International blockchain moguls discussed Korea's potential in the global blockchain market at the Upbit D Conference (UDC), the leading blockchain event in Korea, which kicked off at the Grand Walkerhill Seoul, Monday.
Under the theme "All That Blockchain," 39 blockchain experts from 29 countries shared their knowledge and insights with over 3,700 participants. This time, the event, which originally focused on the technology itself, broadened its horizon. Its sessions included, but were not limited to industry trends, regulations, finance and business, and culture.
Alexandre Dreyfus, CEO of Chiliz, who discussed blockchain's possibilities in sports industries, also mentioned Korea's keen interest in sports and esports as an asset to the sector, suggesting that collaborations with K-pop bands and international sports teams such as Juventus and FC Barcelona can also be expected.
Korea's current state and future prospects of blockchain
SKT Executive Vice President Oh Se-hyeon provided insights into the current state and future prospects of Web 3.0 and blockchain services in Korea.
"When we look at the announcement made by the science ministry in June, it puts a lot of focus in sectors such as SaaS, AI service, OTT, metaverse and blockchain, not only regulating."
Oh cited several instances where Korea began participating in Web3 initiatives.
For example, starting in October, the Bank of Korea began exploring the concept of a Central Bank Digital Currency (CBDC), a new form of digital money issued by the central bank. In February, the Financial Services Commission announced its first guideline on Security Token Offering (STO), a process that allows companies or individuals to issue various assets as digital tokens using blockchain technology.
Source: The Korea Times