Korean, Singaporean Firms Form Consortium to Create a Global Healthy Blockchain Ecosystem

Several big firms in South Korea and Singapore have banded together to create a blockchain consortium to enhance the ecosystem.

Some of the biggest blockchain-focused companies, as well as one law firm, have formed a consortium to create a “healthy blockchain ecosystem" as well as develop several dApps that are strategically focused on South Korea and Singapore.

South Korean blockchain platform ASTON said the Asia Blockchain Promotion Global Consortium is comprised of digital currency exchange BCoin.sg in Singapore and Bimax.io in South Korea, distributed ledger technology platform provider ASTON, and a blockchain center that is an affiliated group of OhKims Law & Company.

The consortium is committed to developing their global organizational capabilities by improving their respective specialties, ASTON said in a statement.

Moreover, Singapore CryptoFund (Neo Global Capital, also referred to as NGC) is scheduled to join the group in the coming days with the unveiling of a 30 billion KRW cryptocurrency fund. Once it enters the group, NGC will provide financial support for the technological and advancement and commercialization of blockchain.

As the only technology company in the group, ASTON is also bringing with it the MainNet, which is expected to be completed next month. The company will develop an ASTON-powered dApps as well as provide technical assistance in blockchain development, providing financial aid and incubating startups.

For its part, OhKims Law & Company is assisting ASTON in the establishment of the consortium by providing a one-stop service (OSS) from consulting services to investment and listing to full activation of a blockchain ecosystem.

The creation of this consortium, including its objective, is timely in light of the prediction by International Digital Currency Markets (IDCM) senior executive Andrew Wong that the cryptocurrency market would be a free-for-all in the coming future, with Bitcoin, Ethereum, and altcoins remaining for the foreseeable future.

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