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BITCOIN PRICE: 6,395.50     HIGH: 6,602.50     LOW: 6,208.37

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World Blockchain Roadshow 2018 – Asia and Europe • June 28 - August 18, 2018

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Tag: Korea

Cryptocurrency Exchanges Are Finding it Difficult to Buy Insurance

Category: Altcoins, Bitcoin, Blockchain, Business, Finance, News, Tech

Cryptocurrency Exchanges Are Finding it Difficult to Buy Insurance

Cryptocurrency exchanges are currently having a difficult time taking out an insurance policy due to security problems and countless cyberheists. Cryptocurrency Firms and Insurance According to Business Korea, cryptocurrency exchanges are currently in negotiations with insurance companies. The Korean Blockchain Association is in conversation with Hyundai Marine & Fire Insurance Co. and Hanwha General Insurance Co. to understand how cryptocurrency…

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South Korean Authorities: No Ten Percent Tax on Crypto Gains for Now

Category: Altcoins, Bitcoin, Blockchain, Business, News, Regulation, Tech

South Korean Authorities: No Ten Percent Tax on Crypto Gains for Now

On June 22, 2018, reports emerged that the South Korean authorities were looking to categorize cryptocurrency trading profits as ‘other income’ and levy a 10% tax on them. However, the Ministry of Strategy and Finance has refuted the rumors. A Ten Percent Tax on Bitcoin Trading? While the vibrant, relatively crypto-friendly nation have since made it clear to virtual currency…

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BTCManager’s Week in Review – Bitcoin Plummets Below $6,000 Mark as Bithumb Gets Hacked and Mt.Gox Creditors Reimbursement to be in BTC/BCH

Category: Altcoins, Bitcoin, Blockchain, Crime, Ethereum, Finance, News, Regulation, Tech

BTCManager’s Week in Review – Bitcoin Plummets Below $6,000 Mark as Bithumb Gets Hacked and Mt.Gox Creditors Reimbursement to be in BTC/BCH

For the first time since the start of the year, the price of bitcoin dipped below $6,000 per coin, which marks a 10 percent decline versus the previous week and an over 50 percent drop year-to-date. The continuance of the bitcoin price decline was driven by the hack of Korean bitcoin exchange Bithumb and the news that Mt.Gox creditors will…

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South Korean Banks to Utilize Blockchain for Digital I.D.

Category: Blockchain, Finance, News, Tech

South Korean Banks to Utilize Blockchain for Digital I.D.

South Korea looks to blockchain technology to provide its next-generation digital identification system, according to a report on Korea JoongAng Daily. The new system proposed by the Korean Federation of Banks (KFB)  called BankSign, is a direct response to the recent move by the South Korean government in lifting its mandate stating that banks must rely on traditional methods of…

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South Korean Court Recognizes Cryptocurrency As Assets

Category: Bitcoin, Crime, News

South Korean Court Recognizes Cryptocurrency As Assets

South Korea’s top court has recently confiscated $2.3 billion in cryptocurrency assets from a 33-year old man who operated a pornographic site. It is the first time cryptocurrencies have been confiscated in the country. Korea’s highest court confirmed on May 30, 2018, a court order that seized 191 bitcoins from a man named Ahn. The 191 bitcoin was worth approximately…

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South and North Korea Unification Recorded on Ethereum Blockchain

Category: Altcoins, Blockchain, Ethereum, News, Tech

South and North Korea Unification Recorded on Ethereum Blockchain

After a long time of unrest on the Korean peninsula, both Southern and Northern leaders Moon Jae-in and Kim Jong-un signed a peace treaty at the 2018 Inter-Korean Summit at Panmunjom on April 27, 2018. Marking the unforgettable event, a South Korean developer decided to record the Panmunjom Declaration on the Ethereum blockchain. Blockchain Record Historic Event The separation of…

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Samsung Electronics to Employ Blockchain Technology to Augment Supply Chain Network

Category: Blockchain, Business, News, Tech

Samsung Electronics to Employ Blockchain Technology to Augment Supply Chain Network

Samsung Electronics, one of the biggest information technology company, is mulling over using blockchain technology to assist in administration its supply and logistics network. The propound blockchain based platform’s role would be to oversee global shipments and cut back shipping costs.     Blockchain System to Slice 20% Costs in Shipping   Samsung SDS is also contemplating to develop blockchain platform…

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OKCoin to Add Ether Support, China to Compete With Korea

Category: Altcoins, Ethereum, Finance, News

OKCoin to Add Ether Support, China to Compete With Korea

Chinese bitcoin exchanges such as OKCoin hinted their plans to add Ethereum support for local ether traders for over a year. According to local sources, OKCoin representatives, at last, confirmed their integration of Ethereum. CnLedger, a Chinese digital currency and blockchain research group, confirmed OKCoin’s short-term plan of adding support for ether trading with its local source. The CnLedger team…

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UK and South Korea Collaborate to Build Fintech Bridge

Category: News, Regulation

UK and South Korea Collaborate to Build Fintech Bridge

The UK and South Korea have signed a strategic partnership to create a ‘fintech bridge’ for startups and government agencies to establish both countries as the leading nations in the fintech sector The UK, London in specific, is known as the global fintech and blockchain hub to startups and investors in the fintech and blockchain industries. According to the Outlier…

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Bitcoin in Korea: Mainstream Awareness on the Upswing

Category: Commentary, News

Bitcoin in Korea: Mainstream Awareness on the Upswing

Since 2014, the South Korean Bitcoin industry has shown an explosive rate of growth, with the emergence of well-established, venture-backed Bitcoin companies including CoinPlug and Korbit. Bitcoin users in Seoul and other main cities in the country began to access reputable Bitcoin exchanges to purchase and sell Bitcoin, which drastically increased daily trading volumes of the BTC to KRW pair….

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