Playbux to introduce new funding mechanism instead of ICO

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.

GroundX to Bring NFT Activities to 2023 Seoul Light Hangang Bitseom FestivalGroundX, the blockchain subsidiary of South Korean conglomerate Kakao, said Tuesday that it will host NFT-related activities at Seoul’s largest laser art festival, the 2023 Seoul Light Hangang Bitseom Festival, from October 6 to 15 in collaboration with the Seoul Metropolitan Government and other affiliates like LG Uplus and the Seoul Foundation for Arts and Culture.Photo by Wes Hicks on UnsplashMerging physical activity, learning, and artThe activities will fall under the theme of “3L”: Light Run, Laser Art, and Lecture. Light Run is a four-kilometer running course scheduled for October 6 and 14, for which GroundX will mint NFT certificates for participants who complete the course. The NFTs will contain information about the participant, as well as the date of the event and a record of completion. They will then automatically be sent to and stored in the participant’s Klip wallet, GroundX’s digital wallet service, and can be accessed at any time on the Klip app and KakaoTalk Wallet.GroundX said that it will also showcase digital artworks by eight artists, including Kim Duk-ki, Han Seung-ku, and Berry Kim. These works will be displayed on LED platforms installed at the Banpo and Ichon Hangang Parks.Kim Tae-keun, Head of Business at GroundX, is set to participate as a lecturer for the Bitseom Lecture segment on October 8, where he will discuss NFT art and the company’s vision for the media art industry. Bitseom Lecture is an outdoor art convergence lecture program that introduces immersive media artworks and technology in virtual reality (VR) and extended reality (XR).Bringing the NFT experience to Seoul“We hope that citizens visiting the Bitseom Festival will be able to get the real NFT experience through our media art displays, lectures, and running course completion certificates,” GroundX said. “We will continue to collaborate with various organizations and create NFT use cases through participation in offline festivals and events.”

Amid the ongoing cryptocurrency market slowdown, a South Korean analyst said a rebound will hinge on effective policy measures and sustainable business models.Photo by Kanchanara on UnsplashAnalyst urges policy and profitabilityAccording to an analysis by iM Securities researcher Yang Hyun-kyung, cited by local outlet Etoday, the current downturn stems from several factors: a liquidity crunch in short-term funding markets, a strengthening U.S. dollar, rising risk aversion, and a prevailing narrative of a cyclical correction. Yang noted that a strong dollar typically drains market momentum, as tighter global liquidity prompts investors to deleverage and reduce exposure to risk assets. He added that growing uncertainty over potential U.S. rate cuts in December has further fueled risk aversion among institutional investors, putting selling pressure on both major cryptocurrencies and altcoins. While the expected resolution of the U.S. government shutdown may create a more favorable environment for a modest technical rebound, Yang argued that the crypto sector still needs to develop profitable business models and gain growth momentum through supportive policy measures. Brokerage frames crypto as diversifierDespite the current headwinds, another Korean brokerage firm released a quarterly report framing digital tokens as an emerging alternative asset class. According to Etoday, Hanwha Investment & Securities CEO Jang Byung-ho wrote in the report that the primary goal of retail investment is to preserve purchasing power. He drew a parallel to the U.S. market in the 1980s, when bond investors would have seen their returns erode had they failed to recognize equities as a viable investment vehicle. Citing that lesson, Jang suggested investors consider digital assets as a new pillar for portfolio diversification. Diverging approaches from global central banksThese evolving viewpoints on crypto come against a complex global macroeconomic backdrop. From one perspective, the People’s Bank of China (PBOC) has begun quantitative easing (QE). Otavio Costa, a macro strategist at Crescat Capital, shared a chart on X showing that the value of the PBOC’s balance sheet assets is on track to surpass that of the U.S. Federal Reserve. Costa predicted the Fed would soon follow suit, stressing that investors are underexposed to hard assets. This potential easing contrasts with speculation that the Bank of Japan (BOJ) may raise interest rates next month. One BOJ board member noted at a recent policy meeting that most conditions for a hike have already been met and added that a move is likely once wage negotiations scheduled for spring point to sustained pay growth, as long as the global economy avoids major disruptions. These diverging policy directions have mixed implications for the crypto market. Typically, dovish measures like QE are seen as supportive, as increased liquidity tends to boost risk appetite. Rate hikes, by contrast, withdraw liquidity from the system, limiting the upside for risk assets like digital tokens. As economic conditions evolve and the industry adapts, investors will be watching closely to see how these shifts shape the market’s next moves.