Chinese Pull Crypto TV Video Following Binance CEO’s Comments

Dunamu Helps Adolescents Tell the Difference between Blockchain and BitcoinDunamu, the fintech company operating South Korea’s leading crypto exchange Upbit, announced on Thursday that its digital finance education program designed to help foster talent in digital finance amidst the current era of digitization and fintech has come to an end.Photo by Element5 Digital on UnsplashEmpowering digital finance literacy for the future generationDubbed “Duniverse” — a portmanteau of Dunamu and universe — the program was held from May to July for 4,100 middle school students throughout Seoul, Gyeonggi Province, and Incheon. The curriculum proved to enhance their understanding and literacy in digital finance.“Digital finance education for adolescents is essential in addressing various social issues, such as preventing financial accidents and income polarization,” said Lee Sirgoo, CEO of Dunamu.The first Duniverse program was held last year, hosting some 4,800 middle school students in vulnerable areas of Gyeonggi Province. Owing to the positive response, this year’s pool has been expanded to over 7,000 first-year middle school students in Seoul, Gyeonggi Province, and Incheon. In the first half of this year alone, a total of 4,120 students from 17 middle schools participated.The program featured lessons on the technologies of the Fourth Industrial Revolution, such as blockchain, NFTs, and metaverse, as well as basic financial knowledge. A total of eight sessions were led by a team of qualified instructors with years of experience in economic education. Dunamu employees also directly contributed to the review process of educational materials, the company said.Success recognized by students and teachers alikeIn a survey conducted by Dunamu targeting 435 participants, 93.1 percent of them expressed high satisfaction, stating that their understanding of digital finance improved. This portrays a meaningful upgrade from the answers of a previous survey conducted before the start of the program, where six out of ten respondents said that they had little knowledge about digital finance.They also reported that they now understand the difference between digital asset ownership and copyrights as well as blockchain and Bitcoin, and show interest when coming across digital finance-related content in the media.School teachers also praised the program for addressing blind spots in financial education and taking a proactive learning approach. “The students were able to learn about big data, ChatGPT, and more, which is especially valuable since such education for teenagers is still lacking. I believe it will help boost their competitiveness in the future job market,” said a teacher from Goam Middle School in Yangju, Gyeonggi Province.The teachers also approved of other topics that were covered, such as financial fraud prevention, to help teenagers avoid falling victim to financial scams. Suggestions were also made to expand teacher training courses.Upcoming programThis year’s second Duniverse program will be held from August to December for 2,712 middle school students in Seoul, Gyeonggi Province, and Incheon.Dunamu has continually devoted efforts to boosting social welfare and nurturing young talent. This includes “Dunamu Next Steppers,” a hope fund for young people with multiple debts, along with supporting emerging talents and artists with developmental disabilities in their participation in NFT projects.

