The blockchain association of South Korea is in our blockchain news today for its intentions to turn the City of Gwangju into a ‘’specialized Crypto-Valley District.’’
According to the Korea Blockchain Enterprise Promotion Association, trying to convert the sixth largest city into a crypto hub will provide hundreds of jobs for the people of Gwangju. In order for this to happen, the blockchain association partnered with Universal Group need to meet with the mayor of the city:
‘’We plan to meet Mayor Lee officially to deliver the recommended plans to announce and transform Gwangju into a special governing city for cryptocurrency. We also plan to meet the councilperson Kim Dong-Chan to ask for support.’’
The blockchain lobby group is focused on the manufacturing industry for more jobs to be created because according to researches, turning the city into a crypto hub will create about one million new jobs.
Kim In-Ki who is the Chief Executive of Universal Group pointed out that the city could become one of the best destinations for blockchain businesses as Malta and Estonia are in the moment:
‘’Estonia and Malta have been the forerunners of the 4th industrial revolution by successfully attracting global blockchain corporations to invest in their cities, and they have enjoyed astronomical rises in the number of jobs created. Our government has attempted to create new jobs by myopically focusing on the manufacturing — auto or shipbuilding — industry, overlooking the rise of 4th industrial revolution.’’
However, the South Korean government has a pretty unclear stance on cryptocurrencies and the blockchain lobby groups pushes to make the government create a better regulatory framework.
Deloitte Features Blockchain In Its Annual Tech Trends Report
“Today, blockchain is to trust what the web was to communication: a profoundly disruptive technology that transforms not only business but the way humans transact and engage," the report notes.Deloitte also agrees that blockchain is viral, saying that the technology is “capturing both mindshare and investment is remarkable considering that a few years ago the word blockchain was known only through its relationship to cryptocurrencies. One of the areas where blockchain is likely to develop in the coming year, according to Deloitte, is the technology that includes "gateways, integration layers and common standards." However, Deloitte also shared the obstacles of implementing the technology, mainly related to the time-consuming operations, lack of standardization, high costs and complex applications.
Stellar’s XLM Token Added To Greyscale’s Crypto Investment Trust Fund
“I think the theory is a sound one,” he said about Stellar’s business proposition for bridging crypto to fiat currency conversions. An American bank may be keeping large amounts of currencies in foreign banks, and to be able to bring those balances of foreign currencies onto a balance sheet as working capital is valuable. Financial institutions won’t be required to hold balances all over the place. This will improve efficiency and shore up balance sheets for other uses.”Stellar had amazing performance especially in Q4 after striking a deal with crypto wallet provider Blockchain.com in order to start distributing XLM that is worth $125 million in an airdrop, hoping to increase bigger awareness and adoption. In the meantime, Greyscale had a mixed year in 2018 after bitcoin dropped to its 15-month low at $3,130. The company’s Bitcoin Trust was worth less than $1 billion for the first time in 2018. According to the crypto industry newsletter Diar’s research, Greyscale in the same apparently had holdings just over one percent of the total BTC in circulation. After the announcement, Stellar increased up by 1.22 percent.
SEAT Car Manufacturer To Start Working On Blockchain-Based Products Development
Bitcoin ATM Operator Coinme To Start Selling BTC At Coinstar Counting Machines
“Bitcoin is now accessible at your local grocery store via Coinstar kiosks, and this offering will make it even easier for consumers to participate in this dynamic new economy.”Coinstar, on the other hand, offers coin-to-cash conversion in their kiosks in multiple countries around the world but it still remains unknown whether the Bitcoin feature will expand just as quickly as it did in the US. Coinstar’s CEO Jim Gaherty noted: Coinstar offers coin-to-cash conversion kiosks in various countries throughout the world. It remains unknown whether the Bitcoin feature will expand beyond the U.S., while the company did not provide figures on how many machines will offer it.
“Coinstar is always looking for new ways to offer value to our consumers when they visit our kiosks.’’According to CoinATMRadar industry monitoring resource, there are more than 4187 Bitcoin ATMs worldwide and more than 60 percent or 2516 are in the United States. The market has grown plenty over the years and many operators are trying to get control of what they think to become a fairly popular trend for crypto usage.
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