Unblock_news (OP)
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February 18, 2019, 02:58:47 AM |
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Some companies from South Korea still pursue the development of blockchain-based technologies even if ICOs were banned by the government. According to a report from CryptoNews, Keb Hana, one of the largest commercial banks from South Korea, recently filed 46 blockchain-related patents about blockchain-based applications. Read more here: https://www.unblock.news/news/south-korea-leaning-towards-blockchain-related-activities |
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blockman
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February 18, 2019, 05:07:47 AM |
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Some companies from South Korea still pursue the development of blockchain-based technologies even if ICOs were banned by the government.
Are these companies will create a token just for them to be able to pursue the adoption of blockchain to their systems? South Korea is one of the friendliest country in the world that's willing to adopt crypto and blockchain which is happening right now. According to a report from CryptoNews, Keb Hana, one of the largest commercial banks from South Korea, recently filed 46 blockchain-related patents about blockchain-based applications.
One of a hell adoption is coming there and AFAIK there's a cut to the taxation if the companies are blockchain related. |
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akihikohideaki
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FABA
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February 18, 2019, 09:10:28 AM |
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I think the South Korean country made the best steps in its policies despite the fact that the country has banned ICO. In my opinion, the State has become the most difficult position in this case, although in reality the State will benefit from the development of this ICO but on the other hand the State is required to protect its citizens in providing legal certainty. In principle, this is the reason for all countries and also South Korea.
Yes, hopefully the 46 ICO patent-related submissions can be given space by South Korea so they have the same opportunity to be involved in the digital future.
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traderethereum
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February 18, 2019, 09:25:17 AM |
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That will be great news for the cryptocurrency community because one of the South Korea bank still interests with the blockchain technologies. I don't think that banning for the ICO will stop them to develop or getting involved in the blockchain technology. I think it will be another opportunity to that bank to attract more customer to try their new services if someday, the development of blockchain technology is launched. |
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cynical
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February 18, 2019, 09:33:39 AM |
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things are starting to pick up in relation to blockchain adoption. recently we have seen a few more states in the U.S accepting bitcoin and many countries looking to attract blockchain fintech companies and startups. they see potential in blockchain.
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mrdeposit
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February 18, 2019, 10:16:04 AM |
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things are starting to pick up in relation to blockchain adoption. recently we have seen a few more states in the U.S accepting bitcoin and many countries looking to attract blockchain fintech companies and startups. they see potential in blockchain.
We have made great progress about adoption, and this is increasing everyday. Not only small restaurants or grocery stores, large companies also began to understand what is the cryptocurrency and how can we use it. But my only fear is that any day when the states create their own digital money, will people leave BTC. |
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Bostraticus
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February 18, 2019, 11:05:07 AM |
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This is good news, but it is even better that such events occur more and more often. The blockchain is truly integrated into all areas, and many are eager to seize the opportunity to capitalize on this.
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Koro-Sensei
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February 18, 2019, 11:36:31 AM |
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How nice of them to implement this kind of currency to their system. South Korea's innovative thinking is really commendable. To think they will adopt this kind of billing which other countries would take time to consider, though south korea has a good way of opening good opportunities to their domain and maybe use it to their advantage in the near future. |
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Caladonian
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February 18, 2019, 12:01:01 PM |
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How nice of them to implement this kind of currency to their system. South Korea's innovative thinking is really commendable. To think they will adopt this kind of billing which other countries would take time to consider, though south korea has a good way of opening good opportunities to their domain and maybe use it to their advantage in the near future. That's right, they are seeing this system as advantage in coming future, South Korea knows how big this industry can be after some years, adoptions will happen so they are really working out to make sure that they have the advantage from other countries that will also cater cryptocurrency, it's just need more interested parties to make things possible. Time will reveal the success of this plan and surely it will benefits them, progress will be there we just need to wait for more good news. |
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Jating
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February 18, 2019, 01:16:08 PM |
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Some companies from South Korea still pursue the development of blockchain-based technologies even if ICOs were banned by the government.
Are these companies will create a token just for them to be able to pursue the adoption of blockchain to their systems? South Korea is one of the friendliest country in the world that's willing to adopt crypto and blockchain which is happening right now. As per article, it looks like this is all private based blockchain so it doesn't bring any significant dent to the adoption of crypto. Adoption of blockchain technology ≠ crypto adoption. According to a report from CryptoNews, Keb Hana, one of the largest commercial banks from South Korea, recently filed 46 blockchain-related patents about blockchain-based applications.
