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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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Blockchain

Video: TEDx – A Blockchain-based Decentralized university

Sying Tien

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TEDx - A Blockchain-based decentralised university

Professor John Domingue, Director of the OU’s Knowledge Media Institute, discusses developments in technology at TedX

I believe that with blockchain technology we can create a radically new type of university: a DAO University. A DAO is a Decentralised Autonomous Organisation which operates with no central control and no humans in the loop and are based on Smart Contracts: pieces of computer code on a blockchain which can represent and enact financial and legal contracts.

In a DAO University value and reputation associated with teaching and learning would be accounted for through a blockchain with no central control. Instead the whole learning community would agree how the educational elements, for example, learning materials, teaching resources and teaching delivery are shared and recompensed.

A DAO University is a next step evolution in higher education. A born digital community owned educational institution for the 21st Century. Open University Professor. Director of the Knowledge Media Institute and President of STI International. Published over 270 articles in the areas of semantics, the Web, distributed ledgers and eLearning. Instrumental role in the EU-funded project, QualiChain, which aims to revolutionise public education and its relationship to policy making and the labour market.

*Video Courtesy Of TEDx.

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Syria Might Issue a New Digital Currency

M. Ali

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Soreyaty, a Syrian company has revealed the completion of a new digital currency which will go by the name of e-Lira. The new cryptocurrency will be launched on January 1st, 2020.

According to Al-Iqtisadi (a Syrian financial news portal), Soreyaty’s CEO Fadi Shammout, told Al-Iqtisadi that the new digital currency will be a stable currency backed by real fiat money and will replace US dollars in all of Syria’s foreign trade and transactions, such as imports and exports.

Soreyaty will open local exchanges all across Syria, so Syrians can exchange the new cryptocurrency with fiat.

The economy of Syria has deteriorated considerably since the beginning of the Syrian Civil War in 2011. Syria’s decreased economic output has also lead to a trade deficit of epic proportions. As a result of the war, Syria’s total exports have eroded to a mere 5% ($622 million) of the country’s 2008 total ($13.3 billion). The country currently faces a trade deficit of $3.8 billion.

The U.S. government has imposed a series of economic sanctions on Syria. These include legislatively mandated penalties, including export sanctions and ineligibility to receive most forms of U.S. aid or to purchase U.S. military equipment.

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Sweden Launches a Digital Currency

Sying Tien

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Sweden just announced the launch of the “e-krona”, it’s own central bank digital currency in a new pilot platform. Sweden’s central bank (Riksbank ) will sign an agreement with IT consultancy firm Accenture to create a pilot platform for a it’s new cryptocurrency.

The primary objective of the e-krona pilot project is to broaden the bank’s understanding of the technological possibilities for the e-krona

the Riksbank said in a statement.

Sweden has been working hard to eliminate the use of cash. It introduced negative interest rates and bitcoins are in high demand since citizens now see cryptocurrency as a way to store wealth. There are many Bitcoin startups that launched in Sweden, including KnCMiner and Safello. Cryptocurrency demand is growing in Sweden and there are no signs that this will stop.

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