Turkish lira becomes third largest fiat currency in crypto trading

Sam Altman’s iris-scanning project Worldcoin (WLD) has resumed its service in South Korea following two months of suspended operation, according to Digital Today. The project utilizes a device dubbed “Orbs” to collect personal biometric data from users who agreed to have their iris scanned by the machine.  The service was suspended after a number of complaints were filed against Worldcoin in February for its data collection practices. In the following development, Korea’s Personal Information Protection Committee (PIPC) launched an investigation into Worldcoin to examine if any local privacy law has been violated by Worldcoin. This led to suspension of six Orbs installed in several areas in Seoul, including Yeouido and Yeoksam areas.  While these Orbs have resumed operations, the investigation is still underway. The South Korean regulators are yet to decide what legal measures to take regarding Worldcoin, according to the press. Photo by Amanda Dalbjörn on UnsplashProof of personhood: Crypto tokens for simply being human Meanwhile, Worldcoin argues that it is impossible to identify an individual person by solely relying on the iris bio-data. It claims that the data will be only used in providing “proof of personhood” to distinguish humans from artificial intelligence (AI). The project aims to offer its WLD token to users “simply for being human” as universal basic income, whose jobs will be potentially replaced by artificial general intelligence (AGI) in the future.  A Worldcoin official added that the project has addressed potential privacy concerns by eliminating data custody processes and allowing users to remove their sensitive data at will. However, major countries including France and Spain have issued orders to suspend Worldcoin’s operation within their jurisdictions, citing risks involving personal data tracking and breaches.  A PIPC official stated that the government authority will continue the investigation and take further action in line with the Personal Information Protection Act.  

Korean Crypto Exchanges Promote Horizontal Cultures to Attract Job SeekersDuring a recent seminar organized by the ruling People Power Party’s Digital Asset Committee, Korean crypto exchanges emphasized the importance of horizontal corporate cultures to attract job seekers, according to a Daily Hankook report.©Pexels/Anna TarazevichThe event was attended by employees from various fintech companies and banks, including Naver Financial, Finda, KakaoBank, and Kbank.DunamuBae Jin-hee, a recruiting manager at Dunamu, the operator of Korean crypto exchange Upbit, spoke about the company’s history and culture. Dunamu was founded in 2012 by Song Chi-hyung, and since then, it has launched several projects, including news curation service Newsmate, listed share trading app Stockplus, crypto exchange Upbit, and unlisted share trading app Ustockplus. In addition to these projects, Dunamu has also entered the NFT and metaverse markets with enterprises like Upbit NFT, 2nd block, and Levvels.Bae highlighted Dunamu’s horizontal organizational culture, which promotes respect for and consideration of diverse employee opinions. The company has no dress codes and encourages the use of English names to reduce hierarchical communication barriers. Dunamu also offers benefits like housing loans, high-end laptops, and adjustable desks to its employees.CoinoneHyung Yoon-sun, the human resources team leader at Coinone, another Korean crypto exchange, also spoke at the seminar. Like Dunamu, Coinone also boasts a horizontal corporate culture, which helps eliminate communication barriers. The company has implemented software that enables employees to work together on documents in real time, which has speeded up work processes.Hyung underscored Coinone’s commitment to security, demonstrated by its ISMS and ISO27001 certifications, and 24-hour control system. Employee benefits at Coinone include preferential loans, family-inclusive insurance plans, health check-ups, and long-term leaves.Hyung noted that Coinone previously focused on enhancing its exchange functionalities and hiring developers, but now it is seeking individuals who can contribute to the exchange’s sustainable management in compliance with financial authorities’ standards. Such roles involve anti-money laundering, transaction support, and legal support.

Wemade Signs MOU with Hub71 to Expand WEMIX Ecosystem in the UAEWemade, a leading blockchain gaming company based in South Korea, has recently entered into a memorandum of understanding (MOU) with Hub71, a global tech hub situated in the United Arab Emirates (UAE).Photo by Mohamad on PexelsGlobal tech hubHub71, established in 2017, serves as a global tech hub that brings together startups, corporates, and investors in the Abu Dhabi Global Market (ADGM), which is also home to Wemade’s branch in the Middle East and North Africa (MENA) region called WEMIX MENA.Hub71 benefits from the support of several influential partners, including Mubadala, the Abu Dhabi Investment Office (ADIO), and ADGM. Mubadala, a sovereign investor, manages a diverse portfolio of assets in the UAE and overseas. ADIO acts as the pivotal government hub promoting investment in Abu Dhabi. Meanwhile, ADGM functions as an international financial center with a regulatory framework based on UK common law.Web3 initiativeIn February, Hub71 launched a dedicated initiative called Hub71+ Digital Assets, aimed at fostering Web3 startups and blockchain technologies in the UAE. The initiative has attracted over $2 billion in capital commitments. Notable partners include Binance, Algorand, Polygon, Mastercard, and Amazon Web Services.As part of this collaborative endeavor, Wemade will participate as a partner by leveraging its native WEMIX token. While WEMIX and startups within its ecosystem will have expedited access to Hub71’s programs, GameFi and DeFi companies in Hub71 will have the opportunity to join the WEMIX ecosystem.Korea and UAE’s investment cooperationEarlier this year, the UAE and South Korea signed an MOU, outlining a $30 billion investment plan in the East Asian nation. This agreement has facilitated the entry of Korean firms into the UAE while also attracting investment opportunities.Wemade aims to expand its WEMIX ecosystem by establishing partnerships with various blockchain projects, both domestically and internationally. The company views the MOU with Hub71 as a significant stepping stone for its expansion in the MENA region.