South Korea and China to Invest in Blockchain Technology

Kim Dong-Yeon, the Minister of Finance of South Korea, shared his opinion regarding blockchain technology during the economic event in China

05 February 2018 706

South Korea's government does not plan to prohibit cryptocurrency trading, it intends to regulate and control it as blockchain is an important technology for its economy.

Kim Dong-Yeon, the Minister of Finance of South Korea had a meeting with the People’s Bank of China’s governor. They talked about a potential partnership between China and South Korea.

During his visit he stated that blockchain technology is an important breakthrough, that is why the ministry will take a cautious approach in regulating the cryptocurrency trading. In order to avoid the negative use of cryptocurrencies, the ministry will impose strict regulations.

According to Mr. Yeon, investing in blockchain technology will bring benefits to the economies of the countries.

Mr. Yeon visited the advanced technology hub, called Zhongguancun, based in Beijing. He also stated that he plans to invest in a blockchain platform developed in Seoul. The “second Techno Valley” will encourage around 1,400 startups to work side by side with the South Korean government.

In his opinion, the future plans seem to be promising for both economies, because both countries are focused on developing their economies through innovation.

This news is great for both investors and users because the result of the collaboration of two powerful countries should be amazing.

Mining Blockchain

Sparkpool to Freeze $300k Reward

As reported, pool suggests that such a high commission could have been paid by someone in error and is considering the possibility of a refund

20 February 2019 68

The Sparkpool mining pool decided to freeze the remuneration in the amount of 2,103,1485 for the extraction of block # 7,238,290. The management of the organization suggests that such a high commission could have been paid by someone in error and is considering the possibility of a refund, CoinDesk reports.

The head of the Sparkpool Xin Xu argues that users of the pool understand and agree with the decision, given the size of the amount involved.

Unfortunately, and fortunately, blockchain is so far not completely run by machines; human are still involved. So we have an opportunity to correct the problem. Integrity is our pool’s priority.

Xin Xu

CEO, Sparkpool

While some users suggested that a large commission was paid by mistake, others admitted that this could be a goodwill gesture from an anonymous donor to the community of the miner or even an attempt to launder money through the blockchain cryptocurrency.