SymVerse participated at ‘World Blockchain Summit MARVELS’ Busan
MARVELS Summit is one of the leading blockchain conference in Asia, where CEOs, developers, investors and lawmakers, government officials, and legal experts gather to share their insights, prospects, and perspectives on the latest trends in the industry, regulatory hurdles, technology, and more.
In addition to attending Blockchain Summit MARVELS at the end of previous year, SymVerse participated once again for their second annual event, held at APEC House convention in Busan, on August 29. The CEO of SymVerse, Choi Soo-hyuk, joined as one of the panelists, along with many other leaders of various sectors, whom include Bong-gyu Park, chairman of Korea CIO Summit, Hee-kyung Song, Member of Parliament, Jae-soo Yoo, Vice Mayor of Busan Metropolitan City, Tae-won Kim, Glosfer/ HYCON CEO, Yoo-Joo Kim, CEO of NiX/MOBBA, Young-hwan Oh, CEO of Gamebit, Eun-yeon Hwang, CEO of A-NEX, Il-soo Jang, CEO of Alcol, Seongho Na, CEO of SEEDETEC, Sun Mook Lim, CEO of Datagen, Chang-bae Sohn, CEO of Twining, Jong Myung Lee, CEO of DawinKS, and Do-hyun Ryu, CEO of PAYANPAY.
The event was held under the theme of “A land of opportunity Busan, a blockchain regulation free zone’’. The session was kicked off by a keynote speech, which informed the public of Busan’s blockchain regulation free zone, then followed by various sessions on the topics of blockchain-based certificate issuance services and real world blockchain applications.
Busan’s Vice Mayor for Economic Affairs, Jae-soo Yoo, who gave the keynote speech at the event, is trying to find ways to form clear ground rules to reduce frictions on blockchain regulations and provide more sustainable and ‘crypto-friendly’ business environment. According to a local news report, he stated that he has plans to put forward a proposal to allow ICO funding in the region within this year.
SymVerse CEO Soo-hyuk Choi said, “As blockchain market expanding rapidly throughout the world, Korea should be at the forefront of adoption.” “It is a hopeful sign that Korea stepped up to loosen some of the regulatory pressures amid complex jurisdiction and regulatory uncertainty.”
He added, “We believe that our fully integrated wallet and coupon tokenization service is very well suited for a wide range of practical purposes and be an added value to Busan’s alternative currency.”WHY BUSAN?
Modeled after Zug region in Switzerland, Busan, South Korea’s second largest city after Seoul, has garnered global attention as it was designated as a “Regulation-Free Zone” to allow blockchain businesses operate in the area with minimum oversight. Under the regulatory sandbox program, South Korean government is expected to invest around 25 million USD in the course of 2 years, supporting various sectors related to finance, tourism, and more.