South Korea’s ICOs Ban skipped over by Startups

  ICOs ban of South Korea might have slacked things down, but it hasn’t commonly stopped the flow of new digital coins on local exchanges
17 April 2018   441

Startups in the country have not shut the door on this basic method, despite the ban, and are instead domiciling their ICO abroad and then listing their currencies on South Korean exchanges. South Korea gave way its restriction on the cryptocurrency markets in September 2017, when it banned ICO listings in the country, as CCN  reported earlier. The move influenced greatly on the cryptocurrency trading volumes there, where the bitcoin price is known to trade at a hefty premium versus other markets.

Meanwhile, the flow is starting to turn for ICO issuers, as proved by ICON (ICX), a new coin developed by Seoul-based fintech DAYLI Financial Group but issued in Switzerland. The ICON Foundation is registered in Switzerland but functions out of Korea.

Major two cryptocurrency exchanges of South Korea, Bithumb and Upbit, keep Icon for trading where the new coin has been listed since March. As South Korea directed in the footsteps of China to ban ICOs, the issuing firms have created a way to skip over the rules. ICON has been a profitable investment so far, having launched trading at $0.11 and soared to $2.64, or KRW 2,814.

ICON isn’t the only Korean digital currency to have got round this prohibition. A tendency was adopted in about 12 companies have similarly launched ICOs overseas but listed their coins on Korean exchanges, including Hyundai subsidiary Hyundai BS&C, an Internet of Things startup that similarly chose Switzerland for its Hdac token generating event.

South Korean regulators want South Korean startups to be limpid about their international transactions, but don’t plan to obstacle them. At the same time, it would be much easier and less costly for South Korea to let local startups launch their token sales locally once again.

Top-3 Ongoing ICO 16th - 22nd Sep Acc. to Our Readers

Let’s check which ICOs from ongoing 16th to 22nd of September are considered the best among our readers
24 September 2018   129

Our readers are dedicated cryptocurrency enthusiasts and fans of blockchain technology. We provide them with the ability to express their opinion regularly. Let’s check top three upcoming ICO according to our readers.

1. World Bit Bank 

Vitsolutions, LLC has been conducting technical development of the World Bit Bank project and researching innovative financial technologies and the blockchain technology since 2016. World Bit Group which manages the World Bit Bank was established in 2018. It was registered in the EU and holds the Virtual currency against fiat currency exchange license and the Virtual currency wallet service license. Being under European jurisdiction, all real and digital assets of investors will have the highest security. By covering a large portion of the globe, we will be able to provide millions of people with banking services using cryptocurrency in conventional banking operations. Such services include: cryptocurrency loans, use of cryptocurrency in VISA/MasterCard debit cards, easy and cheap transfer and exchange of cryptocurrencies and many more financial transactions we make every day.

World Bit Bank ICO
World Bit Bank ICO

As reported, almost €16M raised.

2. Worldopo 

Worldopo gives the players a platform to build, own and trade property, all securely stored in blockchain. The innovative new approach is the use of it’s own cryptocurrency, the WPT as the base of the economic simulation. This gives the game a layer of realism never seen before, because people can earn real money when playing. The addition of AR makes it possible to actually see your empire grow before you eyes. In short Worldopoly is a true revolution in mobile gaming, easy accessible and yet complex like the real life itself. The best is part is: the game has already completed the development of its game engine and major features.

Worldopo ICO
Worldopo ICO

Worldopo team was able to sell 640 700 WPT.

3. Cloudbric  

Cloudbric is a decentralized universal security platform featuring enterprise-grade website, mobile device and crypto asset security, as well as access to a community driven threat intelligence database all powered through a new technology called VISION (patent pending), a CNN-based deep learning AI-tech, featuring one of the most accurate (low false positive rated) engines on the market. Our goal is to not only secure the web in general, but to secure the entire blockchain experience for users and businesses alike whether it’s protecting global exchanges, securing cryptocurrency assets, etc. so that we can help further encourages the widespread adoption of this great technology to masses. Cloudbric is currently a market leading web application firewall as a service vendor in South Korea and Singapore. We boast multiple awards (SC Magazine, Stevie Awards, Info Security PG, more), are industry-certified, and have more than 10,000 customers and partners.

Cloudbric ICO
Cloudbric ICO

As we can see on the pic above, Presale #1 and #2 ended, and looks like 5000 ETH in total was raised.