Asia Blockchain Updates 2019.12.05 Two Major Blockchain Hub Teamed up, Korean Gov No Investigating Upbit why?

Two Major Blockchain Free zone in Korean and China Teamed Up,
Hdaq backed by Hyundai Raise funds for Blockchain Ecosystem,
Korea Gov No Investigates Upbit Hacking yet, why?

Asia Blockchain Updates 2019 by Amy Kang
Asia Blockchain Updates 2019 by Amy Kang

Blockchain Free Zone, Busan City Partners with Qingdao City of China

Busan and Qingdao City Teamed up for Blockchain
Busan and Qingdao City Teamed up for Blockchain

Liu Ji-ai, secretary of the Shandong Party Committee, led a delegation of Shandong Province to Busan on December 1 and officially visit Korea for three nights and four days. In the afternoon of December 1, the Qingdao City-Busan Regional Economic and Trade Cooperation Exchange Meeting was held in Busan.

A memorandum of understanding (MOU) was signed by both Qingdao City and Busan Metropolitan Economic Cooperation Agreement, especially confirmed by key figures from both sides.

Xing Ting Guo, vice chairman and deputy mayor of the Qingdao Party Committee, gave a brief introduction to Qingdao belonging to Shanghai Cooperation Organization (SCO) pilot district and Shandong Free Trade Zone which Qingdao city has belonged.

According to the MOU, this agreement includes the expansion of cultural tourism exchanges between the two cities and the expansion of economic cooperation partnerships to various fields such as blockchain, fintech, and smart city. Through this agreement, both cities plan to actively promote the exchange of economic industries in the 4th industrial revolution sector,]such as blockchain special zones and smart cities, and also actively involved in the exchange of traditional tourism industries.

In June 2018, Chinese President Xi Jinping expressed Qingdao’s support for the construction of the China-Shanghai Cooperation Organization Regional Economic and Trade Cooperation Demonstration Zone at the Qingdao Summit attended by the leaders of the Shanghai Cooperation Organization (SCO).

In July 2019, China approved the “Global Plan” of the Shanghai Cooperation Organization pilot zone and demanded the construction of a new platform for “one-on-one” international cooperation. Qingdao is currently speeding up the four-center construction of international trade, modern logistics, two-way investment cooperation, and business and travel culture exchanges.

Hdaq by Hyundai, Raise 27Mill USD Funds to Build a Blockchain Ecosystem

Hdaq backed by Hyundai, Raise 27Mill USD funds for blockchain ecosystem.
Hdaq backed by Hyundai, Raise 27Mill USD funds for the blockchain ecosystem.

Blockchain technology company Hdaq Technology backed by Hyundai announced that it will raise a fund worth of 32 billion KRW (about 27 Mill USD) to build a blockchain ecosystem.

Hdaq announced on Dec 5 that it will participate in the creation of the Initial Investment fund project of venture capital (VC), T Investment in Korea. The fund aims to find out those AI, Blockchain, Big data related startups with high growth potential, and invest as Unicorn companies.

Hdaq plans to support consulting, incubating, accelerating (So-called C.I.A) with capital investments in startups. It also aims to secure a practical use case of Hdaq Blockchain technology and increase its usability to lay the foundation for Dapp (decentralized application) ecosystem in the near future.

“We will lead the popularization of various blockchain convergence services by discovering, investing, and fostering SMEs and startups who have a real case of platforms, technologies, and solutions,” Joo Yong wan, Representative of Hdaq Korea mentioned in the interview with media.

Kim Tae-hoon, CEO of T Investment said, “We will contribute to building a healthy venture ecosystem by fostering ICT convergence service and companies and also by creating various success stories.”

Korea Internet Security Agency (KISA)’s Investigation about Upbit Hacking Has been Delayed, Why?

KISA Promised to Investigate Upbit, But been Postponed
KISA Promised to Investigate Upbit, But been Postponed

According to the media report, the Korea Internet Security Agency (KISA) visited Upbit directly after the upcoming KRW 48 Million USD worth of ETH was leaked from Upbit.

KISA officially replied that it is true that one of the employees had visited the Upbit office on November 28 to help identify the accident happening in Upbit and give technical support but there is no official report submitted by Upbit itself.

About one week has passed since the hacking happened, KISA has not yet participated in investigating Upbit, as the reason for hacking has been not yet confirmed.

A KISA official said, “Now, Upbit is identifying the root cause of the hacking with the police. If the police confirm that is due to hacking, KISA can officially intervene in the investigation.”

Recently after the accident, Upbit has suspended the withdrawal of some cryptocurrencies temporarily. In this regard, Upbit also has announced the introduction of a new Wallet system and recommended users to replace existing payment addresses into new ones.




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Amy kang

Amy kang

Product designer, turning conceptual ideas into reality with logic and feelings for us, Based in the UK

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