Netmarble’s Blockchain Platform Plans Tokenomics Overhaul for MBX Token

South Korea’s southeastern port city of Busan signed a memorandum of understanding (MOU) on Wednesday with the BDX Consortium led by ITCEN GROUP, a Seoul-based tech company specializing in system integrations. This marks the beginning of the establishment of the Busan Digital Asset Exchange (BDX). Photo by Minku Kang on UnsplashPlans to establish BDX CorporationFollowing the MOU signing, Busan and the BDX Consortium plan to join forces to set up and operate BDX successfully. The two entities are also dedicated to swiftly establishing a private entity, “BDX Corporation,” within the blockchain regulation-free zone in Busan, as part of their ambitious plan to make Busan into a global blockchain hub.  ITCEN GROUP is known to have extensive experience in trading real-world assets (RWAs) such as gold, silver and copper. Other participants of the BDX Consortium include Hana Securities, Hana Bank, OCON and Barunson, who are set to provide RWAs and intellectual properties (IP) to BDX in cooperation with ITCEN GROUP. Following the founding of BDX Corporation, the BDX Consortium is required to provide investment capital to the city of Busan until April, in accordance with its business plan.  A blockchain exchange with its own mainnet based on decentralized governanceThe decentralized governance upon which BDX will operate is an independent framework capable of handling securities settlements, listing assessments and market monitoring. It also serves as an investor protection measure through its mutual check and balance system.  BDX plans to support 24/7 transactions of various assets including commodities, jewelry, IP and carbon credit, all of which will be tokenized into small units for convenient trade.  “This partnership lays the foundation for the BDX launch, which will serve as a cornerstone of the city’s plan to foster the blockchain industry. In close cooperation with local enterprises, Busan will do its best to build and operate the exchange and contribute to the city’s economic growth,” stated Park Hyeong-joon, the mayor of Busan. 

LG CNS to leverage blockchain for digital transformation in New York CityLG CNS, a technological arm of the South Korean conglomerate LG Group, has signed a memorandum of understanding (MOU) with New York City and the American Chamber of Commerce in Korea (AMCHAM Korea). This agreement, signed at New York City Hall, focuses on collaboration for digital transformation, also popularly referred to as DX. Among those present at the signing were NYC Mayor Eric Adams, LG CNS’ CEO Hyun Shin-gyoon and AMCHAM Korea’s CEO James Kim.Photo by Emiliano Bar on UnsplashStudent internship and M/WBE supportUnder the MOU, the three entities will forge a technology partnership, focusing on the implementation of cutting-edge DX technologies like artificial intelligence (AI), digital twins, the Internet of Things (IoT) and blockchain in the city. Additionally, they’ll provide internship programs for college students and extend support to NYC’s Minority and Women-owned Business Enterprises (M/WBE).Expansion in North AmericaThe partnership is expected to position LG CNS for broader expansion in North America, particularly in smart city infrastructure, electronic government and cloud computing. After in-depth discussions with NYC and AMCHAM Korea, the Korean tech company will also consider establishing a local branch in New York City. This move aims to reinforce LG CNS’s collaboration with the two partners.Mayor Adams remarked on the collaborative effort, stating that the MOU signifies an important step forward as it will offer outstanding training and opportunities for residents across all five boroughs of the city. He also expressed his anticipation about welcoming LG CNS to New York City.Meanwhile, CEO Hyun highlighted that LG CNS plans to leverage this strategic partnership to support the sustainable growth of New York City by utilizing innovative DX technology.

Korbit and SK Planet Team Up to Promote NFT Membership ProgramKorbit, one of South Korea’s prominent cryptocurrency exchanges, has teamed up with SK Planet, a technology affiliate of the major conglomerate SK Group, in an effort to attract new users to Road to Rich, a non-fungible token (NFT) membership program.Photo by Mo on UnsplashWin up to 0.1 BTCUnder this collaboration, Korbit users will have the opportunity to win up to 0.1 BTC by completing assigned tasks. From those participating, 511 fortunate individuals will be selected as winners. The breakdown of prizes is as follows: 500 participants will earn 0.001 BTC each as third place winners; 10 second place winners will receive 0.01 BTC each; and the single top winner will be awarded the grand prize of 0.1 BTC.Quests, rewards, and rabbit NFTsRoad to Rich was introduced earlier this month by OK Cashbag, a popular customer rewards system offered by SK Planet. Road to Rich offers users daily quests involving rabbit character NFTs. Successful completion of these tasks allows users to gain various benefits, such as OK Cashbag points, which can be used at hypermarkets, restaurant chains, and other partner businesses. To participate in Road to Rich, users need to install the UPTN Station, a decentralized wallet developed by SK Planet, which allows storage, retrieval, and transfer of NFTs.According to a report by local news outlet Newspim, Oh Se-jin, CEO of Korbit, expressed the crypto exchange’s excitement about participating in the expansion of SK Planet’s Web3 ecosystem. Oh said that Korbit is committed to collaborating with SK Planet to deliver more convenient and valuable services to customers in the Web3 space.