OKX scores payment institution license in Singapore

Com2uS Holdings subsidiary Com2uS Platform has acquired a certificate of Personal Information and Information Security Management System (ISMS-P), an official certificate distributed by the Korea Internet and Security Agency (KISA), for its blockchain-based game development platform Hive.Photo by Towfiqu barbhuiya on UnsplashStreamlining game developmentHive allows developers to focus on content development by providing functions for game launch and operation in a single software development kit (SDK). It covers all systems needed to run a game, including billing, gameplay across multiple platforms, global login and verification, compliance, support, analytics, promotions, push notifications, community management and blockchain middleware. It is utilized in over 150 games and 41 corporate clients with some 100 million annual users. Robust security measuresTo receive the ISMS-P certification, companies are evaluated based on 101 different criteria, including organizational structure, management of employees and facilities, security of information processing systems and more areas related to handling personal information. "Com2uS Platform and Hive have established and promoted world-class security policies," said Choi Seok-won, CEO of Com2uS Platform. "We will continue to do our best to create an environment where users and customers worldwide can safely enjoy our content." Com2uS Platform also revealed that it runs an office dedicated to information protection, which manages data from Com2uS games and external clients. The company also strives to improve its technological capabilities for enhancing security and conducts annual company-wide training for all employees to raise security awareness. Since 2017, Com2uS Platform has retained its ISMS certification – similar to the ISMS-P but without personal information security standards – to safeguard the information of its users and customers.  

South Korea Launches Blockchain Project to Streamline Public ServicesThe South Korean Ministry of Science and ICT and the Korea Internet and Security Agency (KISA) have launched the 2023 blockchain application project to bolster the domestic industry and adapt to the rapidly evolving global blockchain landscape.Photo by Ping Onganankun on Unsplash$1.6 million projectAs part of the Korean government’s broader strategy to promote the blockchain industry, the project has received a budget of approximately 20.7 billion KRW ($1.6 million). The project participants are focused on exploring blockchain-based services that offer convenience to the public and have the potential to penetrate the global market. The digitization of drivers’ licenses is such a service that has been developed and has simplified the lives of Korean citizens.The project encompasses both the public and private sectors, each undertaking six programs. The public sector programs aim to explore blockchain-based services that the government can provide, while the private sector programs are dedicated to supporting the commercialization of business prototypes developed by companies.Public sector programsThe six public sector programs are the implementation of digital badges for national licenses, the development of an online voting system for residents, the establishment of a remote pension eligibility check system, the enhancement of the electronic authentication system, the streamlining of drone operation applications, and the creation of a performance tracking platform for athletes.For instance, the implementation of digital badges for national licenses will greatly streamline the process for individuals who need to present their licenses to relevant organizations as a means of verifying their credentials. Presently, license holders are required to physically visit issuers or navigate their websites to gather the necessary documentation. However, the introduction of this new technology eliminates the need for this cumbersome process.Private sector programsMeanwhile, the private sector programs focus on developing the following six platforms: the battery life authentication system for electric vehicles (EVs), the oil waste trading platform, the non-fungible token (NFT) issuer for digital identity authentication, the NFT concert ticket system, the fractional investment platform for power plants, and the corporate management planner for environmental, social, and governance (ESG) initiatives.For example, the introduction of a blockchain-based certificate system to assess the remaining life of EV batteries holds significant implications for both car insurance and the trading of used cars. Currently, the lack of comprehensive data to evaluate the exact value of EV batteries poses challenges to the efficient trade of both used cars and batteries. Establishing this certificate platform will not only promote battery recycling but also positively impact the industry as a whole.

Parachain Fork Sees Transition to Enjin BlockchainEnjin, a Singapore-headquartered non-fungible token (NFT) platform, has announced its transition to a new mainnet named Enjin Blockchain, with the goal of further advancing Web3 adoption. As part of this transition, Enjin has forked its Polkadot parachain, Efinity, to the new blockchain.The project made the announcement via a blog post published to its website on Thursday.Photo by Shubham Dhage on UnsplashIntegrated functionalityAccording to the team at Enjin, the Enjin Blockchain distinguishes itself from other blockchain solutions by integrating functions such as NFT creation and transfer directly into the foundational code of the blockchain, eliminating the reliance on smart contracts. This integration aims to streamline and simplify the process of creating and transferring NFTs.In addition to this fundamental change, the Enjin Blockchain introduces several new features. One notable feature is “Fuel Tanks,” which enables developers to subsidize user transaction fees, making it more cost-effective for users to interact with the blockchain. Another feature is “Discrete Accounts,” which allows users to engage with blockchain-based projects without the need to download specific wallet software.Fork to Efinity MatrixchainAlongside the transition to the Enjin Blockchain, the team has also forked Efinity, the Polkadot parachain, to the new mainnet. This rebranded version will be known as the Efinity Matrixchain and will facilitate a smooth transition for existing users.Witek Radomski, the Co-Founder and Chief Technology Officer of Enjin, emphasized that the launch of the Enjin Blockchain aims to support creativity by making the creation and distribution of NFTs more accessible and affordable. Radomski stated: “Enjin Blockchain makes the creation and mass distribution of NFTs affordable and accessible to everyone. Our aim is nothing short of revolutionizing gaming, ownership, and online identity.”Enjin’s chief financial officer, Oscar Franklin Tan, expressed his belief that NFTs and digital ownership will be pivotal in the future of gaming, particularly with advancements in artificial intelligence, augmented reality, and virtual reality. Tan emphasized Enjin’s commitment to supporting this next wave of gaming and the resulting “explosion of content.”Enjin believes that it sets itself apart from the competition due to the fact that it’s built on top of the open-source Substrate framework, a mechanism that facilitates the development of customized blockchains that may be run on an entirely autonomous basis.Using this unique approach, Enjin Blockchain doesn’t depend upon the use of smart contracts. Instead, critical functions such as creating, using, and transferring NFTs are integrated directly into the core, foundational blockchain code.NFT lending stabilityIn related news, the stability of NFT lending has been aided by the use of blue-chip collateral. Paraspace, an NFT protocol, recently reported that despite facilitating NFT loans totaling over $280 million, it experienced no bad debt and only 16 NFT liquidations. This success can be attributed to the protocol’s requirement that only blue-chip NFTs can be used as collateral, ensuring the value and stability of the assets involved.As Enjin embraces its new mainnet and the Efinity Matrixchain, the platform positions itself as a key player in the evolving NFT and blockchain landscape. With a focus on accessibility, affordability, and the support of creative endeavors, Enjin aims to drive innovation in gaming, ownership, and online identity.