Why Cryptocurrency is Popular in South Korea — ELLIPAL x PalletOne Partnership
The South Koreans are the ones responsible for a third of all Bitcoin trades happened last year.
Cryptocurrency has been a hot topic in South Korea for a while now. This Asian country just emerged as one of the top cryptocurrency markets last year. The South Koreans are the ones responsible for a third of all Bitcoin trades happened last year. Their influence in the cryptocurrency market is also so strong that the price of Ripple, which is very popular in South Korea, crashed the beginning of this year as a popular exchange website did not include trading data from South Korea.
There are many reason why South Koreans widely accept cryptocurrency. South Korea has always been early adopters of the best and newest technologies, whether it is social network, video game or high speed internet. South Korea is also very developed in terms of mobile payment infrastructure which prepared them well for digital currencies like Bitcoin. These reasons are probable explanations why South Korea openly adopted cryptocurrency — a similar story to Japan, who is also Asia’s leading country in cryptocurrency.
However, with South Korea, the reasons may lie deeper than their familiarity with new technology. Economic problems and political problems also fuel this acceptance for cryptocurrency. Whatever the reasons are, it is certain that South Korea may be the nation that will lead the way in cryptocurrency becoming mainstream.
PalletOne, a blockchain company, has seen this as a great opportunity to carry out their ICO in South Korea. PalletOne is a distributed inter-chain protocol for abstract level ledger ecosystem. This means PalletOne can act as a mediator to provide seamless cross-chain transactions without the user having to go through complex exchange operations and high fees. D Apps built on PalletOne platform can be flexible with their payment method (multiple currencies) without any fees, thanks to the inter-chain protocol. PalletOne can also be the best platform for sharing investment strategies by allowing users to create their own ETFs. Lastly, PalletOne’s data storage infrastructure uses DAG structure which will enables PalletOne to process great volume of transactions.
PalletOne is definitely an ICO that with massive potential. As many coins work on its own blockchain, an inter-chain protocol is needed to provide easy exchange between them. Its core team is made up of talented and experienced members who are all blockchain technology experts and it has already secured multiple capital funding. For a project with such potential, ELLIPAL is providing PalletOne with a secure solution for PalletOne investors to store their coins, hence the ELLIPAL — PalletOne partnership.
With ELLIPAL’s security solution, PalletOne’s holders will able to hold their coin safely in ELLIPAL wallet and enjoy the freedom of managing the coins through ELLIPAL’s unique QR code technology and App.