Blockchain 

Power Ledger Strikes Deal to Roll Out Blockchain in South Australia

Australian blockchain energy firm Power Ledger has partnered with a local energy retailer to roll out its technology in South Australia. Power Ledger’s blockchain-based software will allow Australians to pool their excess solar and battery storage to a Virtual Power Plant for greater control and management over their energy. Commercial deal with Australian electricity wholesaler Powerclub Within the partnership, Power Ledger will be integrating its blockchain-based energy trading application Virtual Power Plant (VPP) to a commercial offering of Australian electricity wholesaler Powerclub, the firm announced Nov. 7. Similarly to other…

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Bitcoin 

P2P Crypto Trading Volume Increased 2800% in South Africa, Says Paxful

Peer-to-Peer (P2P) cryptocurrency trading platform Paxful has seen 2,800% more trades in South Africa this month compared to October 2018. Demand for crypto sharply increases in S.A. Paxful announced the growth of its South African user base in a blog post published on Oct. 28. In the post, the company also notes that Johannesburg, Pretoria and Cape Town are the three cities that see the highest numbers of users. Paxful adds that the overall number of trades in the African continent also increased by 64% when comparing the current month…

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Blockchain 

New Gov’t Initiative to Put South Korean Trade on Blockchain by 2021

The South Korean government is planning to establish a digital trade foundation to reduce the costs of trade by using blockchain technology. Reduce trade costs by more than 90% On Oct. 14, South Korean Finance Minister Hong Nam-ki introduced the country’s Development Plan for Digital Trade. Under the plan, technologies such as blockchain, big data and AI, will be applied to digitize the entire Korean trade finance ecosystem by the year 2021. Finance Minister Hong Nam-ki reportedly said: “We will build a digital trading platform that can be easily and…

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Blockchain 

South Korean Blockchain Startup Raises $8M for Identity Authentication

Blockchain company Iconloop has secured 10 billion Korean won (KRW) (over $8 million) from seven investment companies participating in a Series A funding round. Per an Oct. 10 announcement, it was Iconloop’s first venture capital investment since its establishment in 2016, with the participation of companies such as Korea Technology Finance Corporation (KOTEC) and T.S. Investment, among others. Building blockchain-based identity authentication service Iconloop is planning to allocate the raised funds to launching its blockchain-based digital identity authentication service called “my-ID”. According to the company, my-ID can be used for…

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Blockchain 

South Korean KB Kookmin Bank Adopts Blockchain to Improve Internal Processes

Major South Korean bank KB Kookmin Bank is planning to integrate blockchain technology into its internal processes. As local news outlet Korea JoongAng Daily reported on Oct. 7, KB Kookmin stated that blockchain technology could provide a spectrum of benefits to the financial industry, including the issuance of digital tokens, funding, custodial services and trading. Taking a proactive approach toward blockchain adoption As for the bank itself, it intends to deploy decentralized ledger technology to fight money laundering, improve verification services, custodial services and token offerings. Lee Woo-yeol, CIO at…

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Blockchain 

Major South Korean Store Chain Supports Blockchain Payments App

Mobile payments app CHAI is launching mobile blockchain-based payments at 13,500 CU convenience stores in South Korea. According to an Oct. 7 press release shared with Cointelegraph by blockchain startup Terra, CHAI — which operates on the Terra blockchain — will now be accepted as a means of payment at the major convenience store chain. App support will be added at CU by the end of 2019 following a partnership between CHAI and convenience store operator BGF Retail, which owns the stores in question. Per the release, CHAI will also…

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Bitcoin 

South Korea’s Crypto Youth | Cointelegraph Documentary

In the last few decades, South Korea has been among the fastest developing countries in the world. It is currently the planet’s third-largest crypto economy, after the United States and Japan.  Cointelegraph traveled to Korea to meet a new generation of crypto entrepreneurs who are building the future of blockchain. Among the people we talked to were representatives of established firms — such as crypto investment funds Hashed and Kakao’s blockchain subsidiary GroundX — but also common Korean investors who still see Bitcoin as a path toward a better life. …

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Blockchain 

Revolut Partners with Visa to Expand Into North, South America and Asia

United Kingdom-based digital banking app Revolut announced a major partnership with Visa to expand its services globally across 24 new markets, including North America. According to a Sept. 30 press release, this will bring 56 markets worldwide in total into Revolut’s reach. North, Latin American and Asian markets Per the release, the terms of the agreement stipulate that Revolut will primarily issue Visa-branded cards as it pursues its global expansion push. Visa will enable the app to launch services initially in Australia, Brazil, Canada, Japan, New Zealand, Russia, Singapore and…

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Bitcoin 

South Korean Exchange Upbit Ends Orderbook Partnership With Bittrex

South Korean cryptocurrency exchange Upbit has broken its partnership with Bittrex in a reorganization of its Bitcoin (BTC), Ether (ETH) and Tether (USDT) markets, local South Korean news outlet Decenter reported on Sept. 25.  Previously it had a shared order book arrangement, with Bittrex orders being visible in the Upbit bid windows. Upcoming reorganization of markets In a notice to customers, Upbit announced its intention to introduce changes into its BTC, ETH and USDT markets. These changes include the introduction of market orders, limit orders, and stop-limit features, although no…

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Bitcoin 

South Africa: The Next Frontier for Crypto Exchanges

Africa is set to be the next battleground for major crypto asset exchanges, as the conditions on the continent are favorable for virtual currency, and as a leading economy, South Africa could lead the charge in this digital transformation. We will examine how the economic situation and the high inflation in Africa could shape the local crypto markets and why people on the second-most populous continent have been gaining an interest in crypto investments. South Africa in particular seems ready to ride the waves and thrive in the crypto world.…

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