KONKRIT NFT Platform Offers Exclusive Reservation Tickets for Hyundai Card’s Cultural Festival

Hashed Emergent to Host India Blockchain Week 2023 in DecemberHashed Emergent, a subsidiary of South Korean blockchain venture capital Hashed, will host India Blockchain Week (IBW) 2023 at the Sheraton Grand Hotel in Bangalore, India, from December 4 to 10.Hashed Emergent is a venture capital firm specializing in investments in early-stage companies bridging the gap between Web2 and Web3 in India. The firm was established by Hashed, a group dedicated to propelling the global adoption of the Web3 ecosystem. Hashed Emergent seeks to tap into the potential of emerging markets.Photo by Still Pixels on PexelsIndia’s Web3 surgeIndia is exhibiting promise in the Web3 market, driven by its economy, population, and tech advancements. Since 2015, there has been an increase of about sixfold in the number of Web3 startups in the country, with the count reaching 450 as of April 2022. Among them are four unicorns, namely Polygon, FalconX, CoinSwitch, and CoinDCX. Investment in Web3 startups has also seen a rise, with the figure touching $1.3 billion between 2021 and the first quarter of 2022. Furthermore, the Indian government appears to be taking a more accommodating stance towards the Web3 industry.Hashed Emergent is organizing this event for the first time to accelerate the expansion of the Web3 ecosystem in the burgeoning Indian market. IBW2023 is an international multi-chain conference that will delve into Web3 conversations across all industries. It is designed to foster connections between blockchain enterprises in India and abroad, uniting participants from the multifaceted blockchain landscape.Echoing the prominence of notable blockchain events like Singapore’s Token2049 and Korea’s Korea Blockchain Week (KBW), IBW2023 is expected to attract blockchain enthusiasts from around the world who are eager to see firsthand the evolving potential of India’s Web3 market.Flagship IBW’23 ConferenceThe flagship event, “IBW’23 Conference,” is set for December 6 to 7 and will spotlight five pivotal themes. Discussions will delve into the latest technical advancements in the blockchain realm, the role of Web3 in emerging markets, how global regulations will shape the blockchain sector, the prospects for Web3 in India, and the opportunities and hurdles facing Web3 expansion.About 120 prominent figures from the Web3 space are set to grace the event as speakers. They include Mo Shaikh, CEO of layer 1 blockchain developer Aptos Labs; Emin Gün Sirer, CEO of Avalanche blockchain builder Ava Labs; Sebastien Borget, co-founder of metaverse platform The Sandbox; and Simon Seojoon Kim, CEO of Hashed. Furthermore, the blockchain hackathon, ETH INDIA, is poised to attract over 1,500 developers, all geared to create the decentralized future of Ethereum.Tak Lee, CEO of Hashed Emergent, highlighted that India has been gaining traction as a major player in the blockchain industry. He shared that both Hashed and Hashed Emergent have been keenly observing the potential of the Indian Web3 market since early 2020. They are dedicated to ensuring IBW2023’s success, envisioning it as the first step towards the explosive growth of the Indian Web3 ecosystem.Meanwhile, Hashed Emergent is currently managing its first fund, Hashed Emergent Fund I, which has raised $20 million to date in multiple closings. In its first year and a half, the fund has invested in 28 portfolio companies, many of which have Indian founders. Major portfolio companies include Web3 game discovery and wallet app Glip, Web3 native incubator BuidlersTribe, and African web3 startup Nestcoin.

Seychelles-based crypto exchange OKX’s Web3 wallet service, OKX Wallet, has begun supporting Wemade’s blockchain network WEMIX3.0, according to an announcement on Friday (KST). This development will allow OKX Wallet holders to directly manage the crypto assets that they hold from the WEMIX3.0 ecosystem. Photo by GuerrillaBuzz on UnsplashSeamless access and versatile Web3 servicesOKX Wallet notably supports over 70 networks and 3,000 cryptocurrencies and provides other wide-ranging Web3 services like NFT trading, crypto swaps and a decentralized finance (DeFi) platform. In particular, it also has a hassle-free recovery process for account access that employs Multi-Party Computation (MPC) technology, effectively eliminating the need for traditional recovery methods like seed phrases.  OKX Wallet and WEMIX3.0 also vowed to work on more integrations and joint campaigns in the future to round up a larger global user base and lead the era of Web3.  A rising force in cryptoIn other news, WEMIX3.0’s governance token, WEMIX, has been making a significant impact in the crypto industry. The asset ranked ninth in CoinMarketCap’s list of largest blockchains in crypto ranked by total value locked (TVL) last month, and it possessed the largest constituent weight in terms of market capitalization in the gaming sector in the latest Crypto Sector Indices released by Sygnum, a global digital asset banking group headquartered in Switzerland and Singapore. 

Vietnam moved ahead with its digital asset strategy on Jan. 20, as the Ministry of Finance opened applications for crypto exchange operators. The step puts the government’s broader regulatory framework into effect, allowing qualified firms to apply for approval to operate trading platforms.Photo by Jakub Żerdzicki on UnsplashDecision No. 96/QD-BTC of the Finance Ministry establishes three administrative procedures governing the sector, The Investor reported. The rules set out processes for issuing operating licenses, handling changes to existing permits, and revoking authorization from firms that fail to comply. 10 banks and brokerages signal interestAbout 10 securities firms and banks have already indicated plans to take part. The institutions are preparing to file applications in a bid to become the country’s first licensed crypto operators under the new rules. The groundwork for this week’s licensing phase was laid last June, when the government moved to legalize digital assets, paving the way for their formal recognition as an asset class on New Year’s Day. The shift was put into practice in September with the launch of a strict five-year pilot program aimed at keeping the emerging market under close monetary oversight. Under the pilot, all crypto transactions must be carried out exclusively in Vietnamese dong. Companies seeking to be licensed as crypto exchange operators must show two years of profits and at least 10 trillion dong ($380 million) in capital. The rules favor domestic players, allowing only Vietnam-registered firms to issue cryptocurrencies and requiring foreign investors to enter the market through ministry-licensed intermediaries. G-Group teams up with TetherThe regulatory push comes as private sector deal-making accelerates. Earlier this month, Hanoi-based tech firm G-Group signed a memorandum of understanding (MOU) with stablecoin issuer Tether to share technical expertise and international best practices, according to another report by The Investor. The agreement followed an October meeting between Deputy Prime Minister Ho Duc Phoc and Tether executive Marco Dal Lago. Dal Lago said the company was eager to work with Vietnamese partners to help develop the country’s crypto market. G-Group has also moved to build out its domestic infrastructure, collaborating with blockchain ecosystem Ninety Eight to form a joint venture. The new company, G98 Digital Asset JSC, will develop compliant crypto products, offer end-to-end blockchain services such as custody, and integrate those solutions into corporate systems. At the institutional level, Vietnam has also partnered with South Korea. In August, Military Bank, one of the nation’s five largest lenders and a subsidiary of the Ministry of National Defence, signed an agreement with Dunamu, the operator of South Korea’s largest crypto exchange, Upbit. The partnership is designed to support upgrades to Vietnam’s financial system, with Dunamu providing expertise on exchange operations, regulation, and investor protection.