{"id":517953,"date":"2022-11-29T17:45:00","date_gmt":"2022-11-29T14:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/south-koreas-unique-and-amazing-crypto-universe\/"},"modified":"2022-11-29T17:45:00","modified_gmt":"2022-11-29T14:45:00","slug":"south-koreas-unique-and-amazing-crypto-universe","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/south-koreas-unique-and-amazing-crypto-universe\/","title":{"rendered":"#South Korea\u2019s unique and amazing crypto universe"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bf36237ecf\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bf36237ecf\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/south-koreas-unique-and-amazing-crypto-universe\/#%E2%80%9CSouth_Koreas_unique_and_amazing_crypto_universe%E2%80%9D\" >&#8220;South Korea\u2019s unique and amazing crypto universe&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/south-koreas-unique-and-amazing-crypto-universe\/#South_Korea_technology\" >South Korea technology<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/south-koreas-unique-and-amazing-crypto-universe\/#2017_South_Korean_crypto_news\" >2017: South Korean crypto news<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/south-koreas-unique-and-amazing-crypto-universe\/#Cryptocurrency_and_gambling\" >Cryptocurrency and gambling<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/south-koreas-unique-and-amazing-crypto-universe\/#Crypto_bull_run\" >Crypto bull run<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/south-koreas-unique-and-amazing-crypto-universe\/#South_Korean_crypto_exchanges\" >South Korean crypto exchanges<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/buradabiliyorum.com\/en\/south-koreas-unique-and-amazing-crypto-universe\/#Korean_technology_Decentralization\" >Korean technology: Decentralization<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CSouth_Koreas_unique_and_amazing_crypto_universe%E2%80%9D\"><\/span>&#8220;South Korea\u2019s unique and amazing crypto universe&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p style=\"float:right;margin:0 0 10px 15px;width:240px\"><img decoding=\"async\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/11\/HI-South-Korea-blockchain-ecosystem-scaled.jpg\" class=\"type:primaryImage\"><\/p>\n<pre><code>                &lt;p&gt;&lt;strong&gt;Maybe its the language barrier, or the walls authorities have set up to prevent money from leaving the country. But whatever it is, South Korea has built its own unique corner of the cryptoverse thats unlike anywhere else on the planet.&lt;\/strong&gt;\n<\/code><\/pre>\n<p>Doo Wan Nam, a MakerDAO delegate who co-founded the research and advisory firm StableNode, laughs as he describes how crazy the intense speculation and crypto gambling can get in South Korea. He says its a country where the price of stablecoins like Dai or USD Coin can sometimes trade sky-high because if the price starts to rise a little above the $1 peg for some reason, speculators will jump in on the momentum trade.\u00a0<\/p>\n<p>They sometimes trade for $20 because they dont know its a stablecoin, he explains. They go, You know, it was trading at $10, I bought it because it was pumping I dont know, I didnt read, I just bought.<\/p>\n<blockquote class=\"wp-block-quote\"><p>So, I think that kind of tells you whether people knew what Terra was.<\/p>\n<\/blockquote>\n<p>The spectacular $60-billion implosion of the Terra ecosystem, headed up by the charismatic but ultimately deluded Korean developer Do Kwon, casts a pall over the entire ecosystem.<\/p>\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"400\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/11\/Evening-in-downtown-Seoul.jpg\" alt=\"Evening in downtown Seoul.\" class=\"wp-image-14498\" \/><figcaption class=\"wp-element-caption\"><em>Evening in downtown Seoul. Source: Pexels<\/em><\/figcaption><\/figure>\n<p>Terra is also instructive about some of the unique characteristics of the crypto culture in Korea, which places less emphasis on decentralization and puts more trust in project leaders like Kwon.<\/p>\n<p>Crypto is huge in this country obsessed with the latest and greatest <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>. The capital city Seoul is a futuristic metropolis with massive high-res screens and blistering fast internet everywhere. One in three people in the country owns cryptocurrency, and the government has unveiled an ambitious plan to transform it into the fifth-most metaverse-friendly country in the world.