Seoul Labs to build layer 2 blockchain mainnet using SASEUL

LH Leverages Blockchain to Certify Legally Important DocumentsThe Korea Land and Housing Corporation (LH) is set to build a certification platform to replace paper documents as the sole form of legal certification. The initiative aims to bring the credibility of traditional methods like contents-certified mail to electronic documents by leveraging blockchain technology.Photo by Liam Truong on UnsplashContents-certified mail — transitioning from postal to digitalContents-certified mail refers to a specific type of mail service provided by the post office, which offers special guarantees regarding the delivery and content of a document. When a document is sent using contents-certified mail, the post office provides certain assurances that can be beneficial in legal and official contexts.Amidst the rise in demand for digital administrative services due to increased remote technologies in the post-COVID-19 era, the ongoing expansion of Web3, and enhanced customized administration, there has also been a growing need for the digitization of documents related to compensation for land and buildings.According to industry sources, LH plans to automate document transmission and management functions through the platform, establishing a digital environment for generating, sending, receiving, viewing, and storing electronic documents.Factoring in blockchain techA key feature of the proof platform is its integrated blockchain technology. “Utilizing blockchain allows accurate documentation of LH as the sender, as well as the timestamps of delivery and reception. This will subsequently enhance transparency and security,” LH said.Going paperlessBy establishing the digital platform, LH will be able to introduce a more convenient method of sending legally significant documents, essentially replacing the manual method of sending them through postal services. This could include sending them via platforms used nationwide like Naver or KakaoTalk or through text messages sent by the country’s major telecommunication companies.This innovation can contribute to the proliferation of paperless methods, addressing the expected increase in postal delivery failures tied to the rise of single-person households.“By constructing this platform, we can better protect user rights and provide administrative services that transcend the temporal and spatial constraints of registered mail,” LH said. “We will broaden our legal, institutional, and technical discussions to innovate processes for verifying the validity of electronic documents.”The project is currently in operation in certain areas related to compensation. According to LH, the plan is to expand the project’s scope to encompass all areas of compensation by next year and then to other areas such as the management and sale of rental apartments.The corporation said that it posted a bidding notice last Wednesday to hire a company that can build the blockchain-powered platform that certifies legally important documents. LH is currently undergoing a selection process.Employing smart contractsLH also mentioned that it is preparing a smart contract system. The system programs the terms agreed upon by involved parties in advance, embeds them in an electronic contract, and enables automatic execution of the terms of the contract when all conditions are met.

Hong Kong-based blockchain gaming and venture capital firm Animoca Brands has revealed a positive set of financial results in a recently published report.  In an investor update published to its website on March 5, the firm revealed key unaudited financials and business highlights for Q4 2024 and the previous 12 months ending on Dec. 31, 2024. Whereas other sectors report actual revenue figures, the gaming sector relies upon “bookings,” a measure of total sales and income generating activity of the company. The firm reported bookings of $314 million for last year. Compared with 2023, when Animoca reported bookings of $280 million, the firm has achieved a year-on-year increase of 12%.Photo by Lukas on PexelsAdvisory business growthThe company broke that financial measure down further, indicating that of the $314 million in sales and other income-generating activity, its Digital Asset Advisory (DAA) business accounted for $165 million of the overall amount. This disclosure is notable given that it represents a 116% increase, demonstrating a considerable growth in the firm’s advisory business and a diversification of its revenue streams. Animoca’s DAA business offers Web3 projects access to token advisory, and more specifically, consultation regarding tokenomics, marketing and listing. The business also consults in relation to node operation and trading services. Given that the company reported that bookings related to Web3 businesses weighed in at $110 million, Animoca’s advisory business has overtaken the contribution made by its Web3 businesses.  Contributing Web3 businessesAmong the Web3 businesses that made the greatest contributions were The Sandbox, Moca Network, Anichess, Gamee, nWay, Open Campus, TinyTap, Animoca Brands Japan, Eden Games, Blowfish Studios, Pixowl and Crazy Defense Heroes (TOWER). Bookings also included revenue generated via portfolio investments and partnerships. The company recorded $39 million, achieved through investment activities. In discussion with Cointelegraph, Animoca Brands co-founder and executive chairman, Yat Siu, said that the positive bookings numbers were a consequence of the firm’s ongoing efforts to innovate. He stated: “In 2024, we placed less emphasis on the US market, owing to various regulatory struggles experienced by other companies, and we also became more focused on providing support to the companies in our portfolio.” Animoca’s balance sheet holdings were robust in 2024, with $293 million in stablecoins and cash and $538 million in digital assets. Additionally, $538 million in off-balance sheet token reserves was reported. Stablecoin initiativeThe firm has developed a particular interest in the stablecoin sector through a partnership with British multinational financial services firm Standard Chartered and telecommunications firm HKT. That initiative involves the formation of a joint venture company which will go forward to issue a Hong Kong dollar (HKD)-backed stablecoin once a license has been secured from the Hong Kong Monetary Authority (HKMA). Siu identified real-world asset (RWA) tokenization as another growth area for the company. The Animoca Brands co-founder outlined that he expects the firm to record further growth as 2025 progresses. Notwithstanding that, he warned that such expectations may be affected by adverse economic developments and risks, including the tariffs policy being pursued by U.S. President Donald Trump. 

