Conference for Global Cryptocurrency Exchanges Held in South Korea for the First Time

Jul 27, 2018

Global cryptocurrency exchanges gathered in Seoul.
Management teams from Chinese exchanges such as HUOBI, OKex, Bit-Z,, and Bitfroyer that are ranked in top 10 in the world attended a conference that was held in South Korea. Executives from South Korean exchanges such as Korbit also attended this conference.
‘Davinci Global Cryptocurrency Exchange Conference’, which had many international cryptocurrency exchanges in attendance, was held at Dragon City Hotel in Yongsan-gu. It was hosted by Davinci Foundation, supervised by The Electronic Times, and sponsored by The National Assembly’s Industry 4.0 Revolution Forum (Co-CEO Song Hee-kyung).
Davinci Foundation is a foundation that researches and distributes blockchain-based platforms. It was established by South Korea and China to share international cultures and to form a global blockchain industry ecosystem.
It was also established to recover trades between South Korean and Chinese companies that have been stopped due to THAAD (Terminal High Altitude Area Defense) and to base their trade network on blockchain.
At this conference, various opinions were suggested to protect South Korea’s cryptocurrency and blockchain markets. Opportunities for mutually exchanging technologies and business opportunities were also available at this conference.
“We have prepared an opportunity for South Korean and Chinese companies to communicate blockchain.” said Chairman of Davinci Foundation. “We hope that this conference would be a place to share various measures for operation of cryptocurrency exchanges, protection of investors, and prevention of cyber-attacks.”
“Blockchain has more security and credibility than any other technologies that are out there.” said Vice-Chairman Han Seung-jae of Davinci Foundation. “South Korean Government must also be active in invigorating global exchanges to invigorate South Korea’s blockchain industry.”
“We hope that this conference will act as a strong momentum for future development of blockchain and cryptocurrency.” said Kim Moo-sung who is a member of Liberty Korea Party through a welcoming speech.
Co-CEO Song Hee-kyung, who made a keynote speech, received huge response through his insightful presentation with a topic of ‘Future of Distributed Economy of South Korea’s Blockchain and Cryptocurrency’.
“To define Industry 4.0, it is a revolution that adds and connects intelligence to objects through soft-power (creation, innovation, convergence) based on software.” said Co-CEO Song Hee-kyung. “Whichever country can apply innovative technologies to industries more smoothly will become a country with bigger competitive edge.”
“Switzerland, Netherland, England, and the U.S. are creating various blockchain ecosystems.” said Co-CEO Song. “On the other hand, South Korea is not making much progress. Despite being a country with third highest number of patents in blockchain, South Korea is losing so much to regulations on cryptocurrency.” He also emphasized that South Korea needs will to promote blockchain industry.
“When Bill Gates was asked who his competitor is, he responded by saying that a ‘some crazy boy’ who is developing something new in his closet just like myself when I was young.” said Co-CEO Song. “South Korea also has many young men and women that can innovate many fields such as cryptocurrency, FinTech, and distribution through blockchain technology.”
Co-CEO Song emphasized that South Korean Government must lift regulations on blockchain as quickly as possible and break its thinking that cryptocurrency is equivalent to speculation.
Followed by Co-CEO Song’s speech, Huobi, Bit-Z,, and Coinbene announced current status of their exchanges, methods of operation, and visions. Executives from their headquarters shared their ways of strengthening security of their exchanges and others.
Chairman Jeon Ha-jin of Korea Blockchain Industry Promotion Association’s Voluntary Regulation Committee, who carried out voluntary regulation evaluation on cryptocurrency exchanges recently, also made a presentation with a topic ‘Prediction of Blockchain Industry and Cryptocurrency’. Vice-Chairman Kim Kong-seon of KSTAR Group and Professor Song In-kyu of Korea University also made presentations with topics of ‘Use of Cryptocurrency in Daily Life’ and ‘Understanding of South Korea’s Blockchain and Cryptocurrency’ respectively.
CEO Jeon Hon of Blockchain Research Institute made a presentation with an unique topic of ‘Smart Contract and Decentralized Game’.
Last session was held to present Davinci’s projects.
CIO Ko Jin-seok of Davinci Foundation presented AI-based blockchain and its usage.
“Our project is the first joint project between South Korea and China and it will be a project that will connect national exchanges through network.” said CIO Ko. “Its goal is to pioneer trades and cultural exchanges through digital pathway.” He also added that Davinci Foundation will create an ecosystem that will connect everything in daily life through Davinci Coin and that it will create an environment that will trust every node of entire system.
This conference had gathered more than 500 spectators and proved huge interests of people towards blockchain.
Staff Reporter Gil, Jaeshik |

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