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First China And now South Korea!

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After China announced it would focus on Blockchain technology and encourage banks there to use Blockchain, South Korea also promised additional injections of funds or investment into the Blockchain sector. South Korea will invest $ 12.8 million in the Blockchain project in 2020, the Ministry of Science and ICT has confirmed in this regard. Per Fn News, the Sain and ICT ministries have outlined various expenditure plans that are expected to help provide impetus for Blockchain initiatives in the public and private sectors - and hope to provide training to Blockchain experts for generations to come.

The Ministry of Science and ICT said the Korea Internet and Security Agency (KISA), which has reported to the Ministry of Science and ICT, will provide "more than $ 8.6 million, this fund will later be used to develop services that can be used by public institutions and the private sector. " The Korea Internet and Security Agency (KISA) revealed they were looking to vote for and support a multi-year contract project - a Blockchain initiative that could be financially supported for several years.

In addition, funding of $ 3.4 million will also be provided by the National IT Industry Promotion Agency (NIPA), which is managed by the South Korean government, where the agency currently oversees Blockchain technology training course sessions for free. NIPA will further expand Blockchain knowledge through introductions, development, and coaching courses. Where, this will be present free of charge at Mapo, which is part of the administrative region of Seoul.

NIPA also has the duty to maintain "Blockhain companies and nurture Blockchain experts, of course," and will fund Blockchain training courses. Funds of $ 3.4 million will also be given in the amount of $ 342 thousand to invest in the Blockchain sector through selected Blockchain startups. Agencies related to the development of Blockchain in South Korea will also conduct research on "supporting regulations related to Blockchain". Not only that, a number of prominent companies and activists in South Korea have appealed to the government to change its attitude towards Blockchain policy.

Nevertheless, the city of Seoul has remained in its founding to support matters related to the development and investment in the Blockchain sector in the private sector, public Blockchain projects and cryptocurrency. The Ministry of Science and ICT in South Korea, talks about expanding the scope of the Blockchain, namely through testing the Blockchain project from short-term projects to medium and long-term projects. The ministry is currently working on 12 public Blockchain testing projects in the private sector, of which 12 Blockchain projects (an average of 80 percent are completed).

Read more here: https://coinvestasi.com/berita/tak-mau-kalah-dengan-china-negara-ini-janjikan-investasi-ke-sektor-blockchain/ (Indonesia)

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I knew it was a matter of time until we have another big announcement about another country accepting Blockchain tech after china. I say 2021 will be the year of Blockchain.

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Would be a good then. Developed countries are now seeing the importance of bitcoin and blockchain system for their country and could help them improve. But for third world cluntries, I think, they are far behind progressive than other country. 

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Good thing for another country to finally take a deep interest in cryptocurrencies. They have realized the inevitable rise of crypto as a potential means of economic wealth. Now if only a few more countries will follow suit before this year ends.

Care to take a guess as to what country is next?

 

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New to the Cryptotalk forum? Here's something that might help you get started:

https://cryptotalk.org/topic/24401-forum-tutorials-tips-and-tricks-for-newbies-compilation/

 

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9 hours ago, Nicearce said:

Yeah right korea and china was the best country that made of high tech technology.they are always advanve for featuring of a good technology.usa can not be banned crypto in the countries who wants bitcoin.eventhough they are rich country still china and korea can not be stop of what they desire to do in crypto.china and korea has a good plan in crypto lets support them about crypto.

Exactly, its nice to see that this country has suppoting cryptocurrency, we can say that they are really highly advance in terms of technology, i hope that the government in my country will adopt this to grow up the crypto itself.

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8 minutes ago, kylepresz said:

Asian countries are going to dominate the world of technology while the United States and Europe are wrapped up in red tape, debating the pros and cons of every innovation!

hahahaha, that's it, some speak, others do...

It is amazing to see how China and South Korea have things already structured and on development... these guys are investing seriously on blockchain and I have no doubt that the center of power in the world is shifting...

My country in in the EU and there wasn't even shown on the news the China president statement

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Now they knew that it was their mistake to ban crypto that is why they will now try to go reverse for their this decision and now they will adopt bitcoin on state level.

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There will be also another announcement coming from the USA. I am sure that after China they will also adopt blockchain for their country and will get benefits from this technology. 

