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The Korea Herald

Blockchain

February 24, 2021
Bitcoin moves with extreme volatility amid warnings

Bitcoin prices continued to fluctuate on Feb. 24 as authorities in and out of the country expressed concerns over the digital coin’s volatility. After plunging 22 percent from Feb. 21’s record high of 65.84 million won ($59,294) to 50.9 million won on Feb. 23, 2021, bitcoin prices stabilized a...
November 28, 2019
Korea’s largest crypto exchange freezes accounts as W58b worth assets disappear

Upbit, South Korea’s largest cryptocurrency exchange by transaction volume, has frozen digital user accounts as it found digital assets worth 58 billion won ($49.2 million) have disappeared, its operator Dunamu said on Nov. 27. All cryptocurrencies in Upbit’s hot wallets -- digital wallets -- ha...
September 05, 2019
Tech disruption plays out in WFP humanitarian initiative

INCHEON -- Many humanitarian programs are underway in areas where war refugees are literally caught in the crossfire -- where infrastructure for a better quality of life often seems like a tall order. For the United Nations World Food Program, however, technology disruption has come into play in o...
September 04, 2019
Korean crypto exchanges rush to implement FATF guidance

INCHEON -- The head of South Korea’s major crypto asset exchange Upbit said on Sept. 4 that the country’s crypto exchanges are moving to implement a June guidance by Financial Action Task Force to curb the criminal use of their digital assets. “(Korea’s cryptocurrency exchanges) are at the nas...
September 04, 2019
Blockchain seeps into real life: UDC 2019

INCHEON -- Blockchain is quietly becoming mainstream as a component that allows corporations to save costs in accumulating consumer data and create contents based on them. In sync with such trends, there are signs that legal uncertainties involving blockchain-powered virtual assets might be on the ...
July 25, 2019
Busan designated regulation-free zone for blockchain tech

Busan, South Korea’s second-most populous city, has been designated as a regulation-free zone for blockchain technologies, according to the Ministry of SMEs and Startups on July 24. The port city expects blockchain applications in tourism, finance, logistics and public safety with projects led by...
July 15, 2019
‘Blockchain, there’s no turning back’

HONG KONG -- The RISE conference is reputed as one of Asia’s largest tech events with a focus on startups. For instance, one of the key speakers was Sophie Kim, founder of successful grocery platform Market Kurly. She talked about how she merged technology with grocery delivery. A number of startu...
June 20, 2019
No. of crypto exchanges rises in Korea

The number of cryptocurrency exchanges in South Korea has risen amid a lack of regulations to prevent investors from trading virtual coins with opaque accounts, industry data showed on June 20. In May, the number of crypto exchanges stood at 205 in Korea, although the frenzied buying seen in Janua...
May 27, 2019
Bitcoin price surpasses W10m for first time in 12 months

On May 27, the price of Bitcoin, the dominant cryptocurrency, spiked to over 10 million won ($8,450) for the first time in a year. Its price rose 9.2 percent from a day earlier to 10,447,000 won as of 10:35 a.m., according to cryptocurrency exchange Bithumb. This is the first time the largest digi...
May 15, 2019
Dunamu invests $46m in blockchain startups in 2018

Dunamu, operator of global cryptocurrency exchange Upbit, announced on May 15 that it have invested more than 55 billion won ($46 million) in 26 blockchain companies along with its investment subsidiary Dunamu & Partners since they announced a three-year plan to invest a total of 100 billion won in...
April 24, 2019
Social media veteran bets on blockchain

For Kwak Jin-young, founder and CEO of blockchain company Sigmachain, creating a globally successful service has always been his dream. He led the team that designed Cyworld, which was popular in South Korea before the era of Facebook and Kakao Talk. “Cyworld and Kakao all failed to become a glob...
April 10, 2019
DAPA seeks blockchain platform for transparency in defense projects

South Korea’s state arms procurement agency will push to build a blockchain-based platform to enhance transparency and efficiency in conducting defense acquisition projects, officials said on April 10. A blockchain refers to a growing list of digital data organized in blocks and managed by mul...
April 07, 2019
Lawmakers call for blockchain regulations to be eased

A bipartisan group of lawmakers has recently ratcheted up calls for deregulation of the blockchain industry, as the financial regulator has adopted a conservative attitude toward the easing process due to procedural reasons. While the ruling Democratic Party has focused on comprehensive deregulati...
February 21, 2019
Deconomy’s 2nd edition to be held on April 4-5 in Seoul

The second Deconomy blockchain conference will be held on April 4-5 in Seoul under the themes of “Blockchain and Finance,” and “Blockchain and Technology.” At the first event last year, high-profile blockchain figures and experts, including David Chaum, Joseph Poon, Ian Grigg, Vitalik Buterin,...
February 21, 2019
Hedera Hashgraph forecasts useful blockchain apps to hit market soon

Blockchain and cryptocurrency markets have been on a downslide over the past year in line with the ever-falling digital currency values. Despite the current difficulties facing the markets, the co-founders of Taxas-based public distributed ledger company Hedera Hashgraph said that they remain posi...

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