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"South_Korea_technology\"><\/span>South Korea technology<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While English is taught in schools, few speak the language at a conversational level. This is true of many countries of course but helps explain why many Koreans arent plugged into the same information sources as crypto fans in the United States. Forget western <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> and tech giants such as Reddit, Google, Twitter and Facebook  Google Maps barely works in the country and good luck getting an Uber.<\/p>\n<p>Instead, South Koreans access the internet, chat, search, order food and call for rides using local giants Kakao and Naver.<\/p>\n<figure class=\"wp-block-image alignright size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"386\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/11\/Dr.-Sangmin-Seo-from-metaverse-blockchain-Klatyn.png\" alt=\"Dr. Sangmin Seo from metaverse blockchain Klatyn.\" class=\"wp-image-14519\" \/><figcaption class=\"wp-element-caption\"><em>Sangmin Seo from metaverse blockchain Klatyn. Source: Andrew Fenton<\/em><\/figcaption><\/figure>\n<p>More than 90% of Koreans are using (social media <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>) KakaoTalk every day, explains Sangmin Seo, who prefers to go by Sam. Hes the representative director of the Klatyn Foundation, Kakaos blockchain and metaverse offshoot. Naver is the most dominant search engine in South Korea. Googles share is about 10%20% and 70%80% of the market share for search engines is Naver.<\/p>\n<p>Founded in 2011, Kakao is now the 15th-largest company in a country thats dominated by around 40 mega-corporations. Samsung, LG, Hyundai and SK together account for half the local stock markets value, while Samsung produces one-fifth of the countrys exports alone.<\/p>\n<p>Zerocap analyst Nathan Lenga has researched the South Korean ecosystem in detail and explains theres a whole other crypto world bubbling in the country. He cites blockchain-based video <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> and Roblox competitor Zepetto.<\/p>\n<p>People havent really heard about it, but it has 20 million users (a month), which is mindblowing, he says.\u00a0<\/p>\n<p>Theres this whole other side of crypto that we just dont hear about thats based on Asian culture. And thats all originating in South Korea, and thats why theyre such adopters  because they have their own versions.<\/p>\n<div class=\"article-suggest\">\n<div class=\"article-suggest__title display3\">Read also<\/div>\n<div class=\"article-suggest__items\">\n<div class=\"article-suggest__item\">                                                    <span>Features<\/span>                            Guide to real-life crypto OGs you\u2019d meet at a party (Part 2)<\/p>\n<\/p><\/div>\n<div class=\"article-suggest__item\">                                                    <span>Features<\/span>                            <\/p>\n<p>Inside the Iranian Bitcoin mining industry<\/p>\n<\/p><\/div>\n<\/div>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"2017_South_Korean_crypto_news\"><\/span>2017: South Korean crypto news<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Seonik Jeon, CEO of Financial <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> and founder of Factblock, says that prior to 2017, the only time South Korea made international news was when North Korea was firing missiles.<\/p>\n<p>However, as the blockchain market began in Korea, around 2017 and 2018, the amount of searching for blockchain and Korea together increased significantly, he explains.<\/p>\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"424\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/11\/Seonik-Jeon-founder-of-Korean-Blockchain-Week-and-CEO-of-Factblock.png\" alt=\"Seonik Jeon, founder of Korean Blockchain Week and CEO of Factblock.\" class=\"wp-image-14522\" \/><figcaption class=\"wp-element-caption\"><em>Seonik Jeon, founder of Korean Blockchain Week and CEO of Factblock. Source: Supplied<\/em><\/figcaption><\/figure>\n<p>Observers were fascinated by the speculative cryptomania that saw South Korea become the worlds third-largest crypto market in 2017. Bitcoin sometimes traded up to 20% higher in the country (also known as the famous Kimchi premium) due to capital controls introduced after the 20072008 global financial crisis to stop money from leaving the country.\u00a0<\/p>\n<p>Many tried and failed to exploit this mouth-watering arbitrage opportunity, including cryptos current main character Sam Bankman-Fried  but a handful succeeded.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cryptocurrency_and_gambling\"><\/span>Cryptocurrency and gambling<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Koreas relationship with crypto is tied up in its complicated relationship with gambling, which is mostly outlawed for locals (except lotteries and horse racing). A <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.kcgp.or.kr\/eng\/main.do\">study<\/a> from the Korean Center on Gambling Problems suggests the average Korean is two to three times more likely to suffer from gambling addiction than other nationalities, and gambling is seen in a very negative light.