n South Koreas largest telecom firm KT has launched its blockchain-powered 5G network brand GiGA Chainn
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Tron (TRX) Ready For the $5.6 Billion South Korea’s Gaming Industry
- Tron prices slide 8.5 percent in the last week
- Roy Liu, the business development manager, signs a deal with two of South Korea’s gaming associations
- Transaction volumes low, recovery depends on bull trend resumption
The Tron Foundation may be hard at work, but market dynamics are exerting pressure on TRX. It is down 8.5 percent in the last week despite Roy Liu signing an MoU with two of South Korea’s leading gaming associations.
Tron Price Analysis
Fundamentals
Without a shadow of a doubt, Tron Foundation is ambitious. Evidence of their activity driving towards their objectives of decentralizing the web and correcting what many call the old sins of the World Wide Web is all over the place. We can start with BitTorrent and BTT ICO. Not only was it an overwhelming success but the TRC-10 token valuation is up meaning the Foundation is in green.
That’s not all. Seventy-five days after the announcement of the Tron Arcade, there is movement. Roy Liu, who is the Business Development Manager at Tron, has signed an MoU with two gaming associations–Korea Mobile Game Association (KMGA) and the Korea Blockchain Contents Association (KBCCA) — in South Korea.
Apart from the Kimchi Premium and widespread cryptocurrency adoption, the SE Asia country is the world’s fourth largest gaming market. According to GamesIndustry.biz, the global gaming industry generated 4.9 billion in 2018, a 10.9 percent increase from 200. In South Korea, gamers spent .6 billion in 2018 alone. As such, it is evident that Tron wants to get a foothold and be a preferred platform in the ever-expanding gaming market. After all, the objective of Tron Arcade is to:
“Empower developers to create and execute on their ideas, to introduce new games and content into an autonomous ecosystem, and to build a strong community of content and entertainment.”
Candlestick Arrangements
Like yesterday, TRX prices are no better. Despite our positive outlook, the coin is under immense pressure. In the last week, for example, the currency is down 8.5 percent.
With buyers failing to generate momentum and recoup losses, the gap between Stellar and TRX is narrowing. As I write this, the difference stands at 3 million meaning further breakdown could see a possible XLM—TRX flip.
All the same, we maintain a bullish projection, expecting prices to recover and align with pre-BTT ICO bulls set in motion in mid-Dec 2018. From our analysis, any break below 2.3 cents could see TRX prices slide to 2.1 cents. That will automatically take us out of this trade.
However, if prices surge above 3.1 cents snapping to trend and realigning with bulls of Jan 14 and 21, our TRX/USD trade plan will be on course, and prices will easily print and close above 3.1 cents.
Technical Indicators
There is a divergence, volumes are increasing, but prices are dumping. If there is a breakout below 2.3 cents, sellers would be in charge. Confirming this shift of momentum would be high volumes exceeding those of Feb 4—42 million and recent averages of 12 million.
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South Korea’s aSSIST Business School Now Offering Crypto MBA
The post South Korea’s aSSIST Business School Now Offering Crypto MBA appeared first on DCEBrief.
South Koreas Second Largest Bank Begins Blockchain Record-Keeping to Reduce Human Error
n Blockchain technology is slowly finding its way into more aspects of operations at Shinhan Bankn
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In Bear Market, Korea’s Biggest Crypto Project ICON Showed Solid Progress
A goodbye note from Deblock’s now-former Head of Research revealed the progress of their ICON blockchain project in all these months. And they looked extremely positive.
As he left the company to pursue his startup, Markus Jun noted ICON as one of the very few blockchain projects that showed significant accomplishments despite staying inside a bleeding crypto market.
“My time at Deblock and ICON coincided with one of the worst downturns in the cryptocurrency market. In spite of this, I can say that the ICON team has made incredible progress,” Markus wrote while asserting that their interoperable blockchain project till this date leads the South Korean blockchain industry.
“I’ve seen ICON push for significant progress in legitimizing blockchain and cryptocurrencies with the Korean Government, receiving the Minister Award for being an industry leader in the blockchain space, and launching demonstrations and several projects in conjunction with the Seoul Metropolitan Government. I’ve seen several hires in every ICON department, including senior positions, most of which weren’t made public and the team is still actively hiring to this day.”
Markus also brought focus to ICON’s international expansion stories, which included the launch of their global accelerator program ICONLOOP in partnership with the Singapore government, followed by its continuation in Tokyo and San Francisco.
“Beyond this, there are ongoing efforts to expand ICX Station globally. All things considered, it’s clear that ICON isn’t letting the market downturn affect them in moving forward,” Markus explained.
The said expansion is also bringing valuable partners to ICONLOOP. In addition to the Seoul government, ICON has gained support from LINE, Smilegate, Kyobo Insurance, and Jeju Island to develop blockchain solutions for them. It overall makes a long-term use-case for ICON’s ICX public network, indicating a stable growth for its native token ICX as well.
Solvent after Crash
At the time of the ICO, ICON’x ICX token sale raised close to 75,000 ETH. Their smart contract split the funds into 30 separate Ethereum wallets. Between December 2016 and November 2018, ICO team moved circa 70% of their funds to other portfolios – perhaps as part of a sale. After the post-ETH crash adjusments, the team holds around million in ETH reserves.
The figures prove that ICON is far from being insolvent at this time, in contrast to several other ICO projects that have either gone out of business or in a money crisis.
Forrester Research’s chief analyst Martha Bennett predicts that a majority of these ICOs are heading towards an outright extinction in absence of users and funds.
“Sooner or later, this would have led to a contraction anyway. The crypto crash acted as both catalyst and wake-up call.”
Big crypto startups like Coinbase and ConsenSys have also laid off employees in the past two months, indicating that the crypto market, in general, is running out of money.
ICON, with a provable business model and an increasing use-case among well-known organizations, could still survive the bloodbath owing to an actual demand for service.
“I’ve seen the best of ICON in the worst of times. That’s why I’m confident ICON is here to stay,” Markus noted.
The post In Bear Market, Korea’s Biggest Crypto Project ICON Showed Solid Progress appeared first on NewsBTC.
Koreas Largest Internet Firm Kakao Is Running a Crypto ICO That Is Not Subject to SEC Scrutiny
n Kakao is set to secure a 0 million private sale of its crypto called Clay in Japan, from institutional investorsn
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South Koreas Finance Ministry Considers Taxing Crypto and ICOs, New Minister Reveals
n South Koreas Finance Ministry is considering crypto and ICO taxation in accordance with global trends, new minister Hong Nam-ki revealedn
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Koreas KAIST University Adds Blockchain Application Courses to Curriculum
n nn nn South Koreas leading technology university, the Korea Advanced Institute of Science and Technology KAIST, is working with Theta Labs, the first blockchain-based video delivery system, to introduce students to an entirely new set of coursework regarding the applications of blockchain technology.Were kicking things off with a seminar at the electrical engineering school this Friday the 16th where well be providing a high-level overview of blockchain technolo
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South Koreas Zeniex Closes Amid Government Crackdown on Unauthorized Crypto Exchanges
n Zeniex, a joint crypto venture of South Korea and China, is revoking its ZXG token and closing the exchange service due to the financial regulators investigationn
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Koreas Top Financial Regulator Crypto Exchanges Should Face No Problems With Banks
n The chairman of Korea’s financial regulator has affirmed that crypto exchanges should face no issues with banking provisions, provided they apply AML and KYC measuresn
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