Asia Blockchain Updates 2019.11.06

Korean Exchange CoinZest shutdown withdrawal, MSIT Korea reorganize the team due to blockchain, Carry Protocol gave a palm to Arpa

by Amy Kang

Korean Exchange CoinZest Shutdown the Withdrawal due to Bankruptcy.

According to the SeoulEdaily today, It has turned out that Korean cryptocurrency exchange CoinZest has been preventing the withdrawal of the KRW due to its capital shortage.

According to the announcement, CoinZest has prevented users from withdrawing Korean won for four months since August because of building next-generation trading platform. But the real background story was attributed to the unexpected high taxation in Korea and funds for the exchange Nexybit.

SeoulEdaily confirmed with CoinZest executives that they have already completed the construction of the next-generation platform, which was the main reason to stop the withdrawal of KRW. However, withdrawal has not been resumed after the launching of the platform due to fund shortages.

CoinZest paid 3.7 billion KRW (3.2Million USD) in taxes on airdropped cryptocurrency to customers last year. It was found out that Lending about 1 billion won (1Million USD) to the exchange Nexybit also deeply affected the financial crisis. The executive explained, “Nexibit promised to repay the money in April next year, and the money shortage will be solved to some extent.”

MSIT of Korea, Reorganized the organization to accel the Blockchain, AI and Data

The Ministry of Science and ICT of Korea recently reorganized the organization of information and communications under the 2nd Vice Minister to accelerate the innovation of digital technology such as artificial intelligence, big data, and Blockchain regarding the 4th industrial revolution.

The highlight of this reorganization is the establishment of an AI-based policy coordinator under the MSIT policy office.

In the meantime, it has been pointed out that AI departments need a dedicated department as they are implemented according to the individual projects of each department.

An official from the Ministry of Science and Technology explained, “We will focus on supporting platform technology research and development such as blockchain and innovative services through the convergence of data and artificial intelligence, which is the foundation of industrial innovation.”

Carry Failed to Enter Binance against Arpa

Carry Protocol failed to enter Binance.

According to Binance on Nov 6th, The number of votes that Carry has collected on the Binance Community Coin Vote Round 2 apparently fall behind about 7 times comparing to the number that Arpa has.

The Binance community coin voting round is similar to Bithumb’s cryptocurrency listing voting in the past, and winning projects will have the opportunity to be listed on the Binance.

The voting has taken place for a total of 24 hours from 4:00 am (UTC) on November 5 to 4:00 am (UTC) on November 6, 2019, With the 12-hour voting deadline, Arpa Chain’s votes were far ahead.



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