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12 hours ago, Ohmygoddess said:

Very good news for the crypto world. But I would specify that before China and South Korea, Venezuela, Russia, Turkey and Switzerland had already advanced even in the production of crypto monetary initiatives. It is clear that the investment potential of China and South Korea is vastly greater.
In any case, the presence of these great competitors will force other powers to accelerate their passage. We will see the United States, despite their desire to ban the BTC or at least submit it to their designs, enter through the same door.
Fiat coins are doomed to interact with the crypto world.

Yes that's right but I think China & Korea have stronger influencing on crypto technology than the cited countries 

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Wow, a really interesting article in the crypto world. Well, it is not surprising that Korea undertook it, because now the age of technology, and cryptocurrency is very relevant, everyone wants to develop in it! I think, over time, it will fill all countries

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I think that eventually all countries will develop and publish their national strategies for implementing this new, exciting emerging technology. On the other hand, much depends on innovation within the startup community.

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13 hours ago, dhemasm said:

After China announced it would focus on Blockchain technology and encourage banks there to use Blockchain, South Korea also promised additional injections of funds or investment into the Blockchain sector.

I must admit that I never expected these tightly controlled Asian countries to lead the way in blockchain innovation and development, and embrace it the way they have. I think most of us thought the United States would be the first - since they are the first in many things.


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As you said guys, China and South Korea It is a very vital first step and I also hope that various countries will follow the two initiatives of this country, my country Indonesia has also begun to adopt the blockchain and get a positive response, Timor leste too. Well, maybe next year we can see various developments and competitions from every country in the field of blockchain

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14 hours ago, Ohmygoddess said:

Very good news for the crypto world. But I would specify that before China and South Korea, Venezuela, Russia, Turkey and Switzerland had already advanced even in the production of crypto monetary initiatives. It is clear that the investment potential of China and South Korea is vastly greater.
In any case, the presence of these great competitors will force other powers to accelerate their passage. We will see the United States, despite their desire to ban the BTC or at least submit it to their designs, enter through the same door.
Fiat coins are doomed to interact with the crypto world.

I don't think United Stated will ban the crypto. You know there is some kind of war between USA and Asia, I'm thinking more that they will compete with asiatic countries on this topic. They won't want to fall behind Asia, a negative movement towards crypto will cause some economic fall that will not benefit Trump's government.

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1 hour ago, aika said:

I don't think United Stated will ban the crypto. You know there is some kind of war between USA and Asia, I'm thinking more that they will compete with asiatic countries on this topic. They won't want to fall behind Asia, a negative movement towards crypto will cause some economic fall that will not benefit Trump's government.

Yep, i agree too USA i think just monitoring cryptocurrency and didn't ban it and that was interesting about USA and China trade war, did you think China take this advantage on cryptocurrency to raise their chance to win this trade war?

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1 hour ago, dhemasm said:

Yep, i agree too USA i think just monitoring cryptocurrency and didn't ban it and that was interesting about USA and China trade war, did you think China take this advantage on cryptocurrency to raise their chance to win this trade war?

Of course China want to go ahead and take the biggest share of the market. They are not openly opening to the cryptocurrency yet, but the recent announcements points to more future statements. Maybe passing laws, I don't know. Officials have said that they are not allowing crypto. But banning bad publications about blockchain just points out their future directions in this matter.

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18 minutes ago, rocsus said:

I wonder why posters are getting excited about China focussing on blockchain. It seems lot of you are ignorant about what blockchain is and how it differs to bitcoin. Focussing on blockchain has nothing to do with bitcoin. If China was going to accept bitcoin, there won't be reports of China launching its own cryptocurrency issued by the central bank. Same is the case with India, they will too launch its own cryptocurrency.

I don't know if its lack of knowledge, or just desperate attempt to see something positive to happen with bitcoin, but this recent statements about Blockchain by Chinese Premier has nothing to do with Bitcoin. 

President of Chinese likely to accelerate the rollout of the People's Bank of China (PBoC) 's plan to launch a central bank digital currency (CBDC).
maybe this article will be interesting for you  https://cointelegraph.com/news/expert-us-should-cut-crypto-firms-some-slack-to-compete-with-china

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17 minutes ago, aika said:

Of course China want to go ahead and take the biggest share of the market. They are not openly opening to the cryptocurrency yet, but the recent announcements points to more future statements. Maybe passing laws, I don't know. Officials have said that they are not allowing crypto. But banning bad publications about blockchain just points out their future directions in this matter.

