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Tag Archives: Korean

Korean Gov’t Pilots Blockchain for Logistics Innovation in Country’s Largest Port

Two South Korean government ministries have launched a blockchain pilot for port logistics innovation, according to a press release from the country’s Ministry of Science, ICT and Future Planning (MSIT), published Dec. 18. MSIT, together with the Ministry of Oceans and Fisheries, are reportedly testing whether the technology can make Korea’s container shipping industry more efficient. As the press release ...

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South Korean Tech Giant Kakao Invests in Blockchain Project Orbs

Israeli hybrid blockchain platform Orbs has announced that it is entering an investment partnership with the venture arm of South Korean internet group Kakao. Created to serve as a pioneering public blockchain system offering unprecedented flexibility and utility, Orbs permits business dApp developers to deploy over a highly secure and liquid network that comes with production-ready scalability. Kakao, on its ...

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South Korean Internet Giant Kakao Invests in Blockchain Startup Orbs

South Korea’s largest messaging app operator Kakao has invested in Orbs, an Israeli blockchain startup, Reuters reports Dec. 13. The report states that Orbs did not disclose the size of the investment. Moreover, the startup reportedly explained that this investment “builds on its existing partnership with Kakao blockchain subsidiary Ground X.” As Cointelegraph reported in October, Ground X released the ...

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South Korean Crypto Exchange Launches Ripple Powered Remittance Service

South Korea’s first blockchain powered remittance mobile app and web service will be launched this month by crypto exchange Coinone. ‘Cross’ For Faster and Cheaper Cross Border Remittances The service, simply named Cross, will be launched by Coinone Transfer, a payments business and a subsidiary of the South Korean crypto exchange. The service aims to facilitate faster and cheaper remittances ...

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South Korean National Assembly Holds Regulation Debate With Local Crypto Exchanges

South Korea’s representative body, the National Assembly, has held a crypto regulation debate arranged by major local cryptocurrency exchanges, IT media oulet ZdNet Korea reports Monday, Dec. 10. According to local business outlet Financial Leaders, the topics of the debate were proposed by seven crypto exchanges — Bithumb, CobitCoin, Coinone, Upbit, Gopax, Coinplug and Hanbitco. The debate was attended both ...

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Major South Korean City to Build Blockchain-Enabled Virtual Power Plant

South Korea’s government will spend 4 billion Korean won (KRW) (about $3.5 million) to set up a blockchain-enabled virtual power plant (VPP) in the city of Busan. The development was reported by South Korean newspaper Yonhap News Agency on Monday, Dec. 10. Busan, South Korea’s second most populous city after Seoul, has announced that the city administration has selected a ...

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South Korean Startup Presto to File Constitutional Appeal Against Local ICO Ban

A South Korean blockchain startup, Presto, will reportedly file a constitutional appeal over the county’s ban on Initial Coin Offerings (ICOs), South Korean economic media outlet Sedaily reports Dec. 6. Presto claims on its website that it provides a “total solution to development teams from website building to token issuing.” The startup was reportedly trying to run a Decentralized Autonomous ...

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Korean Court Case Alleges ICO Ban Is Unconstitutional

Regulation A constitutional complaint has reportedly been filed in South Korea alleging that the government’s ban on initial coin offerings is unconstitutional. It has been more than a year since token sales were banned in the country but the government has yet to introduce any regulations for them, causing problems for startups. Also read: Indian Supreme Court Moves Crypto Hearing, Community ...

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South Korean Crypto Exchanges Overtake Maltese Ones by Daily Trade Volume

Cryptocurrency exchanges registered in South Korea have overtaken their Maltese-registered counterparts by average daily trade volume in November. This is according to a report by cryptocurrency market data provider CryptoCompare, published Thursday, Dec. 6. The November edition of CCCAGG, a monthly crypto exchange review published by CryptoCompare, shows that South Korean exchanges, including Bithumb, Coinone, Korbit and Upbit among others, ...

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North Korean Hackers Take Aim at Individual Crypto Investors

Faced with depleted reserves and having been hit with sanctions aimed at its illegal nuclear weapons program, North Korean hackers have a new strategy for growing the country’s cash reserves — steal crypto holdings from individual investors. According to a report from the South China Morning Post (SCMP), the option to target individuals who hold cryptocurrencies is a departure from their ...

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