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South Korea

Someone Is Trying to Trademark ‘Samsung Coin.’ It’s Not Samsung

Someone in South Korea appears to be trying to take advantage of Samsung’s blockchain efforts by nabbing the “Samsung Coin” trademark. According to filings with the Korean Intellectual Property Office (KIPO), an application to register the trademark in both English and Korean was submitted on July 10 by an individual called Kim Nam-jin. The filing …

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Major Korean Firms Partner to Launch Blockchain Mobile ID System

A consortium of major South Korean firms partnered to launch a blockchain-based mobile identification system in 2020, English-language local media Korea Times reports on July 14. Per the report, the participants are financial services firms KEB Hana Bank, Woori Bank, KOSCOM, mobile carriers SK Telecom, KT, LG UPlus, and technology behemoth Samsung Electronics. The aim …

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South Korea’s Shinhan Bank Is Cracking Down Harder on Anonymous Crypto Users

Shinhan Bank, the second largest financial group in South Korea by assets, is redoubling its efforts to police accounts related to cryptocurrency exchanges, according to local press reports. The goal? To completely quash the anonymous crypto transactions in the country. Because the news suggests a change it policy it has generated considerable buzz. But the …

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Longenesis Brings South Korean Medical Records to the Blockchain

Longenesis has concluded two new partnerships in South Korea. According to the Riga, Latvia-based, Hong Kong-incorporated company, it will be providing its medical-consent platform-as-a-service to Hanshin Medipia Medical Center and Infinity Care. That brings to four the number of business relationships it has in South Korea, currently the company’s primary market of focus. Longenesis, which …

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LG Using New Blockchain DApp Platform From Korean Internet Giant Kakao

Ground X, the blockchain arm of South Korean tech giant Kakao, has launched the mainnet of its Klaytn platform, The Korea Herald reported on June 27. It is hoped that the platform, which focuses on decentralized apps (DApps,) will drive blockchain adoption in the country. Several major companies in the region are using the technology from launch, including LG. …

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Polish Bank Verifies Documents With Ethereum Blockchain

Alior Bank, a bank based in Warsaw, Poland, is using the public Ethereum blockchain to authenticate its clients’ documents, according to a report by Forbes on June 17. According to the report, when a client at Alior receives a document, they can now verify its authenticity by following a website link to its spot on …

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Korean Crypto Exchanges Update T&Cs to Accept Liability for Hacks

A number of South Korean cryptocurrency exchanges have been forced to update their terms and conditions to accept liability for potential hacks and service issues. According to a report by the Yonhap News Agency, South Korea’s antitrust watchdog, the Fair Trade Commission, said Monday that five exchanges in total had made the change after it …

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Appetite for Blockchain Tech Builds Among Korean Banks, but Without Crypto

In recent weeks, major South Korean financial institutions have rolled out a number of services incorporating blockchain technology, especially in the areas of Know Your Customer (KYC) procedures and security. Fintech has become a buzzword for local banks trying to keep up with the change of the times. The banks, however, are not looking into …

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Every Game This South Korean Startup Makes Has Its Own Blockchain

South Korean blockchain game startup Planetarium is planning to launch a test version of a new decentralized game, Nine Chronicles, later in this month. The role-playing game will store its storyboard and data all on a blockchain. Its own blockchain. This is the first game developed with Planetarium’s game authoring tool which will be officially …

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South Korean Post Teams Up With Crypto Exchange to Apply Blockchain

South Korea’s national postal service Korea Post is planning to apply blockchain technology to its billing system, local news agency News1 Korea reports on June 5. The initiative is a collaboration between the South Korean government and local private companies including cryptocurrency exchange Coinplug and global IT company NHN. According to the report, South Korean …

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