Ethereum Foundation urges South Korea STO rules to open to public blockchains

South Korea should broaden the potential use of public blockchains in its tokenized securities framework, as relying solely on private chains could make interoperability between financial institutions more difficult and limit links to global liquidity, News1 reported from the second Ethereum Korea Policy Seminar held in Seoul on Sept. 8. Adrian Lee, the Ethereum Foundation’s head of Asia-Pacific policy, said South Korea’s STO framework is heavily focused on requiring activity to remain on private blockchains. While Lee said the rationale for that approach is understandable, Lee added there are practical risks that are not always clearly visible and said public blockchains could be one solution. Matthew Dawson, co-founder of Ethereum Institutional, cited JPMorgan as an example of public blockchain adoption. Dawson said JPMorgan built blockchain-based financial infrastructure by developing Quorum, a private blockchain using Ethereum technology, and is now also expanding tokenization efforts in the public Ethereum ecosystem.