Bithumb surpasses Upbit in 24h trading volume for first time in four years

South Korea to Revive Tech Exports with Metaverse, BlockchainThe South Korean Ministry of Science and ICT revealed today a strategy to enhance the country’s tech exports. The plan includes leveraging the potential of the metaverse and blockchain as promising export items.Photo by Pixabay on PexelsEmphasis on the digital sectorIn response to the recent decline in exports, the strategy seeks to establish new sources of growth by prioritizing the digital sector, which has historically been a key driver of Korea’s exports. Recognizing the complex challenge posed by the global economic slowdown and other factors, all government ministries are collaborating to counteract the export slowdown.The plan leverages South Korea’s digital capabilities and implements proactive measures to adapt to evolving export trends, including the recent advancement of generative artificial intelligence (AI) tools and the acceleration of digital transformation. By tapping into emerging markets and nurturing innovative companies, the government strives to diversify its export portfolio and strengthen its position in the global market.Despite achieving a record high of $248.8 billion in tech exports in 2022, Korea has faced year-on-year declines since July 2022 due to the global economic downturn. The semiconductor sector, which accounts for more than half of the nation’s tech exports, has been particularly sluggish. Nevertheless, the rise of new tech markets driven by significant technological advancements, such as ChatGPT, and the global push for digital transformation offer opportunities to overcome the current export slump.Emerging marketsAgainst this backdrop, the government is committed to backing the development of products that resonate with the evolving export landscape. It is eyeing emerging markets, notably the Middle East, Southeast Asia, and Latin America, recognizing their fertile grounds for the swift adoption of evolving tech trends, fueled by their substantial youth populations. Furthermore, the government plans to provide policy-level support to tech companies.Government supportUnder this plan, the government will identify promising companies and offer assistance, including consultation and guidance on product commercialization. It will also support metaverse companies participating in overseas projects by covering localization development costs.In the blockchain field, comprehensive support, including technology verification, consulting, and marketing, will be provided to those working towards international standardization for NFTs and their overseas commercialization.As part of this initiative, exhibition rooms will be established on metaverse platforms like ZEPETO and IFLAND in September. These platforms will provide opportunities for innovative firms to showcase their products. At the same time, the plan will facilitate interaction between Korean companies and overseas buyers through online and offline events to boost exports.

BIONES partners with Bithumb Burrito Wallet for integrated service developmentBIONES, the developer of Bio Passport, a blockchain-based medical record and healthcare data management service, announced Wednesday that it has signed a memorandum of understanding (MOU) with Rotonda, the operator of the cryptocurrency wallet Bithumb Burrito Wallet. Burrito Wallet’s services are expected to be integrated into Bio Passport to expand accessibility and grow the blockchain ecosystem.Photo by Julia Zyablova on UnsplashRevolutionizing healthcare with blockchainBio Passport is notable for its blockchain-based features. This includes secure management and storage of personal healthcare information, built on distributed identification technology; a token reward system; and a decentralized application (dApp) service that allows users to contact their healthcare providers remotely, among other functions. The company’s ultimate goal is to provide telemedical services so that patients can receive consultations without having to visit a hospital or clinic in person.Simplifying crypto transactions across the worldLaunched in February, Burrito Wallet’s primary functions include convenient chat-based cryptocurrency transfers and crypto swapping. It is the largest multi-chain wallet in Korea that supports 11 mainnets, including Bitcoin and Ethereum, as well as over 1,000 token currencies.It was also recently launched in Latin America, accelerating its global expansion. Notably, users of the service in this region will have access to on- and off-ramp functions for buying and selling crypto.Strategic collaborationThrough this agreement, BIONES said that it would work with Rotonda in blockchain-related business endeavors and participate in various activities for joint development, such as user acquisition, blockchain ecosystem expansion and marketing projects.“Burrito Wallet has a variety of functions, from storing and managing crypto assets to transfers and swaps. Users can take advantage of increased safety and convenience while enjoying user-friendly wallet services,” BIONES said. “By integrating Burrito Wallet into the Bio Passport app, we aim to make it easier for more users to use our Web3-based dApps, and we plan to expand the blockchain ecosystem to create synergized effects through active marketing and technical cooperation.”

Wemade Leverages Blockchain to Host Professional Women’s Golf Tournament in BusanWemade, a blockchain game company headquartered in South Korea, is gearing up to host a professional women’s golf tournament at the Haeundae Beach Golf and Resort in Busan, the nation’s southern port city. The tournament is scheduled to take place from November 18 to 19.Photo by mk. s on Unsplash1 million WEMIX prize poolThe event, titled the WEMIX Championship 2023, will showcase the top 20 KLPGA Tour golfers in the WEMIX point ranking, along with four invited players. They will vie for a prize pool of 1 million WEMIX, which, as per CoinMarketCap, is trading at $0.5585 at the time of publication. The tournament will be live-streamed through the SBS Golf television channel.The WEMIX point ranking, established in collaboration with SBS Golf, is determined by assessing the performance and results achieved by members of the regular Korea Ladies Professional Golf Association (KLPGA) Tour.NFT tickets and souvenirsDuring this event, Wemade’s DAO and NFT platform, NILE, will showcase non-fungible tokens (NFTs) that represent admission tickets and official souvenirs. These NFTs will be available for purchase on the NILE marketplace starting in October, giving golf enthusiasts the opportunity to acquire them.By integrating blockchain technology into the golf tournament, Wemade is expected to deliver a fresh and innovative experience for both organizers and spectators alike.Furthermore, Wemade aims to increase its investment in the WEMIX Championship, with the goal of enhancing the tournament’s reputation as a prestigious season-ending event.