite the country’s high level of regulation, requiring companies offering cryptocurrency products to implement AML security, hackers have proven to find ways of infiltrating some exchanges’ safeguards. The four exchanges will focus on activities …

South Korean District Implements Public Proposal Evaluation on Blockchain

Public Proposal Evaluation

A report from local media outlet Newsis stated that Yeongdeungpo-gu district of South Korea has implemented blockchain technology in its proposal evaluation system to further improve transparency of its administrative processes. The blockchain-based system is the first of its kind in the region to apply such technology. It will incorporate the immutability and data legitimacy aspects of the blockchain into various …

Seoul Examines Military Implications of Blockchain

Seoul Examines Military Implications of Blockchain

The South Korean government has announced it is to launch a pilot which will examine the possibility of integrating blockchain solutions into the country’s defense industry. The Defense Acquisition Program Administration (DAPA) is planning a USD 530,000 spend for each of the proposed projects aimed at encouraging both small and large defense companies to tender plans. British news outlet Jane’s …

South Korea Supports Blockchain Development With Tax Incentive

South Korea Supports Blockchain Development With Tax Incentive

The government of South Korea has taken an initiative to boost the development of blockchain industry in the country by adding the sector to the fields of research and development eligible for tax credit, as reported earlier this week by the Ministry of Strategy and Finance. The Ministry of Strategy and Finance had announced the proposed amendments to the enforcement …

7 South Korean Exchanges Pass Security Inspection Checklist

7 South Korean Exchanges Pass Security Inspection Checklist

The South Korean Ministry of Science and ICT reported yesterday that only seven cryptocurrency exchanges including Upbit, Bithumb, Gopax, Korbit, Coinone, Hanbitco, and Huobi Korea have passed the security inspection checklist. A survey was conducted by the Ministry of Science and ICT, the Korea Internet & Security Agency and the Ministry of Economy and Finance, during the period of September to …

Samsung Files for UK Crypto Trading Wallet Patent

samsung, blockchain

Electronics giant Samsung appears to be turning its direction towards cryptocurrencies as it continues to develop the next generation of phones. This time it is targeting the UK market, with an application already filed with the U.K. Intellectual Property Office for its ‘Samsung Crypto Wallet’. The suggestion is that Samsung is planning to begin building cryptocurrency facilities into its popular …

Bitcoin and Ethereum Covered by New Seoul-Based Crypto MBA

seoul, blockchain, south korea

The latest institution to offer an accepted qualification in cryptocurrency studies is the South Korean Seoul School of Integrated Sciences and Technologies. The school has launched what it calls “the world’s first crypto MBA course for a business graduate school,” with course areas covering Bitcoin, Ethereum, smart contracts, crypto funds, Dapp planning, game theory, and skills in whitepaper writing. The …

Upwards and Onwards for South Korea’s Crypto Investors

Upwards and Onwards for South Korea's Crypto Investors

South Korea grows from strength to strength as 2019 approaches, closing a tumultuous year on cryptocurrency markets and heralding another year of optimism for the Asian powerhouse. In many ways, it is countries such as South Korea and Switzerland who have struck the path in terms of how to attract blockchain investment in 2018. The government has led the way in …

Binance CEO Displays Christmas Optimism

Binance CEO Displays Christmas Optimism

The CEO of Binance, the world’s biggest cryptocurrency exchange, has continued with his optimistic slant for the company as the new year approaches. Terming 2018 as the “year of correction”, Changpeng Zhao is maintaining that current prices are a real boon for investors and this fact along with the increasing volume of DLT applications being produced by developers will push the …

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