Amberdata Expands into Asia-Pacific with New Hong Kong Office

Raon Whitehat Enables College Students to Hone Skills Through MetaverseRaon Whitehat, a blockchain-based service provider of South Korean tech security firm RaonSecure, is set to launch Raon Metademy, a cutting-edge metaverse-powered professional training platform, for universities.Inviting beta testersToday, Raon Whitehat announced the successful completion of the beta version of Raon Metademy, developed in collaboration with edtech company Globepoint. The company is now inviting beta testers from university departments and educational institutions to participate.Interested universities can apply on the Raon Metademy website, with beta testing planned until the end of August. During this period, Raon Whitehat will gather valuable feedback to further enhance the platform. The official launch is scheduled for September 1 to support university classes.Effective remote practicesRaon Metademy boasts a metaverse-based training approach, offering users access to a virtual campus where they can attend lectures and practice essential skills. The platform’s highly immersive user experience allows students to create personalized avatars, explore the campus, access announcements, have a look at training courses, and utilize the training room. With vivid 3D visuals and realistic video-based exercises, students can effectively practice their skills from remote locations.Additionally, users can set up private labs to address their weaknesses, engage in discussions, and build a community similar to a physical campus environment. Among the confirmed beta testers are Chung-Ang University and Seoul Women’s University, and the application window for other institutions will remain open until mid-August. The initial beta service will focus on nursing skills, physical therapy, and security practices, with plans to expand the content to include caregiving practices and more.Photo by Nhia Moua on UnsplashDigital credentials and NFTsRaon Metademy aims to provide certificates of completion and awards of excellence in the form of digital badges, simplifying the process of submitting credentials to universities and other organizations. The platform will also introduce non-fungible tokens (NFTs) to benefit content providers, facilitating secure trading of educational materials among students.Leveraging RaonSecure’s cutting-edge technologies, including blockchain and NFTs, Raon Metademy aims to become a versatile platform open to content providers, educational institutions, and individuals alike. This will enable students to access a diverse range of captivating lessons from anywhere and give lecturers the ability to earn income by delivering high-quality hands-on training with minimal equipment and material costs.

South Korean NFT trading platform Eggverse has signed a strategic business agreement with blockchain gaming platform operator Weracle to target the global market for NFT-linked gaming and expand the ecosystem, according to local news site ZDNet on Thursday (KST). The two firms plan to sketch a business model and implement specific strategies to provide differentiated and more convenient gaming experiences for users by making trading NFTs faster and easier.Photo by Choong Deng Xiang on UnsplashCollaborative expansion"With our years of project experience with leading partners in each field and our in-house technology, we expect to create strong synergies in expanding the global gaming ecosystem of both companies," Eggverse said. "Through this collaboration, we will promote various types of Web3 games in new marketplaces. We expect it will yield the biggest progress among the events we plan to organize in the first half of 2024." Popularizing digital assetsBased in Singapore, Weracle provides a variety of services, including swapping its own governance token, Weracle (WERAC), and Weracle Wallet, which allows users to store and manage game NFTs. Eggverse, on the other hand, is known for its Web3-compatible service that allows customers to mint and resell real-life items like hotel vouchers and artwork as NFTs – the first of its kind in South Korea. Last November, the platform signed a business deal with Asian blockchain hub SPLabs to venture into the Southeast Asian Web3 market.

South Korea Advances Crypto Disclosures Bill for LawmakersThe floor leader of the ruling political party in the South Korean Assembly is urging faster implementation of a new bill that will require Korean politicians and senior government officials to make a declaration of any crypto-related holdings.The bill was already in the works but is now picking up speed, and likely to be brought into effect earlier than expected. That’s according to a local report published by Yonhap news agency. The bill is being finalized against the backdrop of a particularly poignant political controversy.Photo by rawkkim on UnsplashPolitical controversyLawmaker and former Democratic Party of Korea opposition party member Kim Nam-kuk is at the center of a political fuss, and with that, intense scrutiny relative to his interaction with crypto-assets. Kim reportedly held 800,000 WEMIX tokens in early 2022, with a value in the region of 6 billion Korean won (around $4.5 million).Existing legislation provides for a need for Korean politicians to disclose their investments and wealth. However, that provision has not caught up with the digital asset era. Virtual assets had been an exception which lawmakers are now rushing to remedy.Once news of Kim’s crypto holding emerged, it led to suspicion and accusations of insider trading. The politician had made a number of crypto trades during the time in which he was actively working on digital asset legislation. As the controversy gathered more attention, it led to the offices of two of the country’s leading crypto exchanges, Bithumb and Upbit, being raided. Records related to Kim’s crypto trading activity were seized.Bringing forward enforcement dateThe bill that will remedy circumstances like the one that has arisen as a result of Kim’s crypto trading activity is being put forward by Yun Jae-ok, the floor leader of the ruling party. It had originally been scheduled to be implemented in December, but Yun is looking to have the bill amended so that the enforcement date of the proposed legislation takes place in two months.“Given the current high level of public interest, especially regarding lawmakers, it’s not appropriate to enforce the law six months later after the promulgation,” Yun told Yonhap news agency. It’s understood that Yun has asked the leader of the Public Administration Committee to put forward the modified version of the law.The legislative process in South Korea requires initial drafting of the bill, followed by the proposed legislation being scrutinized by a number of relevant committees, inclusive of the Legislation and Judiciary Committee. An assembly debate follows, and beyond that, it’s expected that there will be a vote on the legislation, which has been scheduled for Friday.Should the bill be carried following the vote, the approved bill then proceeds to the President. So long as it is not vetoed, it is presented to the public and becomes law.On an international basis, financial interest disclosure requirements are common. Taking the US and the UK as examples, both jurisdictions require their politicians to disclose financial holdings. However, it would appear that South Korea is about to enact an advanced form of such legislation comparatively, as currently in both the US and UK, there is no specific provision requiring politicians to disclose crypto holdings.