Korea Exchange inaugurates the Korean Startup market with Blockchain.
Blockchain technology spreads across different countries in the search of new opportunities for investors and to meet customer needs, it is the innovation and creativity that point to a horizon full of opportunities, this is the case of a new Startup in Korea.
Korea Exchange has launched the KSM (Korea Startup Market) service, which provides a market in which shares of start-up companies can be bought and sold. In this regard, Blocko Inc., a local blockchain company Startup participated in the project and adopted the technology in identity and document authentication. The KSM service has implemented blockchain technology using Coinstack a block-based development platform called Blocko Inc.
For its part, Blocko has secured the largest number of customer references within Korea regarding the start-up of new companies for this it provides its Coinstack platform of JB Banck of Korea, among the companies that use the platform Are: Lottecard, KISA, Paygate and others. Blocko raised or took a $ 1.3 million Series A financing from Samsung Venture Investment Corporation in July 2016.
On the other hand, Won-Beom Kim, CEO of Blocko Inc., said “This is the first commercialization example in which blockchain is applied to the Korean over-the counter stock market.” He added, “We are striving to advance our product by partnering with Samsung SDS, CISCO and others to apply blockchain to a wide range of industries in the future, beyond existing uses such as bonds, promissory notes and points within the financial sector.”
It is important to highlight the following Coinstack, can provide the service in two ways, Cloud and On-premise, and supports all kinds of applications and protocols available through Bitcoin Blockchain. In addition Coinstack is a development platform that supports both block-based licensing agreements and Ethereum-based smart contracts enabling companies to easily apply blockchain-based services. This is a real innovation in new companies that can help recognize blockchain technology. New announcements are expected.
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