In the previous couple of many years, South Korea has been among the many quickest growing nations on this planet. It’s at the moment the planet’s third-largest crypto economy, after america and Japan.
Cointelegraph traveled to Korea to fulfill a brand new technology of crypto entrepreneurs who’re constructing the way forward for blockchain. Among the many individuals we talked to have been representatives of established companies — corresponding to crypto funding funds Hashed and Kakao’s blockchain subsidiary GroundX — but in addition frequent Korean traders who nonetheless see Bitcoin as a path towards a greater life.
Regardless of strict regulation on preliminary coin choices and cryptocurrency exchanges, South Korean authorities are additionally serving to the crypto trade and implementing blockchain expertise within the public sector. As an illustration, the town of Busan, Korea’s second-largest metropolis, is creating an area digital forex that will likely be utilized in individuals’s on a regular basis life.
Though it’s fertile floor for crypto entrepreneurship, the Korean market may be very aggressive: as standard Korean blogger Spunky advised Cointelegraph, the overwhelming majority of crypto startups are certain to fail. Solely probably the most daring entrepreneurs providing one of the best use circumstances will emerge.
Given the dimensions of Korea’s crypto financial system, it is just pure that Cointelegraph opened a brand new consultant workplace in Seoul. Try the video from the launch celebration!
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