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Main Highlights of Blockchain Week 2019 Conference

June G. Bauer

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Korea Blockchain Week 2019

Korea Blockchain Week is South Korea’s largest Blockchain conference to be held annually in the city of Seoul.

The much anticipated Korea Blockchain Week took place in Seoul, South Korea, from Sep. 27, 2019 to Friday, Oct. 4, 2019. During the event, the city hosted blockchain luminaries, startups and entrepreneurs. The main conference of the event, known as D.FINE, took place between September 30th and October 1st at the Grand Intercontinental Seoul Parnas. While people like Vitalik Buterin and Mike Novogratz definitely made their presence felt, the event belonged to South Korean startup Terra who pretty much stole the show. 

Korea runs on Terra

“Korea runs on Terra” was the rallying cry of the Korea-based stablecoin project. When they were done with their presentation, it was clear to everyone that this wasn’t an exaggeration. Terra, along with its payments dApp CHAI, expanded its reach throughout Korea via online and offline payments. During the event, they made four huge announcements:

  • CHAI will partner up with BCcard, Korea’s largest payments processor, to create a new debit card called “CHAI card.”
  • CHAI will partner up with CU to enable offline payments. CU is Korea’s largest convenience store chain with over 14,000 retail stores all over the country.
  • Korea’s number one hospitality app, Yanojla, will allow its users to pay via CHAI.

Terra will partner up with Shinsegae (SSG) Duty Free and enable global payments in Hong Kong. This is their first venture outside Korea.

Hdac and Friday

Headed by CEO Dae Sun Chung, Hdac is a blockchain company backed by Hyundai BS & C, the famous Automotive manufacturer. Hdac announced the creation of “Friday,” a new POS blockchain. They will also create a Blockchain Fund Expansion plan and have committed to invest at least $10 million in a bid to launch a fully-deployable testnet and mainnet, capable of supporting a dApps ecosystem.

Vitalik Buterin and Silvio Micali talk about the future of blockchain technology                    

Ethereum co-founder Vitalik Buterin and Algorand co-founder Silvio Micali gave sit-down interviews.

  • Buterin highlighted the need for grants for open source Ethereum projects. During his presentation, he also talked about the different blockchain applications.
  • Micali expressed his views on removing intermediaries in finance via the blockchain technology.

Mike Novogratz and Thomas talk about the crypto market

Mike Novogratz, CEO of Galaxy Digital Holdings, was harsh on the current state of altcoins, saying that a majority of them are “junk.” He said:

“There were a lot of junks that raised a lot of capital but did not have sustainability. They promised a lot of protocols and an ecosystem they are going to build, and then they would attract users to the ecosystem making it a speculative asset. In order to keep a speculative market alive, you need fuel in the form of news and updates from time to time.  We must look at these tokens as venture bets.”

Thomas Lee, a Managing Partner at Fundstrat, gave an interesting insight into the price behavior of Bitcoin. Lee stated that Bitcoin and S&P 500 are both closely linked to one another. If the S&P curve breaks out, then further Bitcoin price growth may be expected.

Conclusion

While Terra grabbed all the headlines post-event, the fact remains that Korea has once again shown that they are the heart and soul of the global crypto market. As with every other year, the Korea Blockchain Week has been a resounding success.

Pop cultureaholic, Technology expert, Web fanatic and a Social media geek. If you have any questions or comments please feel free to email her at [email protected] or contact her on Twitter @JuneTBauer1

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Video: Camila Russo interviews Vitalik Buterin

Sying Tien

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Vitalik Buterin

Camila Russo interviews Vitalik Buterin at the ETHWaterloo 2 opening ceremonies.

ETHWaterloo is organized by the core Ethereum global team, along with dozens of volunteers who invest their time and energy to make this event happen. The event took place on November 8 – 10, 2019 | Waterloo, Canada

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Egypt Will Issue a Digital Currency Next Year

M. Ali

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Egypt Will Issue a Digital Currency Next Year

Finally, after a long period of refusal, the Central Bank of Egypt revealed that it will complete the study to launch a digital currency next year, in cooperation with a number of international institutions.

According “Almal News“, Ehab Nasr, Central Bank’s VP assistant and head of payment systems and financial technology sector, the central bank will finalize the launch of a digital currency next year.

Nasr said that the Central Bank is cooperating in this regard with international institutions that he did not disclose, also did not disclose whether the new Egypt digital currency will be used only in internal banking transactions or will be available for public use and trade, where the study includes the need for the Egyptian market for digital currency and legislation necessary to launch .

A number of central banks around the world are seriously considering launching cryptocurrencies under their control, notably China’s central bank , Tunisia and Turkey.

The Central Bank of Egypt has repeatedly refused to deal with the use of digital currencies , including Bitcoin, pointing out that their prices are volatile due to speculation and lack of control by governments.

Recently, Arab central bankers recognized digital currencies during the meeting of the Board of Governors of Arab Banks and Monetary Institutions, and stressed the importance of addressing the risks arising from the use of digital currencies and the possible effects on monetary policies and the importance of appropriate preparation and capacity-building of central banks that wish to issue such Digital workers, development of digital identity standards, principles of customer identification, development of legislation and strengthening of international coordination in the face of risks.

Ayman Hussein, Deputy Governor of the Central Bank of the payment systems sector, said in October last year, that the Central bank began a study on the possibility of issuing an Egyptian digital currency, without disclosing further details, stressing that it comes in the context of reducing the circulation of banknotes And the transformation into a non-cash society.

Last year, The Central Bank issued a formal warning last year against dealing in all types of virtual cryptocurrencies, especially Bitcoin, because it is not issued by any central bank and is not supervised by any regulatory body in the world, and therefore lacks the official guarantee and government support enjoyed by the official currencies issued by central banks.

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eToro Acquires Delta App

Sying Tien

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eToro Acquires Delta App

The leading Forex trading platform eToro has acquired Delta, a popular cryptocurrency portfolio management app. Delta is a cryptocurrency portfolio tracker mobile app that currently supports over 6,000 crypto assets and more than 180 exchanges.

A screenshot of Delta App

This acquisition makes sense for Delta, eToro and most importantly our respective users. There are strong synergies between the two companies and we have many shared values, in particular the focus on community and continuous innovation. Both companies have been successful because we’ve built supportive and engaged communities and have a commitment to build user-first, cutting edge technology

Nicolas Van Hoorde, CEO of Delta, commented

About Delta App

Delta App was launched in 2017, it is a free mobile App that supports both Android and iOS platforms. According to Google Play, Delta App currently serves more than 500,000 active installs.

About eToro

eToro was founded in 2007 in Israel with the vision of opening up the global markets so that everyone can trade and invest in a simple and transparent way. eToro is a social trading and multi asset brokerage company that focuses on providing copy trading services that has registered offices in Cyprus, Israel and the United Kingdom.

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