Yea, china always been at the forefront of technology and competing with the USA, Maybe in my opinion the Chinese government forbids this because if they are not mistaken, they will release their own cryptocurrency (DCEP), maybe the government wants to focus the cryptocurrency community in China to supervise this DCEP, maybe that's what caused it.

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Yes, it's just super, if China and Korea want to replenish bitcoin additionally, then in 2020-2021 we will have a good price increase.

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2 hours ago, inlanwarc said:

I knew it was a mаtter оf time until wе have аnоthеr hugе declаrаtion almоst anothеr nation tolerаting Blоckсhain teсh aftеr chinа. I say 2021 will bе thе yеаr of Bloсkсhаin.

Yep, it's just about time and we can see something suprising. 2021 is possible, but let's assume that there are lots of other good news like this one and now that we can say 2020 was cryptocurrency year and not 2021. Since china has announced it, we just need to wait for the US and other countries to follow, Well, let's wait.

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On 11/2/2019 at 10:13 PM, rocsus said:

I wonder why posters are getting excited about China focussing on blockchain. It seems lot of you are ignorant about what blockchain is and how it differs to bitcoin. Focussing on blockchain has nothing to do with bitcoin. If China was going to accept bitcoin, there won't be reports of China launching its own cryptocurrency issued by the central bank. Same is the case with India, they will too launch its own cryptocurrency.

I don't know if its lack of knowledge, or just desperate attempt to see something positive to happen with bitcoin, but this recent statements about Blockchain by Chinese Premier has nothing to do with Bitcoin. 

I just read it today since there is no notification before and for this post, is this directed for me or some Poster from previous page? Anyway yes I agree that this will not have much effect on bitcoin but this positive news will certainly have a positive effect on the crypto market for sure.

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On 11/1/2019 at 10:26 PM, Ohmygoddess said:

Very good news for the crypto world. But I would specify that before China and South Korea, other countries as Venezuela, Russia, Turkey and Switzerland had already advanced even in the production of crypto monetary initiatives. It is clear that the investment potential of China and South Korea is vastly greater.
In any case, the presence of these great competitors will force other powers to accelerate their passage. We will see the United States, despite their desire to ban the BTC or at least submit it to their designs, enter through the same door.
Fiat coins are doomed to interact with the crypto world.

It is a welcome development and a pointer to the fact that the world is now beginning to see what we saw about cryptocurrency. Sooner than later, competition and accomplishments among nations would compel those sitting on the fence to be on their feet.  This development is also a clarion call to us  the early adopters, to keep our house in order before the institutions swoop down on it.

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11 hours ago, madera said:

Every day the cryptoccurrencies receive good news that means the crypto every day they are more people and government who they interest to it and will be adopt step by step in the life of people.

It will give more profit if the more people of the countries accept it and when i see good news about cryptocurrencies any days then raelly that day is very good for me.

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4 hours ago, rocsus said:

I don't exactly remember but I guess I was making a point regarding the general excitement of posters about the news of China focusing on blockchain which has nothing to do with bitcoin. It seems there is general misunderstanding that if blockchain is adopted bitcoin will be adopted too. Blockchain and bitcoin are separate entities. Blockchain can run without bitcoin, while bitcoin cannot run without blockchain. China focusing on blockchain has nothing to do with bitcoin or crypto in general. But when you just read some posts, most posters are happy about it. I would sure be glad too if Bitcoin is adopted by China as legal tender. But its not the case, certainly not with the recent statements of Chinese Premier.

Bitcoin maybe accepted or may not be accepted by China tomorrow, only time will tell, but China's focus on blockchain has nothing to with their stand on bitcoin. As for the positive effect its caused by price rise by whales, then because of what President Xi said.

I see so your statement before was directed to some poster on previous page that the hype because they think it will have an effect on bitcoin, Well I agree if so, this news does not completely affect bitcoin but it is very good news about the development of blockchain technology which has begun to be developed by several large countries and now it's clear, I think the statement was for me before. Well, happy to discuss with you, Cheers!

