Fun

News Feed - 2023-09-21 05:09:35

Prashant Jha47 minutes agoBusan is developing an Ethereum-compatible mainnet to become a ‘blockchain city’The city administration behind the project aims to make Busan a blockchain city and has launched a $75-million development plan to realize the goal.466 Total views39 Total sharesListen to article 0:00NewsJoin us on social networksSouth Korea’s second-largest city, Busan, is developing a public blockchain network compatible with mainstream blockchain platforms, such as Ethereum and Cosmos. The aim is to integrate blockchain-based services from various blockchain mainnets onto a single platform at the city level and develop Busan into a blockchain city.


Busan City has allocated a 100-billion-Korean-won ($75 million) budget for open blockchain development compatible with global standards under the Blockchain Innovation Fund (BIF). The funds will be raised through investments from public financial institutions in Busan, with nearly 100 private companies showing interest. The BIF is a private fund that supports the development of Busan’s blockchain industry and infrastructure construction, led by financial and public institutions in Busan.


The public blockchain development is being done under the Busan Digital Asset Exchange Establishment Promotion Plan and Future Schedule plan, with a focus on making Busan a blockchain city.Busan Blockchain City Development Plan. Source: News1


The official announcement noted that Busan City has been actively testing various use cases of blockchain technology in its trade-free zone; however, most of these projects were carried out on different blockchains, resulting in an “uncomfortable” experience for businesses. This was one of the key reasons for the city administration to zero in on a public blockchain at the city level that is compatible with global blockchain networks such as Ethereum.


Related:Coin Center responds to US lawmakers’ request for crypto tax guidance


Busan City is also involved in the process of establishing the Blockchain Trust Framework technology standard conducted by the Korea Internet & Security Agency.


The project aims to improve the quality of private services and encourage interconnection between services by presenting requirements such as blockchain technical system, performance and security level. The standard will also be utilized for public services within Busan City.


The long-term blockchain development plan also includes the development of the Busan digital asset exchange in the first half of 2024. The digital exchange will not only list digital assets but also tokenized securities, including precious metals and raw materials, such as gold, copper and oil. In the future, the administration behind the projects aims to tokenize and trade global intellectual property rights and carbon emissions rights.


Magazine:Big Questions: Did the NSA create Bitcoin?# Blockchain# Cryptocurrencies# Ethereum# Adoption# South Korea# Blockchain CompetitionAdd reactionAdd reactionRead moreHow to track and report crypto transactions for tax purposesIndian state governments spur blockchain adoption in public administrationHow Bitcoin miners can survive a hostile market — and the 2024 halving

News Feed

Biggest Movers: Apecoin up Nearly 100% on Second Day of Trading, AAVE, HNT Also Move Higher
Biggest Movers: Apecoin up Nearly 100% on Second Day of Trading, AAVE, HNT Also Move Higher On its second day of trading, APE rose by nearly 100% and is up over 1,200% in the last
Finder’s Experts Predict Bitcoin to Peak at $29K in 2023, But Forecast a Low of $13K 
Finder’s Experts Predict Bitcoin to Peak at $29K in 2023, But Forecast a Low of $13K  The price of bitcoin is set to rise in 2023, but crypto and fintech experts chosen by the p
Tristan Greene6 hours agoAvalanche Foundation allocates $50M investment to on-chain asset token purchasesCalled "Avalanche Vista," the initiative will consider investing in any asset that can be tokenized.995 T
Central Bank of Sri Lanka Warns of ‘Significant Risks’ in Using and Investing in Crypto
Central Bank of Sri Lanka Warns of "Significant Risks" in Using and Investing in Crypto Sri Lanka’s central bank has issued a warning about “the significant risks assoc
Progmat, DMM partner to introduce stablecoin for Seamoon Protocol
Derek Andersen7 hours agoProgmat, DMM partner to introduce stablecoin for Seamoon ProtocolThe DMM conglomerate hopes the coins powering its anime-filled Web3 ecosystem will be used with and among its partners as well. 1
Crypto Incidents Involving Exit Scams, Hacks, and Code Exploits Reach Record Low in December 2022 According to Certik
Crypto Incidents Involving Exit Scams, Hacks, and Code Exploits Reach Record Low in December 2022 According to Certik According to blockchain security company Certik, the number of
William Suberg13 hours agoLitecoin halving is 13 days away — So where is the LTC price rally?Going against Bitcoin is a tough pill to swallow for investors in one of the oldest altcoins.5166 Total views63 Total sharesL
Bitcoin.com Wallet Adds Shareable Payment Link Feature – Send Bitcoin Cash to Anyone via Text, Email, and Social Media
Bitcoin.com Wallet Adds Shareable Payment Link Feature - Send Bitcoin Cash to Anyone via Text, Email, and Social Media At Bitcoin.com, our team is all about spre
Darknet Markets Generated $1.7 Billion in Crypto Revenue in 2020 — Set a New Record
Darknet Markets Generated $1.7 Billion in Crypto Revenue in 2020 — Set a New Record Darknet market revenues hit a new all-time high in 2020, despite declining
John McAfee Plans to Tokenize All 535 Members of US Congress
John McAfee Plans to Tokenize All 535 Members of US Congress On Saturday, the notorious John McAfee revealed a new project he’s launching that aims to tokenize all 535 memb
Bitcoin Mining Chip Manufacturer Ebang to List on Nasdaq This Week
Bitcoin Mining Chip Manufacturer Ebang to List on Nasdaq This WeekOn Friday, June 26, the China-based Zhejiang Ebang Communication, often referred to as Ebang, will be listed on Nas
XRP Active Addresses Hit Highest Level Since April 2023 – Will Price Follow?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu