South Korea to Double Blockchain Trials Next Year

South Korean government made one step closer to blockchain
05 September 2018   930

South Korean authorities will allocate twice as much funds to finance blockchain projects in the next year, reports CoinDesk.

Representatives of the Korean Internet and Security Agency(a subdivision of the Ministry of Informatization and Communications) reported plans to significantly increase the number of blockchain projects, most of which are targeted at the public sector.

In the next year, we are considering expanding blockchain pilot projects in the public sector to 12, and plan to support more than three private-led blockchain national project.

Min Kyung-sik

Head of blockchain, KISA

In addition, for such projects, the agency will increase up to 10 billion South Korean won (about $ 9 million) budget for the next year. Also, $ 9 million of the funds of a separate fund will be used, which are planned to be mastered in 2018-2019.

The blockchain projects selected by the Ministry specialize in the management of supply chains in livestock, customs, online voting, real estate, electronic document management and logistics. This year the agency allocated $ 3.76 million for these projects.

The results of the current projects will be known in November. In December, the agency will hold a blockchain hackaton to select ideas for new projects.

PwC to Represent Crypto Analysis Tool

Halo aims to provide warranty services to cryptocurrency transactions, in particular, the solution helps to create independent evidence for private-public key pairs
20 June 2019   81

One of the world's largest consulting firms, PricewaterhouseCoopers (PwC), announced the launch of an updated audit solution that supports cryptocurrency assets. This is stated in the press release of the company.

A tool called Halo aims to provide warranty services to cryptocurrency transactions. In particular, the solution helps to create independent evidence for private-public key pairs, which is one of the elements necessary for establishing cryptocurrency ownership rights.

In addition, Halo can collect information about transactions and balances on the blockchain.

As noted in the statement, the decision can be used by companies for which PwC is not an auditor. The initiative should help them try new opportunities and solve problems related to the blockchain and cryptocurrencies.

Currently, PwC can use the updated tool to provide warranty services to customers operating Bitcoin, Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, LiteCoin, Ethereum, Ripple (XRP), as well as the ERC-20 OAX token.

PwC has been showing quite a strong interest in the cryptocurrency industry for several years now. So, in 2017, the company began accepting payments in Bitcoins, and last year began to develop new standards for the ecosystem of digital assets and stablecoats.