A Wave of Blockchain-Based Unlisted Stock Platforms is Hitting Korea
- The unlisted stock trading platforms could act as a bolster to South Korea's startup ecosystem.
Following a successful government pilot project and financial regulation sandbox, South Korea's financial sector is seeing an influx of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term-powered unlisted stock trading plaftorms, according to local news source Business Korea. These platforms could offer a boost to South Korea's startup ecosystem
"Based on the government's pilot project and a financial regulation sandbox, the financial sector including KOSCOM (Korea Securities Computing Corporation) and blockchain companies is launching services one after another," the report said.
So far, KOSCOM's blockchain-based unlisted stock market--called "Be My Unicorn"--is the only one that's live; however, two other companies--Dunamu and PSX--will launch similar platforms in September and February of 2021, respectively, according to individuals close to the matter.
Unlisted stock trading platforms "may lead to the promotion of investment in startups."
According to the report, the reason that these platforms could be particularly important to South Korea's startup ecosystem is that the increased safety that these platforms offer "may lead to the promotion of investment in startups."
For example, "Through the 'Be My Unicorn' platform, investors will be able to trade the unlisted stocks from professional investors such as accelerators, and stocks from venture company employees," KOSCOM said.
This is because KOSCOM's platform--and the others, when they will be launched--reportedly reduces the burdens of managing shareholder lists of small and medium-sized companies and venture startups; they also increase the trading efficiency of investors.
KOSCOM is also planning on launching 'Initial,' a blockchain-based mobile electronic authentication (decentralized identification (DID)) service, in May. With Initial, it will be possible to use simple logins and electronic contracts in conjunction with the 'Be My Unicorn' platform.
On PSX's platform, which is now in its pilot stage, the stocks of a number of well-known unlisted startups has begun, including Market Curly, Musinsa, Vuno, Krafton (Bluehole), Ridi Books, Yanolja, and Blocko.
Meanwhile, PSX is receiving the stocks of unlisted startups from angel investors, accelerators, and stock options holders; Shinhan Financial Investment is supporting PSX with user account openings and the trading system for stable services of PSX.
Following a successful government pilot project and financial regulation sandbox, South Korea's financial sector is seeing an influx of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term-powered unlisted stock trading plaftorms, according to local news source Business Korea. These platforms could offer a boost to South Korea's startup ecosystem
"Based on the government's pilot project and a financial regulation sandbox, the financial sector including KOSCOM (Korea Securities Computing Corporation) and blockchain companies is launching services one after another," the report said.
So far, KOSCOM's blockchain-based unlisted stock market--called "Be My Unicorn"--is the only one that's live; however, two other companies--Dunamu and PSX--will launch similar platforms in September and February of 2021, respectively, according to individuals close to the matter.
Unlisted stock trading platforms "may lead to the promotion of investment in startups."
According to the report, the reason that these platforms could be particularly important to South Korea's startup ecosystem is that the increased safety that these platforms offer "may lead to the promotion of investment in startups."
For example, "Through the 'Be My Unicorn' platform, investors will be able to trade the unlisted stocks from professional investors such as accelerators, and stocks from venture company employees," KOSCOM said.
This is because KOSCOM's platform--and the others, when they will be launched--reportedly reduces the burdens of managing shareholder lists of small and medium-sized companies and venture startups; they also increase the trading efficiency of investors.
KOSCOM is also planning on launching 'Initial,' a blockchain-based mobile electronic authentication (decentralized identification (DID)) service, in May. With Initial, it will be possible to use simple logins and electronic contracts in conjunction with the 'Be My Unicorn' platform.
On PSX's platform, which is now in its pilot stage, the stocks of a number of well-known unlisted startups has begun, including Market Curly, Musinsa, Vuno, Krafton (Bluehole), Ridi Books, Yanolja, and Blocko.
Meanwhile, PSX is receiving the stocks of unlisted startups from angel investors, accelerators, and stock options holders; Shinhan Financial Investment is supporting PSX with user account openings and the trading system for stable services of PSX.