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There were 43 new 52-week highs and no new lows in the S&P 500, while the Nasdaq had 153 highs and 25 lows.   The dollar's weakening was halted by comments from Fed representatives at the end of the week. Minneapolis Federal Reserve Bank (FRB) President Neel Kashkari stated that he is not confident that the current "tight monetary policy is having a dominant effect on inflation, so interest rates need to be maintained." New York FRB President John Williams said that one positive inflation report is not enough to neutralize the negative impact of the previous two, so it's not yet time to expect the Fed to start lowering rates soon.   As for the common European currency, Reuters writes that it is resisting a fall to parity with the dollar (1:1) due to a favourable economic backdrop and the monetary measures of the European Central Bank (ECB). The six-month low for EUR/USD was recorded on 16 April at 1.0600, against the backdrop of the Eurozone's fragile economy and in sharp contrast with the stable US economy. But gradually, business activity in Europe began to recover, and according to the April report, it grew even faster than on the other side of the Atlantic. This contributed to the positive dynamics of the euro. Reuters experts noted that the gap between economic indicators in Europe and the US is narrowing, providing some support to the euro.   EUR/USD closed the week at 1.0868. As for the analysts' forecast for the near future, as of the evening of 17 May, the majority (65%) expect the dollar to strengthen, 20% foresee further weakening, and the remaining 15% took a neutral stance. All trend indicators and oscillators on D1 are 100% coloured green, with a quarter of them signalling that the pair is overbought. The nearest support for the pair is located in the zones of 1.0815-1.0835, then 1.0710-1.0725, 1.0665-1.0680, 1.0600-1.0620, 1.0560, 1.0495-1.0515, 1.0450, 1.0375, 1.0255, 1.0130, 1.0000. Resistance zones are found at 1.0880-1.0915, 1.0965-1.0980, 1.1015, 1.1050, and 1.1100-1.1140.   The schedule of the most important events for next week is as follows. On Tuesday, 21 May, US Treasury Secretary Janet Yellen is scheduled to speak. On Wednesday, 22 May, the publication of the minutes from the last FOMC (Federal Open Market Committee) meeting of the US Fed is of particular interest. The next day, as usual, we will learn about the number of initial jobless claims in the US, as well as receive preliminary data on business activity (PPI) in Germany, the Eurozone, and the United States. At the very end of the workweek, on Friday, 24 May, we will learn the GDP data of Germany for Q1 2024.   CRYPTOCURRENCIES: Weak USD = Strong BTC   "A week of reflection and uncertainty": this is how we described the previous review. On Wednesday, 15 May, this uncertainty was resolved in favour of the crypto market. As often happens, the reason for this was the Fed's monetary policy. The released inflation data in the US influenced market expectations regarding a rate cut. As a result, the American currency weakened, the DXY index went down, and investors' risk appetites increased. Stock indices reached historical highs, with the daily gain for BTC/USD exceeding 8%. ETH/USD also rose by 4.5%. However, this is not yet the long-awaited Bull Rally, and it is quite possible that once the situation with the dollar calms down, the growth of bitcoin and leading altcoins will cease. At least, this is the scenario many crypto market specialists predict.   According to Capriole Investment founder Charles Edwards, bitcoin is in a "deathly boring" stage. He believes that the current consolidation period may last from one to six months, during which the quotes will remain in a low-volatility range. This will continue until traders lose patience.   Sentiment will be most negative just before the end of the flat period, Edwards believes. "When you get tired of the sideways movement, common symptoms will include thoughts that the halving is already priced in and the bull market is over. […] Your symptoms and shorts will peak just before the mega-rally," predicts the head of Capriole Investment.   Galaxy Digital head Mike Novogratz also spoke about the consolidation of the crypto market, whose growth dried up three months after the launch of spot BTC-ETFs. In his opinion, until new circumstances or events lead to growth, the first cryptocurrency will trade in the range of $55,000 to $75,000.   Analyst Rekt Capital expressed a similar point of view. He believes that the threat of a bitcoin price drop after the halving has already passed. Drawing an analogy with the situation six years ago, he suggested that on 01 May, BTC hit a bottom around $56,000, and now calm will likely prevail until autumn, with the asset remaining in the accumulation zone. According to Rekt Capital's forecast, the exponential growth phase will begin in the autumn, during which the coin's value will reach new heights.   Bitfinex crypto exchange experts are somewhat more optimistic. They believe that the current lull may last only until the beginning of summer, and in Q3–Q4, growth will return. But everything depends on the actions of the US Fed. Bitfinex notes that the decline of the US currency from a six-month peak after the May meeting of the regulator and a weak employment report became a turning point in the trend. Now, the reduction in inflationary pressure in the US has been added. As a result, the weakening of the US currency could stimulate a rally in digital assets.   