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  'Existing control systems on bank runs may be powerless if Libra becomes popular,' KIF warns

  Shim Doo-bo 2019-07-22

  The Korea Institute of Finance (KIF) revealed its views on Libra in a press briefing on finance Saturday. In a report entitled “Libra, Bank Run and Tobin Tax,” the think tank said, “Existing control systems that could contain massive bank runs could be incapacitated in the event of abrupt shocks on the real economy if the public’s receptivity to unregulated payment channels is expanded.” The

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  Payexpress to partner with Korea Commerce Solutions to promote 'exports of automated package kiosks'

  James Jung 2019-07-15

  Payexpress Friday announced a plan to promote exports of automated package kiosks in partnership with Korea Commerce Solutions Group. The two companies signed a memorandum of understanding on these contents.Payexpress has paved the way to expand its blockchain-based payment and mileage service to automated package kiosks and franchise payment systems. Korea Commerce Solutions Group has integrated

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  [Blockchain in big business]'Prepare for age of blockchain 4.0,' IBM Korea says

  Cho Jae-seok 2019-07-12

  “Blockchain technology is growing rapidly in compliance with needs demanded in the relevant industry. In contrast, Korean companies still spend a lot of time verifying the effectiveness of projects and technologies. Now it’s time to prepare for the forthcoming age of blockchain 4.0 by putting innovative ideas into practice within a short time and establishing networks.” Park Se-youl, director f

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  Users of Dunamu’s crypto wallet Bitberry top 100,000

  Cho Jae-seok 2019-07-11

  The number of people using Bitberry, the cryptocurrency wallet of Dunamu’s subsidiary Rootone Soft, has exceeded 100,000.Bitberry, released last September, has secured 100,000 users and 56 partners. Transactions numbered 2.5 million won. Bitberry is a convenient remittance service facilitating the transfer of cryptocurrencies only with a Kakao account login and a telephone number transfer functio

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  Kakao’s 9 Klaytn BApps to begin offering services

  Park Hyun-young 2019-07-10

  Nine of Kakao’s public blockchain platform Klaytn’s 51 BApp (Blockchain Application) partners will begin services.In the “launch event for the Klaytn mainnet” held in southern Seoul Tuesday, Ground X, Kakao’s blockchain technology subsidiary, said nine partners would release services based on its blockchain mainnet “Cypress.” They are Cosmochain, Piction Network, HINT Chain, Pibble, SPIN Pr

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  BTHMB Holdings denies 'contract over financial investment, acquisition involving Dual, SG BKGroup'

  Shim Doo-bo 2019-07-10

  BTHMB Holdings, which is to take over a company having a controlling stake in Bithumb, has made public its position on Dual Industrial’s alleged acquisition of Bithumb. On Tuesday, BTHMB Holdings said, “Bithumb’s largest shareholder BTHMB Holdings has no contract at present in relation to financial investment and acquisition involving Dual Industrial and SG BKGroup.” “It’s true that Dual and

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  Dual Industrial set to take over Bithumb

  Shim Doo-bo 2019-07-10

  KOSDAQ-listed Dual Industrial Co. will acquire management shares in a company having a controlling stake in another enterprise supposed to take over Bithumb. So there are expectations that Dual may take over Bithumb ultimately.In its public notice Tuesday, Dual announced that it would acquire 57.41% of SG BKGroup PTE. LTD. for 235.7 billion won. To this end, Dual plans to raise 210 billion won thr

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  Ulsan to use 'KT blockchain' for local currency

  Park Hyun-young 2019-07-08

  KT will issue its blockchain-based local currency in the southeastern Metropolitan City of Ulsan following Gimpo City. KT said Sunday that it had been selected as the operator of Ulsan’s local currency called “Ulsan Love Gift Certificate (Ulsan Pay),” which will be issued from August -- 30 billion won per annum. KT’s blockchain-based local currency platform “Good Pay” will be used for Ulsan

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  Payexpress to search for promising domestic firms in connection with Baidu Innovation Center

  James Jung 2019-07-03

  Payexpress will launch the Baidu Innovation Center Connection Program in hopes to discover promising domestic companies and introduce them to the Chinese market. In September, Payexpress will host the ‘Baidu Innovation Center Prime Day’ with Decenter to recruit companies wishing to enter the Chinese market. Jaehyang Kim, CEO of Payexpress, said, “We plan to search for companies wishing to move

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  Chain Partners to release Bitcoin cloud mining product

  Shim Doo-bo 2019-07-02

  Chain Partners, a comprehensive digital asset company, unveiled a plan to release a Bitcoin cloud mining product Tuesday. The Bitcoin cloud mining is a sort of agent service in which consumers receive mined Bitcoin every day while Chain Partners is in charge of a whole process of mining from purchases of mining equipment to the installation and operation of equipment. The mining equipment secured

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  [Blockchain in big business]Hancom Secure eyes blockchain for Smart City

  Cho Jae-seok 2019-07-01

  “In the near future, there will be an environment in which distributed digital assets are traded freely. At the heart of this will be the blockchain service of Hancom Secure. This year’s goal is to empower our capabilities while carrying out diverse projects.”Hancom Secure CEO No Yoon-sun made the remarks in an interview at Hancom Tower June 20, expressing confidence on her company’s performan

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  Terra vs. Libra: 'similar in structure but different in essence'

  Janice Yunji Kim 2019-06-28

  “If you look at the Libra white paper closely, you can find that there were more ideas put forth by Korea. There was Cyworld when Facebook appeared and then KakaoTalk at the time of WeChat’s appearance. Given that Terra presented the white paper earlier than Libra, we cannot afford to lose our preemptive idea again merely because a large foreign company enters the market.”Terra CEO Shin Hyun-su

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  Kakao unveils mainnet of public blockchain platform 'Klaytn'

  Park Hyun-young 2019-06-27

  Kakao’s blockchain subsidiary Ground X unveiled the mainnet of its public blockchain platform “Klaytn” Thursday. The “Governance Council” that consists of nodes tasked with running the platform was announced too.BApp partners tasked with expanding ecosystem of cryptocurrency ‘KLAY’ Nine BApps (blockchain applications) including HINTchain, Angtube and PIBBLE begin offering Klaytn-based servi

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  Will KakaoTalk unveil cryptocurrency wallet before release of Klaytn mainnet?

  Park Hyun-young 2019-06-26

  Korea’s IT company Kakao will launch its blockchain platform “Klaytn” Thursday. Also, there are expectations that a cryptocurrency wallet will be loaded onto KakaoTalk. An official familiar with Klaytn’s BApp project said, “We heard the news that KakaoTalk would embrace a cryptocurrency wallet. But the wallet will make its debut after an interval of time following the release of the mainnet.

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  Korea’s transport ministry to implement pilot Smart City program with Canadian firm

  Cho Jae-seok 2019-06-25

  Korea’s Ministry of Land, Infrastructure and Transport will implement a pilot program for blockchain-based traffic data storage in partnership with a Canadian blockchain-focused company.Graph Blockchain headquartered in Toronto said in a news release Monday, “We will run this program with Korea’s ministry of transport as part of the ‘Smart City’ initiative. We will offer our solution to strea