One of a hell adoption is coming there and AFAIK there's a cut to the taxation if the companies are blockchain related. I'm not sure about this as well, and I don't think companies care, they wanted to explore blockchain that will help them improved their business model, so it doesn't matter if there is a taxation cut or not, might be good as bonus though. |
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Supercrypt
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February 18, 2019, 03:52:08 PM |
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I would like to make something clear, ICO's are not actually "banned" in korea, its just unregulated ones are banned.
You can still register as a company and make your own ICO but that requires an ICO to be registered in Korea and most of the ICO's are based in other countries so they are registered in their own countries which makes it illegal in Korea.
If a Korean wants to make an ICO he is definitely allowed to do so as far as I know as long as its registered with proper government branches and government checks the ICO (if its scam shady or anything) and allow or decline the request.
However, working towards building a blockchain software company without ICO is still not banned and if you are building a blockchain tech company with no ICO there is absolutely no law that can stop you so of course it will get more attention from a high tech country like Korea.
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gantez
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February 18, 2019, 04:17:09 PM |
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South Korea is grabbing the opportunity of block chain rapidly. The country has a technological system in place and block chain will be well suited to function in the integration of coded programs.
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Naida_BR
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February 18, 2019, 04:55:41 PM |
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I don't think that companies that pursue their own development of a blockchain can help the whole ecosystem and push it forward.
The use of their native token will be probably for their own internal operations or the operations within their own value chain. We need a governmental allowance for the worldwide flow of decentralized networks freely.
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Idrisu
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February 18, 2019, 07:27:19 PM |
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South Korea is really making a great step in development of blockchain technology and also taking this advantage in developing they country and technology. Icos banning in South Korea not withstand, I have seeing more business in South Korea still using blockchain technology.
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CoinChili
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March 18, 2019, 01:35:13 PM |
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It is useful you put some resources. It makes me wonder and curious, despite of banning ICOs in their country, now they are welcoming and accepting any blockchain technology? In example is that, payment method using blockchain. Inspite of their disagreement before from ICOs, i think this is the REAL reason. |
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eaLiTy
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March 18, 2019, 04:14:11 PM |
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Some companies from South Korea still pursue the development of blockchain-based technologies even if ICOs were banned by the government.
According to a report from CryptoNews, Keb Hana, one of the largest commercial banks from South Korea, recently filed 46 blockchain-related patents about blockchain-based applications.
It is good to see that Asian countries are crypto friendly and that is what South Korea is following and they are making use of the new technology and the market situation to give their citizens the opportunity to start new ventures and thereby new jobs and that is how intelligent government will do rather than restricting innovation. On the other hand North Korea is busy with innovative ways to steal bitcoin from exchanges round the globe   , two end of the spectrum. |
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hipSter
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March 18, 2019, 08:01:32 PM |
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It looks like South Korea slowly becomes the economical center of all eastern Asia. It will get a huge influence when the world economy become fully digital.
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ecnalubma
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March 18, 2019, 10:46:34 PM |
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Blockchain has a real use and most companies have no doubts about it but ICO's are different. The only thing that triggers the ban of ICO's is that most governments are uncertain about it and the rampant fraudulent activities ads to it that makes them uncomfortable. ICO's are technically an upgrade on traditional fundraising however it needs to establish and fix some loopholes.
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usorin
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March 18, 2019, 11:19:08 PM |
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This is good, it looks like there are still people with the sense of reality. The true is the Asian people rock in technology so it was almost impossible to take the hands off the blockchain technology. |
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Beerwizzard
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March 19, 2019, 10:43:59 AM |
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The problem that there is a big chance that none of those 46 apps will use cryptocurrencies. Building some private blockchain for a company might be good but as a Bitcoin holder I would feel absolutely no effect in my pocket. Blockchain has a real use and most companies have no doubts about it but ICO's are different. The only thing that triggers the ban of ICO's is that most governments are uncertain about it and the rampant fraudulent activities ads to it that makes them uncomfortable. ICO's are technically an upgrade on traditional fundraising however it needs to establish and fix some loopholes.
The thing that forces governments to ban ICOs is that they are taking money with an increased risk of losing it. No one cared if those ICOs were just startups that are developing their product without using cryptocurrencies and asking for money. |
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