Lotte Data Communication launches NFT donation campaign for children’s rehab center

At the World Trade Organization’s (WTO) 13th Ministerial Conference (MC-13) in Abu Dhabi, a consortium of major global institutions including distributed ledger project IOTA came together to ink a landmark pact aimed at enhancing digital trade, including the tokenization of real-world assets. The agreement, termed the Teaming Agreement, signifies a collective effort to propel digital trade forward, emphasizing the creation of an open, non-profit and inclusive digital infrastructure for trade data sharing. The initiative involves IOTA’s recently-formed Abu Dhabi-based IOTA Ecosystem DLT Foundation.Photo by Belinda Fewings on UnsplashCapital pledgeThe Foundation has pledged an investment of $10 million towards early-stage startups focusing on digital trade and the tokenization of real-world assets (RWAs). These investments, to be unveiled publicly over the next few weeks, will support TradeTech or trade finance technology ventures and provide assistance to startups utilizing IOTA through an accelerator program. The signatories to the Teaming Agreement include esteemed organizations such as the World Economic Forum (WEF), the Institute of Export and International Trade, the Tony Blair Institute for Global Change (TBI), the IOTA Foundation, TradeMark Africa and the Global Alliance for Trade Facilitation (GATF). This collaboration brings together a diverse range of expertise and resources, blending tech and trade proficiency to streamline supply chains and customs procedures. More efficient cross-border tradeThe primary objective of the agreement is to foster collaboration and information sharing across global supply chains, with the aim of reducing barriers and enhancing inclusivity in international trade. By leveraging digital infrastructures, the coalition aims to minimize the time and cost associated with cross-border trade, thus promoting greater participation in global commerce. The timing of this agreement is particularly pertinent, given the multitude of challenges facing global supply chains. Threats such as attacks on shipping routes and the potential rise of protectionist policies underscore the necessity for enhanced information sharing and cooperation across trade networks. Trade Logistics Information Pipeline (TLIP)At the core of this initiative lies the Trade Logistics Information Pipeline (TLIP), a public global trade infrastructure developed by TradeMark Africa in collaboration with the IOTA Foundation. Leveraging open-source technology, TLIP facilitates seamless information exchange in international trade, promoting transparency and inclusivity while empowering participants to retain control over their data. The implementation of TLIP is expected to address challenges such as document loss, information discrepancies and fraud, thereby fostering a more efficient and secure global trade ecosystem. Commenting on the development, IOTA Co-Founder Dominic Schiener stated:"By investing in the future of TradeTech, we are not just facilitating smoother trade transactions; we are laying the groundwork for a more interconnected and efficient global trade ecosystem. Our collaboration with leading organizations through the TLIP is a testament to our commitment to innovation and excellence in this field." In a separate positive development for the IOTA project on Feb. 29, Jelle Millenaar, the co-founder of Impierce Technologies and a former IOTA software engineer, outlined that his company intends to develop a digital identity wallet on top of the IOTA Identity framework. The intention is to build a wallet that is compliant with digital identity regulation within the European Union.

