Sejong Telecom and Hyosung TNS to Collaborate on Real Estate Security Tokens

South Korea-based document management software firm Polaris Office announced the 10th anniversary of its office software (SW) cloud service launch, according to local media News1. Reaching this milestone has coincided with the rising price of its native token, POLA. At the time of writing, POLA is trading at KRW 48.89 ($0.04), up 13.99% from the previous week.  The 10th anniversary of its service launch appears to be a direct cause behind this recent rise in POLA prices, despite the recent downturn in the crypto market. The company said that it recently held an AI (artificial intelligence) talk concert to celebrate its 10-year milestone.Photo by Andrew Neel on UnsplashPOLA as rewards for sharing knowledge Launched in 2020, POLA tokens are distributed as a reward within its platform, Polaris Share Service, which the company describes as "the distributed trading system of incentive knowledge." Here, users can earn POLA by creating content and sharing knowledge on the platform. Cloud-based document management softwarePolaris Office offers a cloud-based service that allows real-time document editing on various operating systems (OS) including mobile, web office, Windows and Mac. Since the outbreak of the COVID-19 pandemic, the company has experienced significant growth in its sales, recording an all-time high annual sales last year. This growth is attributed to the increased adoption of hybrid work environments.  By consolidated standards, Polaris Office recorded KRW 107.9 billion in sales, KRW 6.2 billion in operating profit and KRW 24.4 billion in net profit, marking YoY increase of 346.1%, 277.1% and 91.2%, respectively.  Joining government-led document AI projectMeanwhile, Polaris Office has been designated as a participatory company in the "SW Computing Industry Source Technology Development Project" led by the Ministry of Science and ICT of Korea, as reported by crypto media CoinNess on April 15. In this project, Polaris Office is expected to contribute to advancing the document AI technology. 

Blockchain Solutions Provider Block Odyssey Launches NFT Ticket Service, “MakeDrop”Korean blockchain solutions startup Block Odyssey said Monday it is launching an NFT-based ticket issuance service dubbed “MakeDrop” in an effort to revolutionize ticketing and event services in the era of Web3.Photo by Andrey Metelev on UnsplashLimitations of traditional digital ticketsUntil now, major ticket reservation platforms have made it challenging for event organizers to streamline the ticketing process for events such as corporate or campus gatherings, concerts, festivals, and more.Event organizers have thus had to manually send notifications via text messages and emails, print paper tickets, and directly manage overall ticket sales and distributions. The absence of tools to identify ticket holders from attendees also makes it difficult to accurately determine participation and contribution ratios.Blockchain meets ticketingBut with the rapid advancement of digitized ticket issuance, NFT tickets have been gaining traction as a transparent and secure solution to such challenges. These tickets are verified and stored on a blockchain, setting them apart from traditional forms of digital tickets such as barcodes.About MakeDropBlock Odyssey’s MakeDrop is an open service that allows anyone to easily create, issue, and manage one-of-a-kind NFT tickets with individual ownership rights and transaction history. If secondary ticket transactions occur, all ownership changes can be verified on the blockchain, making it possible to block attempts at fraudulent or repetitive secondary trading.The service is particularly convenient for users, as they can automatically generate a wallet address for storing their NFTs by logging in to social media accounts without having to install a separate cryptocurrency wallet.As for event organizers, they can swiftly issue mobile tickets without using third-party ticket reservation platforms. Ticket invitations are sent to recipients via KakaoTalk, South Korea’s most popular messaging app, making the service more accessible as well. Those who have not received an invitation can still apply for participation if the event is public. Upon acceptance by the organizer, they will receive an approval notification through KakaoTalk, Block Odyssey explained.Participants can then present the NFT ticket’s QR code on the day of an event, and organizers can conduct real-time validation using the QR check feature provided by MakeDrop.Notably, while traditional ticket reservation platforms often do not share ticket holder information with event organizers, MakeDrop allows independent information management for all events. This allows organizers to identify low-engagement or idle members and offer more benefits to loyal participants.As part of its website launch promotion, MakeDrop is currently holding an event to distribute 100,000 free NFT tickets. The company also plans to release a mobile app in the future after incorporating user feedback and enhancing functionalities.

Korea invites distinguished financial officials to discuss digital moneyThe Bank of Korea (BOK), South Korea’s central bank, announced on Friday (local time) its participation in an international conference focused on the economic impact and future prospects of digital currencies. This event, co-hosted by the BOK, the Ministry of Economy and Finance (MOEF), the Financial Services Commission (FSC), and the International Monetary Fund (IMF), is scheduled to take place in Seoul on Dec. 14 and 15.The conference, titled “Digital Money: Navigating a Changing Financial Landscape,” is set to welcome high-ranking officials such as Kristalina Georgieva, the Managing Director of the IMF; Choo Kyung-ho, the Minister of the Ministry of Economy and Finance (MOEF); Rhee Chang-yong, the Governor of the Bank of Korea (BOK); and Kim So-young, the Vice Chairman of the Financial Services Commission (FSC). This event is particularly significant as it marks the first visit of IMF head Kristalina Georgieva to South Korea.Photo by pan zhen on UnsplashCrypto, stablecoins, CBDCsDuring the conference, MOEF Minister Choo and FSC Vice Chairman Kim will kick off the event with welcome remarks, followed by a keynote speech from IMF’s Managing Director, Kristalina Georgieva. Spanning over two days, the conference will include seven sessions, covering a diverse range of topics. These sessions will delve into various aspects of digital money, such as practical use cases of digital currencies, regulatory approaches to cryptocurrencies, and discussions on stablecoins and central bank digital currencies (CBDCs).The conference will feature prominent financial officials in both its opening and closing sessions. On the first day, Thursday, a distinguished panel, including IMF Chief Georgieva; Stefan Ingves, the former Governor of Sveriges Riksbank; FSC Vice Chairman Kim; David E. Rutter, the Founder of R3; and Shin Hyun-song, the Economic Adviser at the Bank of International Settlements (BIS), will discuss the opportunities and challenges facing digital money.The final session on Friday will see another group of high-level financial authorities sharing their expertise and insights. This session will include BOK Governor Rhee; Eddie Yue, the Chief Executive of the Hong Kong Monetary Authority; Serey Chea, the Governor of the National Bank of Cambodia; and Veerathai Santiprabhob, the former Governor of the Bank of Thailand. Their discussion will focus on regulatory policies surrounding digital currencies.Live-streaming scheduledThe two sessions of this conference will be accessible to a global audience as they will be live-streamed on the BOK’s official YouTube channel. This provides an opportunity for interested individuals from around the world to tune in and gain insights into the evolving landscape of digital money and its regulatory environment.