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South Korea Monthly report (July)

Dear BBOD community. 

Hi. This is Sung Park, BBOD Korea Lead. How have you been? Amid scorching weather, the Crypto and Blockchain industry in South Korea has brought some rather hot issues. Let’s check them out!

Investors pay attention to blockchain business

Investors are beginning to invest in blockchain start-ups. Until the beginning of last year, the blockchain start-ups usually secured the initial investment through ICO, but recently, there have been a lot of cases where investors have decided to invest in the start-up businesses with huge growth potential. Thus, credibility in the success of the blockchain business has increased, and expectations for a strong growth base of blockchain start-ups are growing as well.

According to experts working in the blockchain industry, blockchain-specialized investors are actively proceeding the initial investment and acceleration of the blockchain business. 

As the investment industry expects that it will be able to lead the rise in corporate value by identifying a blockchain start-up from the beginning of the business, such as investing a certain amount of shares or transferring know-how on managing new business. 

Listed VC TS investment seriously starts investment on blockchain start-up

New Paradigm Investments is a specialized investment company that has done accelerating in eleven blockchain start-ups since the end of 2017. Sigma Chain, a developer of Future Pia, Blockchain Platform, and Healthcare Chain, a patient-integrated management solution based on blockchains, is also project of New Paradigm Investments.

New Paradigm Investments have recently been acquired by TS Investment, a Venture Capital (VC), which is a KOSDAQ-listed venture capital firm, it starts to provide a more stable investment base. Through New Paradigm Investment, TS Investment is also planning to leap from a secondary fund specialization VC to a comprehensive venture investment company that can manage the early stages of startups.

Crypto-fund Hillston Partners is also ahead of blockchain start-up seed investments. Hillstone Partners owns six blockchain portfolios. Two of them are blockchain based interpersonal micro loan services, Retum, an augmented reality blockchain platform developer, Scannet Chain.  The reason Hillston Partners started to invest in blockchain start-up is that it can prevent the loss of funds due to the sharp fluctuation of the cryptocurrency and can support the funds needed for start-ups in time.

News Source : http://www.fnnews.com/news/201907311833218849

Cryptocurrency X Entertainment

Kstar-Live, a start-up company, announced that it will sign a business alliance with SBS MediaNet, which is one of the main broadcasters. They will sell concert tickets and merchandise using blockchain technology-based cryptocurrency.

Kstar Coin is a cryptocurrency that was listed on Coin One, the major cryptocurrency exchange in South Korea. Users can acquire Kstar Coin through the exchange or by compensation for the activity on the Kstar-Live homepage. You can upload and share your favorite star content, or you can get a Kstar Coin by simply watching a popular video. With Kstar Coin, you can purchase tickets and products of Korean concerts.

Lee Hee-yong, CEO of KStar-Live, said, “Based on the collaboration with SBS MediaNet, we plan to hold a Korean-wave concert in Southeast Asia from next year. Based on SBS MediaNet’s sales and marketing power, we will create a blockchain ecosystem that can be used in real life”. SBS MediaNet produces various KPOP programs and concerts such as ‘The Show’ and ‘Dream Concert’.

News Source: http://www.nspna.com/news/?mode=view&newsid=375347

Report on Crypto Business Conference

I attended the 2nd Crypto Business Conference on July 18th in Seoul. The event was sponsored by aSSIST business school. 

There were two lectures and eight presentations on coin projects. I would like to discuss two project presentations that attracted my attention. 

crypto-business-conference-south-korea-seoul-2019
At the conference

The first interesting coin project was Lympo. Sungmin Kim, Lympo’s Korea lead, introduced Lympo’s business and its usage example. Lympo is designed to motivate people to exercise by rewarding them with crypto. The trial users from many companies confessed that Lympo had made them work out competitively as Lympo let users create a group within a company to check and compare colleagues’ exercise performance with one another. Lympo expects to attract more than 400,000 users in South Korea and 600,000 users in the U.S. by September. 

lympo-cryptocurrency-conference-seoul

Another project that intrigued me was Stasia.  Its business is designed to help people in the world sponsor their favorite celebrity by buying crypto pegged on a celebrity. With crypto, people can buy lots of goods of their favorite celebrity. Since it is not easy to buy local goods of certain celebrities, issuing crypto and letting fans buy goods which can solve the problem of wiring money and allow users to save on fees for transfers. Kyunghwan Min, Stasia CEO, talked about its use case in Vietnam, that a fan could get authentic goods of Dreamcatcher, a South Korea girl group by buying and using crypto issued by Stasia. He added that there will be a rapid increase in using crypto to financially support a favorite celebrity.

BBOD Korea Local News

After BBOD Korea started its second airdrop event, there have been many participants who followed and liked all BBOD Korea SNS and other communication channel. Since there are limits on BBD tokens, it would be a good idea to act fast.

BBOD Korea reopened its Naver Blog again. Those who are fluent in Korean can have exceptional news regarding the crypto and blockchain industry in South Korea. But those who are not fluent in Korean, don’t be sad. You can use a translation program to understand the contents or directly ask me!

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