Korea Exchange Launches Korea Startup Market using Blockchain Technology

block-stock-exchangesThe Korea Exchange (KRX) has launched the Korea Startup Market (KSM) a service that provides a marketplace where the shares of early stage companies can be traded in the public market. As part of the launch, the KSM is utilizing the technology of Korean blockchain startup Blocko. The distributed ledger technology will be used for document and identity authentication. Blocko said;

“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.”

won-beom-kimBlocko said their company has secured the highest number of client references within Korea by providing its Coinstack platform to Korea’s JB Bank, Lottecard, KISA, Paygate and others. Blocko raised a series A round funding of $1.3 million from Samsung Venture Investment Corporation in July 2016.

“This is the first example of commercialization in which blockchain is applied to the Korean over-the-counter stock market,” said Won-Beom Kim CEO of Blocko. “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.”

 

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