News emanating from the Central Asian republics of Kyrgyzstan and Kazakhstan in recent days points to further rollout and development of cryptocurrency sector infrastructure. A press release published on March 26 outlined that Kyrgyzstan is working on various initiatives in order to copper-fasten its position as a regional crypto hub. Those efforts include the advancement of digital asset regulation, enabling the launch of licensed crypto platforms and ongoing trials of legal frameworks relative to crypto. Photo by Steve Johnson on UnsplashA7A5 stablecoinOne initiative that may aid in the development of the digital assets sector in Kyrgyzstan is the rollout of the A7A5 stablecoin. A7A5 is pegged to the Russian ruble, with the token having been issued by Kyrgyz company Old Vector. The product was first launched in February, with the intention for it to be used on the A7 cross-border payment platform of Russian state-owned bank Promsvyazbank. Garantex, a Russian crypto exchange which had been sanctioned by U.S. and European authorities and was recently shut down, announced on Feb. 19 the listing of the A7A5 stablecoin. The stablecoin’s backers claim that it was issued “in complete accordance with the new national legislation - under the control of regulatory authorities and directed to an officially registered, regulated broker.” The stablecoin is being promoted on the basis of an annual yield of up to 20%, which has been established due to its link to the refinancing rate of the central bank of the Russian Federation. Kazakhstan crypto bank proposalMeanwhile, lawmakers in Central Asian neighbor Kazakhstan have proposed the creation of a national crypto bank. According to The Times of Central Asia, an English-language daily newspaper, Azat Peruashev, leader of the Ak Zhol political party within Kazakhstan’s lower house of parliament, put forward the proposal, which would implicate the involvement of the National Bank of Kazakhstan and a number of the country’s commercial banks. Peruashev addressed the proposal to Kazakhstani Prime Minister Olzhas Bektenov. However, the Central Asian country may have some fundamental issues to address before a crypto bank can become a reality. Currently, Kazakhstan has yet to establish a legal framework for the use of digital assets.  Last year, the authorities shut down 36 cryptocurrency exchanges which were deemed to have been operating illegally. In total, 3,500 illegal crypto exchanges have been shut down in Kazakhstan. Leading American crypto exchange business Coinbase faced a setback in the Central Asian country in November 2023 when the government cut access to its website within the country. While these crypto businesses have struggled to operate in Kazakhstan, Binance Kazakhstan successfully obtained a trading license from the Astana Financial Services Authority (AFSA) in September of last year. Earlier this month, the company added options trading and futures copy trading to the platform. Blockchain industry pioneer Kyle Chasse took to X to report on this most recent development. He suggested that given that 90% of crypto activity in Kazakhstan is off the books, the authorities are interested in launching a crypto bank so as to bring it all under their control. 

Hyundai Motor Harnesses Blockchain to Double Down on Climate Change EffortsSouth Korean auto giant Hyundai Motor Group is taking significant strides in tackling global climate change concerns by harnessing the power of blockchain technology.Photo by Chris Liverani on UnsplashTracking carbon emissionsToday, Hyundai Motor and Kia, two affiliates of the group, have introduced the Supplier CO2 Emission Monitoring System (SCEMS), a carbon emission tracking solution based on blockchain technology. This system marks a pivotal step towards intensifying their efforts to reduce carbon emissions across their extensive supply chain.The SCEMS is designed to record and manage carbon footprints at every stage of the manufacturing process, starting from the extraction of raw materials to the production and delivery of parts and vehicles. This comprehensive approach allows Hyundai and Kia to gain better control over their carbon reduction initiatives.The urgency of addressing climate change has made it essential for organizations of all sizes to manage and decrease their carbon emissions. However, calculating carbon footprints requires an understanding of complex standards and intricate mathematical processes.Supply chainTo address these challenges, Hyundai Motor and Kia are providing the SCEMS to hundreds of their suppliers free of charge, offering them the necessary tools to effectively curb carbon emissions. The SCEMS employs artificial intelligence modeling, which automatically computes carbon emissions and predicts future projections as suppliers from various industries input their data into the system.Previously, these suppliers had to rely on external experts to perform such calculations. By adopting Hyundai’s new system, suppliers can now independently set their carbon reduction goals and efficiently manage their activities, thereby cutting costs and enhancing their competencies.Incorporating blockchainMoreover, Hyundai Motor and Kia anticipate that the incorporation of blockchain technology into their operations will bolster the reliability of their data, increasing their credibility among global evaluators of environmental, social, and governance (ESG) management.A Hyundai official emphasized that the scope of eco-friendly products now encompasses their entire lifecycles and supply chains. The company aims to lead the charge in building a sustainable and green supply chain.In line with this commitment, Hyundai Motor and Kia in February joined the Carbon Disclosure Project’s (CDP) Supply Chain Program, a nonprofit organization that oversees a global disclosure system for investors, companies, and regions to manage their environmental impacts. As part of this initiative, the Hyundai affiliates have also provided education to their suppliers to aid them in achieving carbon neutrality.Under the CDP’s Supply Chain Program, Hyundai affiliates’ suppliers need to submit data on energy consumption and greenhouse gas emissions, along with carbon neutrality strategies, sustainability objectives, and renewable energy transition plans to the nonprofit organization.