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South Korea State Defense Arm DAPA to Build Blockchain Platform for Military Acquisition

South Korea's Defense Acquisition Program Administration (DAPA) plans to improve the reliability of data in the arms industry by using blockchain, the agency announced in a press release on April 10.The state arms procurement agency says it is seeking to use a blockchain platform to enable the secure sharing

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Artificial Intelligence Helps South Korea Police End $18 Million Crypto Ponzi Scheme

South Korean police have arrested suspects behind a cryptocurrency ponzi scheme using artificial intelligence (AI), local English-language news outlet Korea Joongang Daily reported on April 8.The scheme, which reportedly stole a total of 21.2 billion won ($18.3 million) over a six-month period in 2018, came to an end after

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Central Bank of Korea Includes Research on CBDCs in Annual Report

South Korea’s central bank has included a summary of research on central bank digital currencies (CBDC) in its 2018 annual payment settlement report issued Tuesday, March 26.The development of distributed ledger technologies (DLT) and crypto assets has fueled a debate over CBDCs, especially after Uruguay and Tunisia issued their

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HSBC Seeks Banking Partners in South Korea to Launch Voltron Blockchain Platform

United Kingdom-based banking giant HSBC is seeking banking partners in South Korea to deploy the blockchain platform Voltron in the country, Korean news outlet The Korea Times reports on Tuesday, March 12.As reported, Voltron is a platform that enables companies to process and settle their trading invoices via blockchain.

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UN Panel Says North Korea Obtained $670 Million in Crypto and Fiat via Hacking: Report

North Korea has reportedly amassed $670 million in fiat and cryptocurrencies by conducting hacking attacks, Asia-focused financial newspaper Nikkei Asian Review reports on Friday, March 8. The publication cites a U.N. Security Council report.The report, prepared by a panel of experts, was presented to the Security Council's North Korea

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South Korea Establishes Special Task Force to Prevent Cryptocurrency-Related Crimes

The South Korean Supreme Prosecutors' Office (SPO) has announced the establishment of a task force to fight cryptocurrency-related fraud and crimes. The development was reported by the Korean Broadcasting System (KBS), one of the largest national public broadcasters, in an article published on Tuesday, March 5.The new task force

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State-Issued Digital Currencies Can Squeeze Banks, Says South Korea Central Bank

South Korea’s central bank issued a warning over central bank digital currencies (CBDCs) a week after saying it would not introduce one itself. The development was reported in local news outlet Yonhap News Agency, Feb. 7.CBDCs, which are also known variously as state-backed or government-backed digital currencies, involve a blockchain-based

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