Ontology works with CarBlock, enters Automobile Industry

Ontology, a new public multi-chain project, today declared about its partnership with CarBlock, the world’s first blockchain-based transportation solution
12 June 2018   1063

The two firms will cooperate in basic technology, adopt their business resources, and partner in community operations. CarBlock will also airdrop tokens to cars and their owners certified by Ontology. Sharing Ontology’s “real economy” strategy, CarBlock will construct a transport data platform built on blockchain and vehicle network intelligent hardware. The platform is to connect Ontology’s chain network model with CarBlock’s intelligent hardware and IoT solutions to successfully and fairly circulate vehicle data within the ecosystem. CarBlock will apply data to tap into the one trillion US dollar automobile market and create a brand new smart transport ecosystem.

We are very pleased to cooperate with CarBlock to connect Ontology’s distributed infrastructure and services to more application scenarios as part of our real economy strategy. Our partnership with CarBlock will ensure effective circulation of transport data, integration of Ontology with the smart transport field, and overall enrichment of the Ontology ecosystem.
Jun Li
Founder, Ontology

CarBlock is the world’s first decentralized automobile industry trading area built on vehicle data. With the help of the blockchain technology, intelligent hardware, and other IoT solutions, ownership of vehicle data is brought back to users. 

We recognize Ontology’s technical accomplishments in public chain development, linking resources of ecosystem application partners, and dedicated support from partnering technical teams. CarBlock is the fastest growing blockchain application in the automobile industry with the most abundant industry resources. We will be using our position to promote the Ontology ecosystem and help Ontology provide more diversified industry solutions.
Jia Li
Founder, CarBlock

Vehicle data can be efficiently circulated in the ecosystem via fair data circulation mechanisms. Data might also be applied to tap into the one trillion US dollar automobile market and construct a brand new smart transport ecosystem.

Bithumb Filed Appeal Against Korean Tax Office

Looks like the korean exchange doesn't really want to pay an additional tax worth $67 000 000
16 January 2020   90

The South Korean cryptocurrency exchange Bithumb has filed a complaint against the National Tax Service (NTS) because of the requirement to pay additional taxes for the transactions of its foreign customers.

The company claims that cryptocurrencies do not have an official status in the territory of South Korea, which is why the authorities cannot have sufficient reasons to levy any taxes.

The tax court will have to decide within 90 days whether to retain or withdraw from Bithumb the obligation to pay the $ 69.1 million tax that was assigned to it by NTS in November. The Office declares that the withdrawal of income from accounts in Korean won by foreign residents is a taxable event. It is assumed that the exchange itself had to withhold tax from its foreign customers.

We paid the full amount and have since been preparing for arguments. We believe we will be given a chance to clarify our stance in court.

 

Bithumb

 The ministry has its own position on this issue.

Bitcoin under the current law is not an asset. It is clear and simple. The Ministry of Economy and Finance already made that clear. The NTS pushing ahead with the tax imposition is baseless and groundless, especially since it is still awaiting the ministry opinion on the same matter it sought again.

 

Choi Hwoa-in

Adviser to Financial Supervisory Service

According to the expert, the NTS maneuver is well thought out and aimed at starting to levy a tax on income that is currently not taxable.

We cannot comment on the ongoing matter. We will await the judgment from the Tax Tribunal.

 

NTS

Earlier, Bithumb was ordered to pay an additional $ 67 million in tax.