Incheon City Surveying Residents for Blockchain-Based Public Services

Kiwoom Securities and Koscom Partner to Pilot Security Token Platform Amid Regulatory ChangesKiwoom Securities, a securities firm based in South Korea, has recently taken a step forward by announcing its collaboration through a memorandum of understanding (MOU) with fintech company Koscom. This partnership aims to carry out a pilot program for a security token platform.Photo by Shubham’s Web3 on UnsplashPreparing for regulatory shiftIn light of the expected enactment of a revised bill that will establish a legal framework for security tokens, the two companies have joined forces to work towards creating standardized practices for security tokens. Once this regulatory act comes into effect, fractional investment companies — the entities responsible for issuing security tokens — will have the opportunity to kick-start their operations promptly. This will be possible by utilizing the systems developed by securities firms, also known as account management institutions. The primary objective of this MOU is to define the essential industry standards that will facilitate this process.Combining strengthsWhile Kiwoom Securities benefits from a substantial retail customer base, Koscom brings technological expertise to the table thanks to its four-decade-long track record of constructing the data infrastructure for capital markets. Together, they will work to verify the seamless integration of distributed ledger technology into the operational system of the securities firm.Kiwoom Securities has been making strides in this direction through its partnerships with diverse companies, including music copyright trading platform Musicow and fine arts fractional investment platform Tessa. These collaborations have provided Kiwoom Securities with practical experience and technological insights relevant to security tokens.Hwang Hyun-soon, CEO of Kiwoom Securities, expressed Kiwoom’s commitment to collaborating to ensure that the security token platform developed by both companies evolves into a benchmark platform for the future security token market.Hong Woo-sun, CEO of Koscom, remarked that they expect the agreement to play a role in advancing their security token businesses and developing the Korean security token market.

Korbit hosts its first cryptocurrency investment leagueKorean cryptocurrency exchange Korbit announced yesterday (local time) its inaugural virtual asset investment league, set to begin at midnight between Nov. 26 and 27. This event, a first since Korbit’s establishment, invites any investor with a Korbit account to participate. Interested individuals can join the league by using the mobile app to click on the “Join League” button and consenting to the collection and disclosure of their personal information.Photo by Florian Schmetz on UnsplashRealized returns in Korean wonKorbit’s investment league ranks participants every week, from the start of Monday (00:00) to the end of Sunday (24:00). The ranking is based on the “realized return” in Korean won (KRW), which reflects the profits earned by investors from their cryptocurrency investments. To qualify for the ranking, participants must have made cryptocurrency sales totaling at least KRW 100,000 (approximately $77.4).The exchange will reward the top 100 performers each week in the investment league with KRW points, which can be used for investing in crypto assets on their platform. The first, second and third-place winners will receive KRW 200,000, KRW 100,000 and KRW 50,000, respectively. Additionally, all participants who rank in the top 100 will be awarded KRW 5,000 each.Social trading opportunityThe league offers a great opportunity for social trading, allowing investors to study and emulate the tactics of the market’s top traders. Users can click on the profiles of the top 100 traders to view the three cryptocurrencies those traders engaged with over the week.Moreover, each investor on Korbit will have the ability to monitor their cryptocurrency holdings in real-time. They can also view their total realized return, calculated from the beginning of their trading journey on Korbit up to the present moment, irrespective of the league.Pre-event bonusesTo encourage active participation in the upcoming competition, Korbit launched a pre-event yesterday, scheduled to run until Nov. 26. During this period, the first 10,000 investors who agree to the collection and disclosure of their personal information will instantly receive KRW 1,000. Additionally, the first 1,000 investors who sell crypto assets worth KRW 100,000 or more within the first four weeks following the league’s commencement will be rewarded with an extra KRW 5,000.Commenting on the event, Oh Se-jin, the CEO of Korbit, emphasized that unlike a simulation, this competition involves real investments, offering customers a more authentic and immersive experience. Oh expressed his hope to regularly host such events, aiming to foster a community where investors not only compete for returns but also share information. This approach, he believes, will contribute to cultivating a healthy culture of cryptocurrency investment.

XPLA and PERPLAY join forces to bolster rewarding mechanism to Web3 gamesSouth Korean gaming corporation Com2uS Group’s layer 1 blockchain XPLA has entered a business agreement with the mobile Game and Earn (G&E) platform PERPLAY to boost the sustainability of its ecosystem and take Web3 gaming to new heights, according to an official announcement on Thursday (KST).Photo by ROBIN WORRALL on UnsplashXPLA’s vision“XPLA is a project working towards promoting new levels of fun in Web3 gaming and building an ecosystem based on a fair system of sharing rewards with users,” said Paul Kim, Team Leader at XPLA. “Through this partnership with PERPLAY, we are one step closer to fulfilling our Web3 philosophy, which is centered around the participants in our ecosystem.”Rewards for everyoneThe PERPLAY app runs on a Proof of Play (POP) algorithm that employs a rewarding mechanism that distributes tokens to users based on their game playtime and collection of tiered NFTs. PERPLAY users can earn $XPER and $PER token rewards by playing any mobile game — existing or newly downloaded — that they have registered in the PERPLAY app.XPLA hopes to integrate this algorithm into its ecosystem to add a rewarding layer to various games on its mainnet, offering a unique and elevated gaming experience. The first of these games will be Com2uS Holdings’ popular mobile role-playing game (RPG) The Walking Dead: All-Stars.“We see this partnership with XPLA as an opportunity to further strengthen the PERPLAY user ecosystem,” said Lim Jae-chung, CEO of PERPLAY. “Starting with The Walking Dead: All-Stars, we will bring the PERPLAY experience to various Web3 games on XPLA.”In a related development, XPLA has partnered with Google Cloud, which will serve as a Volunteer Validator for its blockchain protocol. The collaboration with the cloud computing platform is expected to enhance the integrity of the XPLA network.