Bybit Leans on Innovative Tech by Launching AI-Powered Trading Assistant

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.”

Korea Makes Strides in Establishing the Legal Framework for Security TokensSouth Korea is making significant strides in establishing a legal framework that enables individuals to own and trade fractional shares or portions of real-world assets such as music copyrights, real estate properties, and artworks, through tokenization on blockchain platforms.Photo by Tingey Injury Law Firm on UnsplashAmendments to two actsAccording to a report by local news outlet Newsis, the ruling People Power Party (PPP) and the Financial Services Commission (FSC) are actively involved in proposing amendments to the Electronic Securities Act and the Capital Markets Act to legalize security tokens. These amendments will be presented to the National Assembly this month by PPP lawmaker Yun Chang-hyun, who is also a member of the National Policy Committee.Security tokens, which utilize the capabilities of blockchain technology, will play a pivotal role in this context. Once the legal framework is in place, the issuance and distribution of these tokens will be facilitated.In preparation for the proposal of these amendments, PPP lawmakers conducted a hearing today to discuss the matter at hand. The hearing included a presentation by Lee Soo-young, Head of the FSC’s Capital Markets Division, who shed light on the formulation of security token policies to bolster the capital market. Additionally, Choi Jeong-cheol, Head of the Strategy and Planning Division at Korea Securities Depository, outlined the key points of the proposed amendments to the Electronic Securities Act and the Capital Markets Act. Distinguished attendees at the hearing included Park Sun-young, an economics professor at Dogguk University; Hwang Hyun-il, a financial lawyer at law firm Shin and Kim; and Kim Kap-lae, a senior researcher at the Korea Capital Market Institute.Details in subsequent decreesIt is anticipated that these amendments will incorporate the framework introduced by the FSC in February, which focuses on enabling the issuance and distribution of security tokens, as well as establishing account management organizations and over-the-counter (OTC) brokerages. The forthcoming enforcement decrees, following the amendment of these Acts, will specify the precise details, including the authorization requirements for these entities and investment limits.

Wiziin Earmarks $500K Pre-Seed Funding for Blockchain InvestmentWiziin, a Vietnamese startup specializing in venture investment management, has secured $500,000 in pre-seed funding, which it plans to use to accelerate its efforts in blockchain technology investment.Photo by Peter Nguyen on UnsplashBroad networkAt the heart of Wiziin’s primary objective — to bridge the divide between investors and founders — lies the firm’s blockchain-based platform. The Wiziin platform is specifically tailored to venture investors with a focus on digital assets.Wiziin is headed up by venture capitalist Tien Nguyen and serial entrepreneur Thong Dang. The firm was established in 2020, with a view towards playing a part in what it foresees as a revolution in investment dynamics, particularly within the Asia Pacific (APAC) region. The company’s network encompasses more than 200 investors and an array of over 5,000 raised-fund companies. The company believes that this positions it to become a transformative force in the investment landscape within the region.“The established norms of venture capital funding have long followed conventional methodologies,” commented Thong Dang, Wiziin Co-Founder. “This infusion of funding serves as a catalyst for our ongoing endeavors in emerging blockchain technology, with the ultimate aim of disrupting and revolutionizing the industry. Tokenization of assets and the integration of smart contracts will form the bedrock of our innovative approach to venture capital,” he added.Homerun.clubCentral to Wiziin’s trajectory is the development of an investment platform named “Homerun.club.” This platform is engineered to foster co-investment experiences within blockchain ecosystems for individual investors.Through the elimination of intermediaries, Wiziin is striving to democratize funding access, unleashing global empowerment for entrepreneurs and inviting a more diverse spectrum of investors.The universality of blockchain technology shatters geographical limitations, enabling start-ups like Wiziin to bring investors and entrepreneurs together from every corner of the globe. This holds profound potential for startups and investors situated in expanding markets, and markets that have historically been underserved by conventional approaches to venture capital funding and investment.“While our platform operates within a decentralized framework, the importance of user verification cannot be understated, serving as both a regulatory compliance measure and a safeguard for investor interests,” elaborated Thong Dang.Dang added: “In tandem, we’re actively seeking institutional funding in the upcoming months to further fortify the platform. This strategic step will usher in a collaborative fundraising endeavor between our project and its vibrant community, fostering mutual growth and resounding success.”DAOs and start-up fundingWiziin’s approach is just one element in the ongoing shift towards blockchain-based start-up finance innovation. Many in the crypto space have also put forward DAOs or decentralized autonomous organizations, as an agent for further disruption in this area.DAOs also leverage blockchain technology, and their use can be helpful in cutting conventional venture capital firms out of the enterprise funding process. Furthermore, they can be used to cut through unwieldy regulation relative to start-up funding.With the conventional approach to start-up finance, only accredited investors gain access to early-stage opportunities. Individual investors, regardless of their net worth, can participate in a DAO-based approach to financing. The approach facilitates broader inclusion while having the effect of increasing liquidity as well.