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Monday, May 10, 2021
Home News New Korean Startup Market, Backed by Korea Exchange, Fueled with Blockchain

New Korean Startup Market, Backed by Korea Exchange, Fueled with Blockchain

The Korea Exchange has launched KSM (Korea Startup Market) service that provides a marketplace where one can buy and sell equity shares of startup companies. Blocko Inc., a local Blockchain startup company, participated in the project and adopted the Blockchain technology in authentication of identity and documents. The KSM service has applied Blockchain technology by using Coinstack, a Blockchain-based development platform by Blocko.

Blocko has secured the highest number of client references within Korea as a startup by providing its Coinstack platform to Korea’s JB Bank, Lottecard, KISA, Paygate and others. Blocko raised a series A round funding of $1.3 million from Samsung Venture Investment Corporation in July 2016.

Won-Beom Kim, Blocko Inc. CEO, said,

“This is the first commercialization example in which Blockchain is applied to the Korean over-the counter stock market.”

He added:

“We are striving to advance our product by partnering with Samsung SDS, CISCO and others to apply Blockchain to a wide range of industries in the future, beyond existing uses such as bonds, promissory notes and points within the financial sector.”

Coinstack is serviced in two ways, Cloud and On-premise, and supports all types of applications and protocols available via Bitcoin Blockchain. Furthermore, Coinstack is a development platform that supports both Blockchain-based contracts and Ethereum-based smart contracts, enabling companies to easily apply Blockchain-based services.

 

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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