dtcpay forges strategic partnership in launch of crypto payments systemSingapore-based dtcpay has announced a collaboration with Singaporean data-sharing platform PlatON and Chinese payments firm Allinpay International, marking the imminent launch of a digital currency payments system.Photo by Jonathan Borba on PexelsPOS terminal crypto paymentsThe trio is set to unveil a cutting-edge digital currency payment system, leveraging smart point of sale (POS) terminals supporting a range of currencies, including USDT, ETH and BTC. The primary goal of this partnership is to broaden the reach of digital payments, providing global users with faster, more cost-efficient and secure payment experiences.The overarching objective of the collaboration is to empower partners and merchants to seamlessly accept payments in both fiat and digital currencies. By doing so, dtcpay, PlatON and Allinpay International aim to enhance operational efficiency, broaden business outreach and capture the attention of a younger customer base.Officials emphasize that this venture aligns with dtcpay’s commitment to delivering secure and efficient digital payment solutions while diversifying its service offering. A spokesperson for Tonghua International, Allinpay International’s parent company, stated:“We are very pleased to cooperate with industry leaders, PlatON and dtcpay. This cooperation will not only promote the development of digital currency payments but also help merchants better adapt to the modern payment trend and meet the needs of young consumers.”A collaboration that relies on core competenciesThe collaborative effort capitalizes on the strengths of each entity. dtcpay facilitates swift and secure digital and fiat currency exchange. PlatON contributes advanced privacy computing technology for robust technical infrastructure, while Allinpay International provides smart terminals and online aggregate payment interfaces, eliminating entry barriers relative to Web3 payments.In addition to driving advancements in digital currency payments, Allinpay International seeks to support merchants in adapting to modern payment trends and meeting the preferences of younger customers. dtcpay’s comprehensive suite of services includes multi-currency swaps, online checkouts and in-store POS solutions, positioning the company as a one-stop solution for merchants embracing the future of payments.Founded in 2019 in Singapore, dtcpay operates as a regulated payment service provider licensed by the Major Payment Institution (MPI) under the Monetary Authority of Singapore (MAS).The company struck up a similar partnership in September, bringing crypto payments to the POS system of Jeripay, which has a network of 8,000 terminals in Singapore. In an interview earlier this year, the firm’s CEO Kanny Lee outlined that dtcpay had targeted Hong Kong and Dubai as markets in which the company plans to expand.Sumsub partnershipThe collaboration’s momentum was further solidified at the end of September 2023 when dtcpay partnered with Sumsub, a global full-cycle verification platform. This partnership aimed to enhance the security and reliability of digital currency payments in target markets such as Singapore, Hong Kong, Dubai, the UK and Europe. Sumsub integrated its electronic Know Your Customer (e-KYC) service into dtcpay’s wallet platform, streamlining the onboarding process for customers engaging in transactions through the platform.PlatON is an open financial infrastructure that features verifiable and privacy-preserving computation. It will endeavor to bring financial-level system stability and compliant digital asset management to the collaboration. Allinpay is a global financial payment company focused on providing diverse payment solutions while enhancing digital financial technology services globally.