South Korean cartel enters Bitcoin remittance market

Major South Korean conglomerate Dongbu Group to enter Bitcoin remittance market
28 August 2017   384

Dongbu Group, a large South Korean conglomerate, producing industry, chemical, shipping, insurance and financial products, has announced a partnership with Bitcoin remittance service provider Sentbe in order to enter the Bitcoin remittance market. The move follows the legalization of “micro” Bitcoin remittances by the Korean government.

Dongbu Group announces partnership with Sentbe Image Credit: news.bitcoin.com

As reported, Dongbu Group is collaborating with Sentbe through its savings bank subsidiary, the Dongbu Savings Bank. On top of that, according to an official of the savings bank, a Memorandum of Understanding (MOU) was already signed by the partners to prepare for the fourth industrial revolution era.

We have been working on this business alliance to prepare for the fourth industrial revolution era under the traditional savings bank business.
 

An official from the Dongbu Savings Bank

“This MOU is aimed at securing joint business opportunities by exploring new business models based on new technology and expertise of the WSBI overseas affiliate network,” the announcement details.

Thus, the new law legalizes Bitcoin foreign exchange transfers for small sums. 

Sentbe is in the process of being approved as a “micro-foreign remittance business,” the bank reveals, adding that it is preparing to expand the market of micro-foreign remittances.

UCLA Blockchain Crypto Conference to be Held in LA

The UCLA Conference will be held on February 17-18 of 2018, gathering together the most experienced and exciting thinkers
17 February 2018   174

UCLA's Blockchain Lab and Far from LA are holding the Blockchain Cryptocurrency Conference, gathering together the most experienced and exciting thinkers across SoCal, in order to foster both economic and educational progress. The conference will concern cybersecurity, cryptocurrencies, and blockchain.

The UCLA Conference will be held on February 17-18 of 2018.

Location: The University of California, Humanities Building, 415 Portola Plaza, UCLA 90095, Los Angeles

The headline speakers will include Kathleen Breitman, the co-founder of Tezos; Sandra Ro from UWIN Lab; David Moss from EOS; Jeremy Rubin, the Bitcoin core developer, and many more.

The agenda of the conference is as follows: the future of blockchain keynote, bringing humanity to the blockchain, cybersecurity, autonomous vehicles, blockchain's influence on the development of art and culture, blockchain in the music industry, government adoption of blockchain around the world, and more.