Korea Exchange opens the Korea Startup Market with blockchain technology

Korea Exchange opens the Korea Startup Market with blockchain technology

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 Inc.

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.

Blocko Inc: https://www.blocko.io/index_en.html

Related News

Korea Steadily Becoming a Cryptocurrency and Fintech Hub

South Korea has become a hotbed for cryptocurrency and blockchain technology startups. Just recently the Korea Exchange launched its Korea Startup Market (KSM) based on blockchain technology, provided by Korean blockchain startup Blocko. Furthermore, the Korean Financial Services Commission (FSC) plans on regulating virtual currencies like bitcoin in....

Korea Exchange Launches Blockchain-Powered Private Market

The Korea Exchange (KRX), South Korea’s sole securities exchange operator, has launched a new service in which equity shares of startup companies can be traded on the open market. Called the Korea Startup Market (KSM), the service is being provided in partnership with Blocko, a Korean blockchain startup that has produced a blockchain-as-a-service platform called Coinstack. The Coinstack platform will provide document and authentication services for the KSM by checking against client references that have already been provided to the system by Korean banks like JB Bank, KISA, Lottecard,....

Korea Exchange Launches Blockchain Market for Private Companies

South Korea’s securities exchange operator, the Korea Exchange (KRX), has launched a blockchain-powered platform wherein startup companies can trade equity shares on the open market. The new feature will see its roll-out by implementing a blockchain platform called ‘Coinstack’, developed by Korean startup Blocko. With a focus on document and identity authentication, Coinstack is serviced both via cloud and on location, while supporting all protocols and applications build on the Bitcoin blockchain. Blocko is also backed by a number of client references within Korea, with its platform....

Bank of Korea Seeking Technology to Develop Digital Currency

South Korea’s monetary policy regulator is taking steps to create its own digital coin. Bank of Korea is now looking for a technology provider to develop a test environment for the project. The news comes after major commercial banks expressed skepticism over their cooperation with domestic cryptocurrency exchanges. Central Bank of Korea to Launch Pilot Platform for CBDC The tech supplier will be chosen through an open bidding process, Bank of Korea (BOK) announced Monday. Its task will be to set up a pilot platform for the launch of the South Korean central bank digital currency....

South Korea Sees its First Blockchain Consortium

A group of 21 financial investment companies and five blockchain technology firms have signed a memorandum-of-understanding (MoU) to develop distributed ledger solutions as a blockchain consortium. Announced yesterday, the blockchain consortium is led by the Korea Financial Investment Association and sees a number of financial institutions and Fintech firms collaborate to form a blockchain think tank for the Korean capital market. According to Business Korea, the IT Committee of the association will be sharing its blockchain case studies and results of its technical research with the....