Building BWN: Blue Whale X Incheon Free Economic Zone Authority

Credit: Naver

Blue Whale Foundation and Incheon Free Economic Zone Authority (IFEZ) signed a Memorandum of Understanding (MOU) to support future research and development collaborations for Songdo International Business District as a blockchain hub city.

The signing ceremony of the MOU took place on November 28 and was attended by Kim Jin-yong, Commissioner of IFEZ, and Will Lee, CEO of Blue Whale Foundation.

Blue Whale Foundation will initiate sandbox regulations and establish a research-based community for blockchain and blockchain-related startups, incubators, and shared offices at Songdo International Business District. Songdo is the world’s first Smart City and has well-established infrastructure as a global business city. The city will also open its doors to the Institute for Basic Science, a South Korean government-funded research institute, in 2019.

Blue Whale Foundation will also actively cooperate with IFEZ to build and develop a blockchain hub city in Songdo. IFEZ established its foundation in blockchain earlier this year with the inclusion of a blockchain sector under the Key Attraction Sectors for the IFEZ Free Economic Zone Plan.

“Blockchain is a new industrial sector in the new era of the fourth industrial revolution and IFEZ is the best place to cultivate such a blockchain-based industry. Following the tremendous growth that IFEZ has made from the beginning, we will continue to create initiatives in the field of blockchain,” said IFEZ Commissioner Kim Jin-yong.

As a market leader of the blockchain industry in South Korea, Blue Whale Foundation recently launched an asset tokenisation platform, Shareable Asset, in October 2018. The user-focused platform enables and maximises the liquidity of tangible assets while simultaneously ensuring that all participants are able to gain opportunities to invest as independent economic subjects and maximise their profits.

Blue Whale Foundation has also recently signed a MOU with Samsung Electronics Corporation in November to develop viable means to support the global indie game ecosystem together with its existing infrastructure and technology.

On December 3, Blue Whale Foundation will be launching Splash, a suite of software-as-a-service (SaaS) tools catered to Small and Medium-sized Businesses (SMBs). The new service will provide these businesses effective solutions in handling ad referrals, lead generation, user verification and customer arbitration. The launch will be promoted in collaboration with Seoul Design Festival 2018 from December 12 to 16. In partnership with Design House, South Korea’s largest design publication agency, Blue Whale Foundation will be participating and working together with more than 100 exhibitors for the annual design-specialised event.


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