“City officials in Busan, South Korea, plan to launch a digital assets trading platform, leveraging fourth-generation blockchain technology. The platform, called Busan Digital Asset Exchange (BDX), aims to tokenize valuable assets and diversify its covered assets.”
Search Results for: Busan
Busan’s Bold Pursuit to be a ‘Blockchain City’: A Step Forward or a Step Too Far?
South Korea’s second-largest city, Busan, seeks to become a ‘Blockchain City,’ building an Ethereum-compatible mainnet for its various blockchain services. The city has allotted a budget of 100 billion won ($75 million) under the Blockchain Innovation Fund (BIF) with hopes to stimulate a seamless transition into blockchain implementation, by enhancing private services’ quality and interconnection.
South Korean Crypto Scandal: A Call for Transparency in the Blockchain Future
A Seoul court has sentenced a former Coinone executive and three others for trust-related offenses involving receiving bribes to list altcoins, intending to manipulate prices. Coinone is one of South Korea’s four major crypto exchanges. The events underscore the need for compliance, integrity, transparency and accountability in the crypto industry.
Crypto Symphony: Week’s Highs and Lows from The World of Cryptocurrency
“This week, Bitcoin surged significantly and MicroStrategy plans to further boost its BTC coffers. Meanwhile, Tether marked a successful quarter, generating profits over $1 billion. Surprisingly, ETH 2,879 was rescued from a formidable hack thanks to an ethical hacker and Justin Sun. Volatility continues in the cryptocurrency market.”
The Race is On: The Bank of Korea’s Central Bank Digital Currency Picking Its Pilot Venue
The Bank of Korea is nearing selection of a pilot venue for its central bank digital currency (CBDC). Initially favored to be Seoul, preference has tilted towards Busan, Incheon or Jeju. The project involves close collaboration for CBDC payments and public evaluation, weighing factors like local economy impact and user numbers.
Navigating the Swiftly Changing Cryptographic Asset and Blockchain Landscape: Successes, Setbacks, and Security Issues
“The cryptographic asset and blockchain industry continually evolves. Recent developments include banking issues for Hong Kong crypto businesses, digital criminality, varied progress for Binance in Dubai and Nigeria, operational updates at Kraken, central bank digital currency tests in Korea, and a new partnership for Sorare. These highlight the rapid advancement and regulatory challenges in blockchain technology.”
The Bank of Korea’s Bold Leap into CBDCs: Prudence or Missed Opportunity?
“The Bank of Korea is poised to launch a Central Bank Digital Currency (CBDC) pilot program in 2023, excluding Seoul for smaller regions like Jeju, Busan, or Incheon. It aims to leverage the stability of local currencies and the versatility of digital transactions, amidst concerns of hasty implementations and potential challenges.”
South Korea’s CBDC Pilot: Revolutionary Leap or Stumbling Block for Digital Currency Future?
“The Bank of Korea is considering piloting its Central Bank Digital Currency (CBDC) in the cities of Jeju, Busan, and Incheon. This project aims to test the feasibility of issuing and distributing digital currency, using existing infrastructure from local currencies. However, technical barriers and understanding the potential user base currently pose challenges.”