\u00a0<\/p>\n<p>Gambling itself is illegal in Korea, so a lot of people with gambling or a speculative [nature] then tend to go into stocks or crypto, says Nam. Crypto is very fast, high risk, high reward.<\/p>\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"484\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/11\/Seoul-at-night.png\" alt=\"Seoul at night.\" class=\"wp-image-14523\" \/><figcaption class=\"wp-element-caption\"><em>Seoul at night. Source: Pexels<\/em><\/figcaption><\/figure>\n<p>Nam got into the space during the initial coin offering boom of 2017 after finishing his military service and joining a blockchain company.<\/p>\n<blockquote class=\"wp-block-quote\"><p>It was quite crazy. In Korea, it was very, very, highly speculative. Like, there were people literally  especially middle-aged or the elderly, who didnt know much about blockchain  they just had money, and they go to different events and say, I want to invest; how can I invest?<\/p>\n<\/blockquote>\n<p>South Korean authorities banned ICOs toward the end of 2017, and news reports at the time claiming it was mulling a complete ban on crypto sent Bitcoins price plunging in January 2018 from a record high in December 2017.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Crypto_bull_run\"><\/span>Crypto bull run<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The complete ban never happened, though, and there was a huge surge in adoption in 2021 due to skyrocketing prices that put the ICO boom to shame. According to Koreas Financial Services Commision (FSC), at the beginning of 2021, just 1.9 million citizens owned cryptocurrency. By the end of the year, that number had grown to 15.25 million citizens.<\/p>\n<p>That means one in three citizens now owns crypto, and the FSC put the countrys digital asset market cap at 55 trillion won (currently $40,719,445,990), making it the seventh-largest country in the world for crypto ownership by market capitalization. Lenga attributes the surge in adoption to the 2021 bull run and the successful presidential campaign of Yoon Suk-yeol, which was strongly pro-crypto and even released a nonfungible token collection for supporters. Yoon took office in May this year.<\/p>\n<p>Jeon, however, believes that tech-loving millennials are behind the surge.\u00a0<\/p>\n<p>I believe the popularity of crypto in Korea is largely due to the younger generations curiosity and willingness to try new technologies, he explains.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">South Korea put pedestrian street lights on the ground cause so many pedestrians were staring at phones. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/bFMIIpg03v\">pic.twitter.com\/bFMIIpg03v<\/a><\/p>\n<p>\u2014 Trung Phan (@TrungTPhan) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TrungTPhan\/status\/1594523078473940992?ref_src=twsrc%5Etfw\">November 21, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>The millennial generation here is often called the mobile native generation due to their familiarity and acceptance of technology. They are enthusiastic and passionate and ready to quickly accept and adapt to changes and development in areas such as blockchain, Web3, NFTs and GameFi.<\/p>\n<p>Growth slowed the following financial year (to June 2022), adding just 13.2% more transactions.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"South_Korean_crypto_exchanges\"><\/span>South Korean crypto exchanges<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The surge in adoption in 2021 was accompanied by new licensing laws brought in around September that effectively banned the vast majority of crypto exchanges in the country. Each provider was required to get approval from both the Korea Internet and Security Agency and the FSC, and the 63 exchanges operating in the country were cut down to just a handful, including Upbit, Bithumb, Coinone and Korbit.<\/p>\n<p>They have almost complete domination over the crypto industry, says Lenga. Once the new president starts to introduce more positive regulations and legislation in South Korea, I think that more diverse exchanges will come back. But most of them are just gone forever because they werent allowed to survive.