by BlockEx
1. South Korea To Invest More Than $200 Million In Blockchain
South Korea is set to invest 230 billion Won in blockchain, approximately 207 million US dollars. South Korea’s Ministry of Science and ICT said that the funds for the investment will be raised through the Blockchain Technology Development Strategy, with 2022 as deadline. The plan is to create 10,000 blockchain professionals and 100 business. Furthermore, the country hopes to increase its blockchain competitive edge US rating from 76.4 % to 90 %. Furthermore, six pilot projects are going to be launched by the Ministry; “management of livestock records, personal customs clearance, easy real estate, online voting, electronic document distributions between countries, and marine logistics.” Lastly, the development of BaaS (Blockchain as a Service) will also be a priority for the government, in an attempt to increase the number of firms specialised in blockchain.
2. Huobi’s Crypto Index Market Added By Bloomberg Terminal
Software company Bloomberg has listed crypto exchange Huobi’s crypto index market HB10. Bloomberg Terminal users will now have access to the top 10 cryptocurrencies trading on Huobi Pro. The cryptocurrencies are traded against the U.S. dollar-pegged cryptocurrency tether (USDT). The index was launched by Huobi last month. Furthermore, Bloomberg will also add the trading data, gathered by Huobi, of nine cryptos against USDT, such as bitcoin, litecoin, bitcoin cash, ethereum, ethereum classic, XRP, dash, EOS and zcash. The news comes following Bloomberg’s partnership with Galaxy Digital Capital Management for the creation of a cryptocurrency benchmark index.
3. Amsterdam Airport Schiphol Lets You Swap Euros For Bitcoin
Amsterdam Airport Schiphol, one of the busiest airports in Europe, is trialling an ATM from whom travellers are able to withdraw Bitcoins and Ethereum, in exchange for their euros. The project was launched in collaboration with Dutch company ByeleX Data Solutions BV, and announced by the Dutch airport on Wednesday. According to Director of Consumer Products & Services Tanja Dik passengers who come from countries where the € is not the main currency will be able to swap their change for a “more international cryptocurrency like Bitcoin”. The trial is set to last 6 months and is aimed at assessing the level of demand for this kind of service.
4. BBVA Bank and Repsol Team Up For Blockchain Corporate Solution
We previously reported on Spanish banking group BBVA issuing a loan through blockchain. BBVA is now teaming up with Spanish energy company Repsol to create blockchain-backed corporate banking solutions. The two pioneers have recently concluded a revolving credit facility (RCF) which employed distributed ledger technology for the first time. During the Spanish Association of Economic News Journalists (APIE) conference, BBVA Head of Strategy and Blockchain Alicia Pertusa gave more details about the project, stating that the move was the result of a desire to create revolutionary financial products by integrating innovative technology. The sentiment was echoed by Repsol who also wants to promote digitalisation and innovation. The negotiation and agreement were conducted with a private blockchain network but signed with Ethereum test network (testnet).
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