Korean Financial Watchdog: Investor Protection Boosts Crypto MarketLee Bok-hyun, Governor of the South Korean Financial Supervisory Service (FSS), addressed the issue of investor protection measures in the cryptocurrency market during his speech at the fourth Blockchain Leaders’ Club in Seoul. According to a report by local news agency News1, Governor Lee emphasized that these measures would not hinder the market but instead establish a positive cycle by increasing market confidence and driving industry growth.Photo by Joshua Miranda on PexelsCrypto user protectionTo underscore the importance of safeguarding users in the crypto industry, Governor Lee referred to recent incidents such as the collapse of stablecoin Terra and the failures of Silvergate and Silicon Valley Bank. He highlighted how these examples demonstrate the need for protective measures as the influence of the crypto market extends beyond the financial sector and impacts the real economy.Governor Lee further emphasized the FSS’s commitment to maintaining ongoing communication with the crypto industry and adapting the regulatory system to accommodate the changing landscape. He stated that the FSS would assist the industry in establishing its own self-regulatory system, which includes monitoring suspicious transactions and transparent procedures for virtual asset listing. Additionally, the FSS plans to collaborate with industry insiders to prevent misunderstandings when formulating relevant rules and regulations.Governor Lee also touched on the Virtual Asset User Protection Bill, stating that he expects to see the final draft this summer as it is currently undergoing a legislative process in the National Assembly. He highlighted the government’s commitment to improving market order and minimizing investor losses before the law’s implementation. The government is taking a “same risks, same regulation” approach to prevent regulatory arbitrage and establish effective monitoring systems for virtual asset transactions and on-chain data.Unfamiliar but importantMeanwhile, Lee Yong-woo, a member of the opposition Democratic Party of Korea (DPK), echoed the importance of establishing and improving a regulatory framework for the cryptocurrency industry. He drew parallels between the current situation and the dot-com bubble era, emphasizing the significance of not disregarding the potential of the crypto market due to unfamiliarity.Communication channelLawmaker Lee expressed hope that the Blockchain Leaders’ Club would contribute to shaping a stable crypto market by providing opportunities to listen to the opinions of market participants, which can then be reflected in managing and revising laws and regulations.Today’s event, hosted by News1, saw the gathering of lawmakers, government officials, crypto industry leaders, and academics. Among the participants were People Power Party Lawmaker Yun Chang-hyun, the top executives of the five major Korean crypto exchanges (Upbit, Bithumb, Coinone, Korbit, and Gopax), and the CEO of blockchain gaming company Wemade.

Nomura Holdings, Japan's largest brokerage and investment banking company, along with its digital asset arm, Laser Digital, has unveiled a survey indicating a significant shift towards cryptocurrency investment among Japanese investment managers.  54% of investment managers favor cryptoThe survey, conducted in April with over 500 respondents, reveals that 54% of investment managers plan to invest in crypto assets within the next three years, aiming to stabilize their portfolios and mitigate risks through diversification and hedging against inflation. According to the survey, approximately 25% of respondents hold a positive impression of cryptocurrencies, particularly Bitcoin and Ether. Meanwhile, 62% view crypto assets as a viable diversification opportunity. Around half of those that responded indicated an interest in crypto exchange-traded funds (ETFs) while 31% are considering direct investment. This trend follows the Japanese cabinet's February approval of a proposal to include crypto in the list of assets that local investment limited partnerships can acquire or hold. Nomura anticipates a revision to the Limited Partnerships Act later this year to accommodate this change.Photo by Jezael Melgoza on UnsplashNew product development to drive demandThe survey also highlights the primary drivers for future investments in crypto assets. These include the development of a variety of financial products such as exchange-traded funds, investment trusts, staking, lending and other innovative offerings. These developments align with Japanese Prime Minister Fumio Kishida's "new capitalism" economic policy. Within that policy, Kishida outlined that fostering Web3 innovation is a key priority in a keynote address at the WebX conference in Tokyo in 2023. Metaplanet bond issuanceIn a related move, Tokyo-based investment and consulting firm Metaplanet plans to issue 1 billion yen ($6.26 million) worth of bonds to finance its Bitcoin acquisitions. The firm announced on June 24 that its board had approved the bond issuance, with the Bitcoin intended for long-term holding. A separate notice detailed that the bonds would offer an annual rate of 0.5%. Metaplanet appears to be following a business strategy first pioneered by MicroStrategy in the United States. The American business intelligence firm, now focused on Bitcoin development, holds the record for a public company with the most Bitcoin, possessing 226,331 BTC worth $15 billion. It provides an alternative means through which corporations can gain exposure to Bitcoin investment. Metaplanet is likely to fulfill a similar role within the Japanese market, meeting that developing investment need identified among Japanese investment managers in Nomura’s survey. While the Nomura survey findings are largely positive, there were a number of concerns expressed by investment managers also in relation to crypto. Among them were concerns about counterparty risk, regulatory requirements and high asset volatility. However, the report suggests that there is a path through which these concerns can be minimized. The report states: “These hurdles could soon be lowered, as Japan’s digital asset laws and regulations are rapidly being developed, enabling increased engagement from institutional investors in the future.” In December, the Japanese government approved a tax regime revision to exempt corporations from paying tax on unrealized crypto gains if they hold the assets long-term.