[Weekly Blockchain] Major Blockchain News in the 1st Week of November
Welcome, everyone, to ‘Weekly Blockchain’! Hello!
We will take a look at the blockchain market news for the past week with LEDGIS. What issues have been in the spotlight this week?
You can find more details by clicking on the following news original link.
👉IBCT Co., Ltd. Successfully Concludes ‘Global Blockchain Incheon Conference’
As shared in the previous post, it’s been reported that IBCT, the developer of LEDGIS, successfully concluded their participation in the ‘2023 Global Blockchain Incheon Conference’ held at Songdo Convensia in Incheon on October 30–31.
IBCT introduced innovative blockchain technologies such as ‘Digital ID & Wallet (IDaaS),’ ‘DIDH (Decentralized Identity Data Hub)-based MyData platform,’ and ‘Cloud-based user authentication system’ during the conference. They also shared their outlook for the future.
👉 Bitcoin could hit $150,000 by 2025, predicts Bernstein
According to MBN News, there is a forecast that the price of Bitcoin will increase by approximately fivefold by 2025.
Investment bank Bernstein has anticipated that the price of Bitcoin will surpass $150,000 by the middle of 2025, driven by the ‘Bitcoin halving’ and the approval of spot ETFs.
Bitcoin halving is an event that reduces the reward for mining new Bitcoin blocks by half approximately every four years, helping control the cryptocurrency’s supply and inflation.
👉 DAXA conducts education for virtual asset operators.
The Digital Asset Exchange Alliance (DAXA) conducted practical training on the Virtual Asset Consumer Protection Act and the Specific Financial Information Act on the 27th of last month.
This training session was centered around lectures by Cho Sung-gil, COO of Streami, on “Understanding Regulations Related to Virtual Asset Operators” and “Anti-Money Laundering (AML) Risk Assessment and Approval for New Products,” as reported.
👉 Even judges must report their holdings of virtual assets… Supreme Court amends regulations.
According to Yonhapnews, now judges must register the virtual assets (cryptocurrencies) they hold as part of their declared assets and report their transaction history to prevent conflicts of interest.
On the 1st, the Supreme Court announced a legislative proposal called ‘Some Amendments to the Supreme Court Rules on the Implementation of the Public Officials’ Ethics Act,’ which includes these provisions.
Under the amended rules, judges who hold or have traded virtual assets are now obligated to report them as part of their asset declarations.
We have examined recent issues in the blockchain market.
Key issues include the successful conclusion of the conference by IBCT, the developer of Ledgis, claims of a 5-fold increase in Bitcoin by 2025, the progress of DAXA’s virtual asset business education, and the requirement for judges to report their holdings of virtual assets.
LEDGIS team will continue to monitor market developments and maintain an ongoing interest in how the blockchain ecosystem will evolve in various aspects, including technology and regulations.
See you next week!
