#Asia Blockchain Insider (June 2018)-Part 2

“South Korea Is the Mecca of Blockchain.”

Samsung Next Gives Love Calls to Korean Start-up Companies.

Samsung Next, an operator of a venture capital investment fund at the scale of 150 million USD (about 160 billion KRW), is set to meet with South Korean start-up companies late this month. The investment director of Samsung Next, Samsung Electronics’ affiliate that leads cooperation with global innovative companies, as well as the local directors in the U.S., Europe, and Israel are rolling up their sleeves to discover start-up partners in the blockchain and AI sectors, with ‘decentralization’ as their theme.

Also, the global start-up accelerator Sparklabs, along with Macquarie Group, will initiate its cooperation with Korean start-ups under the theme of digital transformation. Michael Novogratz, the head of Galaxy Digital Capital Management and a legendary figure on Wall Street acclaimed as a “cryptocurrency tycoon,” is set to stand on the stage at “Korea Blockchain Week” to be held in Seoul in the biggest scale in Asia so far.

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Although the Korean blockchain industry is struggling with the issue of uncertainty in regulations due to the government being unable to propose proper cryptocurrency and blockchain policies, the world still considers Korea as the mecca of blockchain. Korea’s global position in this industry owes a great deal to its world-class communication network and the start-ups that have diverse ideas. Korean tech start-ups with such a base are receiving many love calls from global blockchain tycoons.

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Recently, Samsung Next picked blockchain as one of the five major innovative technologies that will attract most attention this year. Samsung’s analysis shows that, although the blockchain technology is mainly used for the cryptocurrencies now, it will soon lead changes such as settling accounts in large scales using cryptocurrencies and breaking the wall of data usage in various business sectors.

[Excerpt from: Financial News]

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EOS Ranked Number 1 in China’s Announcement of Cryptocurrency Rankings

On the 24th, CryptoSlate reported that EOS was ranked number 1 in the second round of the cryptocurrency class evaluation run by the Chinese government. In the first round evaluation held last May, the leaders were Ethereum, Steem, and Lisk, and EOS was not included in the list.

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The blockchain project classes are determined based on three elements, namely technology, application, and innovation, and their evaluation is conducted by the China Center for Information Industry Development (CCID) under China’s Ministry of Culture and Tourism. CCID evaluates the usefulness of applications and levels of technology and project development using the cryptocurrency classes.

The cryptocurrencies in the top 15 are EOS, Ethereum, NEO, Stellar, Lisk, Nebulas, Steem, BitShares, Ripple, Qtum, Waves, Cardano, Monero, Ark, and Ethereum Classic, ranked in the listed order. According to CCID, bitcoin came at the 17th among 30 cryptocurrencies, and Komodo, 5th-ranked in the first round, has fallen to the 16th place in the second round.

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EOS’s topping the list is surprising, considering the project investigation and related issues it had to face after its launch 2 weeks before. EOS suffered a problem on June 17 of a high number of EOS BPs failing to generate the main chain blocks for unidentified reasons, 40 hours after its main net had started to operate. Block.one explained that the issue was a minor form of software error in transaction processing.

ECAF issued an urgent command to the block producers to reject transactions with 27 wallet addresses, but declined to provide reasons for such action. Block.one is confident that it can resolve such potential bugs, but there is a growing doubt among investors.

[Excerpt from: Coinpress]

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SBI Launches Japan’s First Cryptocurrency Exchange Market Owned by a Bank.

Japan’s financial service company SBI Holdings announced on last 4th that it had started the service of VCTrade, its own cryptocurrency exchange market. So far, the company had to postpone the launch of the exchange market due to security reasons. The company said that the exchange market under the title VCTrade will mainly focus on XRP deals leveraging its support for bitcoin.

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SBI added that it will prioritize the XRP, which is a token developed in-house and used in the Ripple protocol, and that it plans to gradually adopt bitcoin (BTC) as well as bitcoin cash (BCH) in the future. The company has not disclosed detailed schedules yet. SBI Holdings has a partner relationship with Ripple and jointly owns and operates SBI Ripple Asia.

Also in this announcement, the company has revealed its plan of providing fee exemption in XRP/JPY dealings for a certain duration after the launch of the exchange market. 20,000 users who make a reservation during the launch period will be able to use the exchange market immediately. The exchange market opening is slated for July.

[Excerpt from: Coinpress ]

Abby Lee
Abby LeeMarketing team
T +82. 70. 8270. 8970 | F +82. 2. 3431. 4273
2018-06-29T11:15:24+00:00