[CoinDesk x Delio] Delio sponsors CoinDesk Korea 5th Anniversary Forum | South Korea to enhance social value using blockchain

Published in

delio-global

4 min readMar 30, 2023

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South Korea has become one of the most active and influential cryptocurrency markets globally. The country’s tech-savvy population and supportive government policies have made it a blockchain and cryptocurrency innovation hub.

On March 29, CoinDesk Korea held a “2023 Global Tokenomics Forum,” marking the fifth anniversary of the biggest blockchain local media’s founding. The forum was sponsored by Delio and three other leading Korean cryptocurrency companies, such as Upbit, Bithumb, and Hashed.

Park Changkyu, CoinDesk Korea CEO (right), with Adward Kim, Delio Deputy CEO (left)

The forum aimed to discuss social value creation using blockchain and tokenomics, featuring in-depth discussions on blockchain’s technical implications and future with Korea’s prominent figures in the virtual asset industry, politics, financial authorities, and corporations.

Today, we are digging into every corner of the CoinDesk Korea 5th Anniversary Forum, discussing the blockchain ESG-related performance and future opportunities that could draw attention from global investors.

Tokenomics-based KPI to maximize economic rewardability?

Prof. Lee Jong-Seop of Seoul National University discussed the potential for blockchain and tokenomics to create social value at a global talk forum. He defined tokenomics as “an economic incentive to get more users to participate in the platform and manage it vigorously using tokens,” highlighting that a token-based dynamic virtuous cycle structure maximizes the network effect of decentralized applications. To overcome potential issues with incentive pursuit, he suggested establishing DAO governance and considering locking long-term investment periods or granting greater voting rights to long-term investors.

Prof. Lee Jong-Seop of Seoul National University (Source: CoinDesk Korea)

Spotlight on DAO and NFT connections

The chairman of the Blockchain Law Society, Lee Jeong-Yeop, highlighted the connection between DAOs and NFTs, stating that “NFTs are the technology that had to come out for DAOs.” He emphasized the value of NFTs in membership confirmation and the potential for community members to receive services and dividends, allowing for community capitalization. Lee also expressed the potential of DAOs to create an organization that transcends borders and becomes a long-term trend.

Lee Jeong-Yeop, chairman at Blockchain Law Society (Source: CoinDesk Korea)

Emerging Proof-of-Stake(PoS) blockchain ecosystem?

Lawyer Yoon Jong-Soo emphasized that “ESG can be improved through blockchain” by using blockchain for ESG analysis and supply chain management. He discussed the benefits of data transparency, reliability, security, and standardization in the blockchain. The case of Ethereum’s ‘The Merge’ upgrade was also analyzed, and the importance of decentralization in blockchain governance was highlighted.

Lawyer Yoon Jong-Soo (Source: CoinDesk Korea)

Activating the carbon credit market with STOs

Hong Seung-Hyun, head of the Carbon Solution Department at Korea Investment&Securities, mentioned the potential for using security tokens to activate the carbon emissions trading market. The introduction of security token offerings (STOs) is expected to address issues with market transparency and liquidity and enable greater investor participation. Blockchain technology can be used to offer a variety of products, not just carbon emissions trading, and STOs could also facilitate fundraising for renewable energy supply certification, afforestation, and charitable projects.

Hong Seung-Hyun, head of the Carbon Solution Department at Korea Investment&Securities (Source: CoinDesk Korea)

Blockchain to solve ESG issues?

During the final debate session, experts shared their opinions on blockchain-based ESG solutions. Alice Kim, Director of the global blockchain platform Hedera, presented a blockchain solution for companies to overcome ESG management obstacles. Other speakers talked about the future of blockchain ecosystems in addressing environmental and climate change issues and how NFTs can be used to achieve sustainable ESG programs. Discussions also focused on the impact of ESG and Bitcoin on the Web 3.0 stage based on the Monolith 4-stage theory*.

*The Monolith 4-step theory is based on the idea that success is achieved through a combination of focus, effort, persistence, and learning.

Once again, Delio congratulates CoinDesk Korea on its 5th anniversary. 🎉

The development of CoinDesk Korea goes hand in hand with the development of the Korean blockchain industry, so we would like to extend our support to CoinDesk Korea and wish them great future ahead!