South Korea’s tourist hotspot launches DLT-based app tracing COVID-19
Jeju Island and blockchain company Iconloop are proceeding with a full rollout of their COVID-19 contact tracing app following successful pilots. Jeju Island, a major tourist destination in South Korea, is introducing a government-backed, system for tracking COVID-19 contacts based on blockchain technology.On Jan. 14, the Jeju Special Self-Governing Province and blockchain technology firm Iconloop announced that the blockchain-based contact tracing system is now fully operational.Called “Jeju Safety Code,” the project was initiated in August 2020 to enable COVID-19 contact tracing for....
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South Korean blockchain firm Iconloop is set to test a blockchain-based mobile driver’s license system in the country. Enterprise blockchain firm Iconloop has secured approval from South Korea’s Ministry of Science and ICT to test its decentralized identity, or DID, technology system to manage driver’s license data in the country.According to an announcement from the company, the trial run aims to showcase the DID’s capabilities in offering secure data storage while preventing data forgery.Commenting on the project, Iconloop CEO Jonghyup Kim remarked that the company’s DID platform allows....
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This Friday, the first South Korean crypto regulatory framework has gone into effect after the one-year preparation period. The new law requires firms in the country to comply with stricter requirements to protect investors and their assets. Related Reading: $235 Million Crypto Theft from WazirX Was ‘Perpetrated’ By North Korean Hackers, Report Reveals South Korea’s […]
An app called Hotspot allows bar and restaurant patrons in Seattle, Washington to earn discounts on drinks when paying with bitcoin, according to GeekWire. It also allows the establishments to accept bitcoin payments. The merchant incurs a transaction fee of a half to one percent compared to 3 to 4 percent credit cards charge in fees. Hotspot works with payment processor Braintree, a payment app owned by PayPal, to enable the bitcoin transactions. Sixty venues in Seattle, where Hotspot is based, are accepting bitcoin with the app. Users get a free drink for signing up for the app on the....
South Korea’s crypto tax law continues to face significant opposition from cryptocurrency proponents in the county. Kim Boo-kyum, recently nominated as Prime Minister by South Korea’s President Moon Jae-in, has said he will look into the country’s crypto tax law.According to a report by KBS World, the Prime Minister nominee is keen to ensure that there are no victims of the crypto tax law coming into effect in January 2022.Kim’s comments come amid growing opposition to the incoming crypto tax regime. Tensions were further stoked after Eun Sung-soo, chairman of South Korea’s Financial....