Where will this rally lead in the medium and long term? There are many answers to this question. Some predict the complete collapse and oblivion of bitcoin, while others insist on a price of $1 million per coin. Recently, Jack Dorsey, co-founder of Twitter (now X) and head of Block, joined the "millionaires' club" after CMCC Crest co-founder Willy Woo. He also expects bitcoin to surpass the $1 million mark by 2030, after which it will continue to grow, challenging traditional fiat currencies. The entrepreneur noted that a very interesting aspect of digital gold is the nature of its ecosystem and how it stimulates collective efforts to improve the network. "Aside from the founding story, the most amazing thing about bitcoin is that everyone [...] who makes any effort to improve it makes the whole ecosystem better, which drives the price up. This is an incredible movement. [...] It has taught me a lot," he explained.   Businessman, writer, and founder of Edelman Financial Services Ric Edelman believes that traditional international investors will do everything possible to diversify their portfolios. And if they all invest at least 1% of their funds in the first cryptocurrency, the bitcoin market volume will reach an unprecedented $7.4 trillion, and the asset price will soar to $420,000. The growth of the market capitalization will be facilitated by spot BTC-ETFs. According to Edelman, they cover a much broader investor base than traditional assets. "In addition, crypto ETFs are incredibly cheap. They are 20-25% cheaper than assets on Coinbase or other crypto exchanges. Plus, they are held in brokerage accounts. Bitcoin ETFs allow for traditional investment strategies such as rebalancing and dollar-cost averaging. There are also tax advantages," Edelman lists the advantages of such funds. "I am confident that bitcoin and ethereum ETFs will have a significant impact on the market in the long run," he stated.   However, this last assertion can be disputed. While BTC-ETFs are a reality, the situation with ETH-ETFs is not so simple. Many expected the SEC (Securities and Exchange Commission) to approve applications for the launch of ethereum funds in May. But this has not happened yet. Moreover, Bloomberg analyst Eric Balchunas and securities lawyer Scott Johnson believe that the chances of approving spot ETH-ETFs are almost zero. In their opinion, the SEC is now considering the possibility of rejecting these funds' launch based on the fact that the applications were submitted with violations, as the fund shares are securities, not exchange-traded commodities. The question of choosing between bitcoin and ethereum confronts many investors. The roles of these two cryptocurrencies differ, and this can significantly affect their profitability. Bitcoin is increasingly seen as digital gold, providing stability during times of economic uncertainty. This concept is supported by the observed post-halving volatility decrease, which was even lower than that of many companies in the S&P 500 index (Fidelity data).   Ethereum continues to push the boundaries of what is possible through technological innovations, including the recent Dencun update aimed at reducing fees and increasing scalability. However, these changes have once again made the network inflationary, nullifying the deflationary trend established after The Merge in 2022. As a result, ETH's volatility remains higher than BTC's.   According to ChatGPT, the artificial intelligence from OpenAI, the choice between these assets largely depends on individual investment strategy and risk tolerance. Bitcoin is generally better suited for investors seeking a relatively safe store of value and those new to cryptocurrencies. In contrast, Ethereum is better for those who believe in the future of blockchain technology. The main altcoin potentially offers higher rewards but also higher risks.   Investor and Eight founder Michaël van de Poppe has already made his choice. He admitted to selling all his bitcoins to buy altcoins. Van de Poppe believes that many of them are undervalued. And as soon as ETH prices start to rise, other alternative tokens will also go up. The expert believes that the altcoins he has chosen are likely to start growing earlier and faster than the market leader, allowing for greater profit than from investments in digital gold.   At the time of writing this review, the evening of Friday, 17 May, BTC/USD is trading at $66,835, and ETH/USD at $3,095. The total market capitalization of the crypto market is $2.42 trillion ($2.24 trillion a week ago). The Crypto Fear & Greed Index has risen from 66 to 74 points but remains in the Greed zone. NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
    • Добрый день уважаемые форумчане!   Дуров заявил об успехе Notcoin. Что это значит для криптовалют в Telegram   "В четверг, 16 мая, крупнейшие криптобиржи, включая Binance, OKX и Bybit, провели листинг токена NOT игры Notcoin. Игра существует в виде приложения внутри мессенджера Telegram и с момента запуска в январе собрала более 35 млн игроков, которые конвертировали игровые монеты в токены. На старте торгов цена токена доходила до $0,37, но уже несколько минут спустя зафиксировалась на $0,01. По данным на 17 мая 20:00 мск, NOT торгуется по $0,007 в паре со стейблкоином USDT на бирже Binance при капитализации более $700 млн"   Хотели бы увидеть на нашем сервисе направление с монетой NOT?
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