Major South Korean Mobile Carrier Launches Blockchain Project

Union Mobile, the fourth-largest mobile carrier in South Korea, announced the launch of its blockchain project called ELYNET. Using blockchain to make communication more efficient On Sept. 11, Union Mobile announced that ELYNET aims to use blockchain technology to make telecommunications more efficient for those users who rely on a single carrier for telecom service.…

South Korean ArtBloc to Sell David Hockney Paintings via Blockchain

South Korean art-focused blockchain project ArtBloc will conduct a fractionalized ownership sale of two paintings by popular British painter David Hockney. ArtBloc launch commemoration ArtBloc plans to host a special event introducing the blockchain-enabled fractionalized ownership sale of two of David Hockney’s paintings in Seoul on Sept. 19, local outlet KoreaTechDesk reported on Aug. 29.…

Samsung Adds Bitcoin to Blockchain Keystore

According to Samsung developers, the Blockchain Keystore supports Bitcoin along with Klaytn, which is a Korean cryptocurrency from Kakao. The Blockchain Keystore is supported on the latest Samsung devices, which include the Galaxy S10e, S10+, S10, 510 5G, Note 10+ and Note 10. It can be found within the following jurisdictions: US, UK, Canada, Spain,…

Samsung-Backed Blockchain Startup Raises $7.5M from Shinhan Bank

South Korean blockchain startup Blockco has secured 9 billion Korean won ($7.5 million) in a recent Series B+ funding round participated by major local banks. Banks continue interest in blockchain Backed by South Korea’s tech giant Samsung, Blockco announced the investment in a blog post on Aug. 22. The funding round involved South Korea’s oldest…

Terra Stablecoin Alliance Adds South Korean Music Streaming Platform

Blockchain payment system and stablecoin issuer Terra has added South Korean music streaming platform Bugs to its e-commerce alliance. As CoinDesk reported Aug. 14, there are now 25 partners in the Singapore-based company’s South Korea-focused payment ecosystem. The Terra Alliance uses payment solutions provider CHAI as its front-end. CHAI incorporates a mobile payments app which…

Korea’s Oldest Bank Is Building a Blockchain-Based Security System

South Korea’s oldest bank, Shinhan Bank, partnered with two other companies to develop a blockchain-based security solution. Korea’s Shinhan bank to enhance security with blockchain According to a report published on Aug. 14 by local news outlet The Korea Times, Shinhan Bank signed a memorandum of understanding with financial technology startup Ground X and blockchain…

South Korea’s Shinhan Bank Developing a Blockchain Stock Lending System

South Korea’s oldest bank, Shinhan Bank, is developing a distributed ledger technology (DLT)-enabled stock lending platform, local media Econonews reports on Aug. 1. Blockchain-based stock lending Per the report, Shinhan Financial Investment signed an agreement with financial services company Directional to develop a blockchain-based stock lending service on May 28. Personal stock lending is part…

South Korean President Stresses Regulatory Innovation for Blockchain

South Korea’s President Moon Jae-In stated that regulatory innovation regarding blockchain technology is now a question of survival. Regulatory innovation is not a matter of choice anymore, it is a question of survival The President of South Korea stressed the importance of the development of new regulatory approaches towards new technologies such as blockchain in…