HashKey & Bosera launch world’s first tokenized money market ETFs

North Gyeongsang Province Recruits Youth for Metaverse Content CompetitionNorth Gyeongsang Province has announced that it is recruiting participants for the Youth Metaverse Content Development Competition, which will provide young people with an opportunity to showcase their ideas and technical skills in the metaverse.Photo by GuerrillaBuzz on UnsplashThe competition is part of the Youth Metaverse Creation Festival, which aims to push young individuals to participate directly in policymaking, prepare for their crucial role in the oncoming metaverse era, and strengthen their digital capabilities.Participation requirementsParticipants are required to complete an assignment in the form of their choice related to fields that the youth are interested in. Young people from high schoolers up to those aged 34 are eligible to participate. Both Korean nationals and foreigners are invited to sign up either individually or as a team.Eight teams will be selected in the first round of document evaluation this month. Afterward, a second round of presentations will take place in October to choose the three final participating teams.Winning rewardsThe first round of selected teams will receive 3 million KRW (approximately $2,300) for their assignment and a head-mounted display, among other benefits. The finalists will not only be awarded 6 million KRW but also be given the chance to participate in various startup support programs throughout North Gyeongsang Province through expert consultations.

Kyrgyzstani President Embraces Hydro-Powered Crypto MiningIn a move that signals the Republic of Kyrgyzstan’s growing interest in cryptocurrency mining, President Sadyr Japarov has given the green light to establish a crypto mining farm at a hydroelectric power plant within the Central Asian country.The ambitious project, set to be built at the Kambar-Ata-2 hydropower plant, has been allocated a budget of up to $20 million, as reported by Kyrgyzstan’s national news agency, Kabar, on Thursday.Photo by Collab Media on PexelsMore efficient use of powerThe primary motivation behind this endeavor is to address energy losses linked to non-utilized power from the Kambar-Ata-2 plant, which has been operational since 2010. According to President Japarov, approximately 6.8 billion kilowatt-hours (kWh) of energy have been wasted due to this issue. By harnessing the excess energy for cryptocurrency mining, the Kyrgyz government aims to optimize resource usage and bolster the country’s budget.President Japarov emphasized that the profits generated from the mining farm would directly benefit the people, particularly the power engineers who are responsible for the plant’s operations. He asserted that the earnings would be meticulously controlled and allocated, with complete automation and oversight.Energy grid challengesHowever, this recent decision appears to contradict the state of emergency announced by President Japarov in Kyrgyzstan’s energy sector on July 24. The emergency status, which will be in effect from August 1, 2023, until December 31, 2026, is attributed to climate challenges, insufficient water inflow into the Naryn River basin, and a lack of generating capacity due to escalating energy consumption.Despite these apparent contradictions, President Japarov affirmed that crypto mining at the hydro plant would be subject to the highest tariff in Kyrgyzstan, amounting to approximately 5 Kyrgyz soms ($0.057) per kW.As early as March 2022, Kyrgyz lawmaker Karim Khanjeza urged the government to legalize the cryptocurrency industry during a parliamentary committee meeting, citing the rapid expansion of the crypto space. Although Kyrgyzstan introduced some regulations for crypto exchanges in 2021, it has not yet enacted specific laws governing cryptocurrencies.The integration of hydro-powered crypto mining presents both opportunities and challenges for Kyrgyzstan. If executed strategically, the venture could harness underutilized energy to boost the national economy and provide benefits to the people.Learning from KazakhstanThat said, the Central Asian country would do well to pay heed to events that unfolded in neighboring Kazakhstan relative to crypto mining over the course of the last few years. Following a major crackdown on crypto mining activity in China, many miners upped and moved their operations to Kazakhstan. That sudden unplanned and unregulated upsurge destabilized the country’s power grid, forcing the government to crack down on mining. It has since regulated the activity in order to accommodate it without it having a detrimental effect on the energy grid.As developments unfold, Kyrgyzstan’s foray into cryptocurrency mining will undoubtedly be closely monitored by industry observers and stakeholders. President Japarov’s vision to distribute the earnings to ordinary citizens brings an element of promise to the project. Crypto mining can be a positive development for the country, leading to more efficient energy use, so long as the authorities plan accordingly.

Conan Korea has launched an open beta service for OceanDrive, a desktop platform that contains a network of decentralized computer storage for users to share and explore their digital assets, according to an article published by South Korean news outlet Asia Times on Monday (KST). In comparison to cloud storage, which is subject to service provider policies, has no reward system, and relies on centralized servers, OceanDrive distributes storage across multiple nodes, is equipped with user-controlled access and encryption, and provides incentives for participation and contribution.Photo by Shubham's Web3 on Unsplash"The blockchain market is currently transitioning from NFTs to decentralized physical infrastructure networks (DePIN), which combines digital currency and physical infrastructure. OceanDrive is a platform optimized for the DePIN paradigm and is now making its market debut after four years in development,” explained Pyo Se-jin, CEO of Conun Korea.  Global collaborationThe project aims to create a vast network of storage resources scattered across the globe, all while providing users with cost efficiency, rewards and opportunities for collaboration and sharing of knowledge.  "We hope that this open beta service will give people a chance to experience OceanDrive’s user-friendly system and recognize its difference from cloud storage," Conun Korea said. "We are currently working on implementing OceanDrive into a popular Korean fashion boutique as well as a major online educational institution."      2024 plansThrough this open beta service, the company plans to build a blockchain network infrastructure platform of the highest quality by overcoming the shortcomings of OceanDrive and maximizing its advantages so it can be used not only domestically, but abroad as well.