<\/p>\n<div class=\"article-suggest\">\n<div class=\"article-suggest__title display3\">Read also<\/div>\n<div class=\"article-suggest__items\">\n<div class=\"article-suggest__item\">                                                    <span>Features<\/span>                            Sexual Violence in India: Blockchains Role in Empowering Survivors<\/p>\n<\/p><\/div>\n<div class=\"article-suggest__item\">                                                    <span>Features<\/span>                            <\/p>\n<p>Escape from LA: Why Lockdown in Sri Lanka Works for MyEtherWallet Founder<\/p>\n<\/p><\/div>\n<\/div>\n<\/div>\n<p>Although viewed as overreach by many in the crypto community outside of Korea, inside, there was more acceptance of the need to clean up the industry, which Jeon said was fiercely competitive.\u00a0<\/p>\n<p>In this small market, there was a competition for listing coins between exchanges, and all these scam coins were listed, which sometimes caused damage to investors, he says.\u00a0<\/p>\n<p>Many insolvent coins that did not have proper business feasibility were sorted out. And it was an opportunity for investors to invest in a safer environment.<\/p>\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"372\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/11\/Doo-Wan-Nam-from-Stablenode.png\" alt=\"Doo Wan Nam from Stablenode.\" class=\"wp-image-14526\" \/><figcaption class=\"wp-element-caption\"><em>Doo Wan Nam from Stablenode. Source: Supplied<\/em><\/figcaption><\/figure>\n<p>Nam puts the blame more on the banks than the government and points out that while 40 different exchanges were approved on the governments side, the ones that passed the banks side was only five, he says. Exchanges needed a banking partner to get fiat in and out, and few banks were willing to do business.<\/p>\n<p>Another much-discussed regulatory issue surrounds crypto taxes, with longstanding plans to charge an additional 20% tax on crypto capital gains. Originally due to be implemented in January this year, its been delayed to 2025 and may never happen.<\/p>\n<div class=\"subscribe subscribe--inner\">\n<div class=\"container\">\n<div class=\"subscribe__inner\">\n<div class=\"subscribe__content\">\n<div class=\"subscribe__title display2\">Subscribe<\/div>\n<div class=\"subscribe__desc text-l\">The most engaging reads in blockchain. Delivered once a        week.<\/div>\n<div role=\"form\" class=\"wpcf7\" id=\"wpcf7-f13672-o1\" lang=\"en-US\" dir=\"ltr\">\n<div class=\"screen-reader-response\">\n<p role=\"status\">\n<ul><\/ul>\n<\/div>\n<div><\/div>\n<fieldset class=\"form-group\">    <label for=\"footer-subscribe\">Email address<\/label><br \/><\/fieldset>\n<p><button class=\"subscribe__btn btn btn-white\">SUBSCRIBE<\/button><\/p>\n<div class=\"wpcf7-response-output\" aria-hidden=\"true\"><\/div>\n<\/div>\n<\/div>\n<div class=\"subscribe__img\">    <img decoding=\"async\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/10\/reading-copy.png\" alt=\"Subscribe to Magazine by Cointelegraph Newsletter.\" \/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Jeon says the government is feverishly studying the industry to understand it properly and regulate it effectively. Once they have these regulations ready, I think many companies are ready to jump into crypto, he says.<\/p>\n<p>With the collapse of FTX following so quickly after the fall of Terra, reports emerged this week that the FSC is looking at bringing in new regulations to keep customer deposits separate from exchange assets and to regulate exchange tokens more strictly.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Korean_technology_Decentralization\"><\/span>Korean technology: Decentralization<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Probably the biggest difference between the crypto community in South Korea and in the West is the lack of emphasis  and ideology  around the importance of decentralization.<\/p>\n<p>Nam explains that while American conceptions of crypto are built around ideas of self-sovereignty and decentralization, not your keys, not your coins, those sorts of ideas are not widely embraced in Korea.<\/p>\n<blockquote class=\"wp-block-quote\"><p>Weve done a lot of surveys and research, and most Koreans dont really access crypto from, lets say, MetaMask. Most of them just put it in the crypto exchanges, and they never withdraw to [a wallet]. In fact, we have some surveys and realize that a lot of them dont even know [private cold wallets] exist.<\/p>\n<\/blockquote>\n<p>As a result, decentralized autonomous organizations are an alien concept to many, and decentralized finance (DeFi) adoption is not as widespread. This is common to the East Asian region according to recent data from Chainalysis, which shows that just 28% of transaction data is related to DeFi. Thats lower than any other region apart from Eastern Europe and miles behind North Americas 43.3%.<\/p>\n<p>Nam explains that theres a level of trust and faith in centralized projects with identifiable leaders that western crypto enthusiasts simply doesnt share.<\/p>\n<p>They kind of believe in this having single leadership  we kind of saw with Terra as well. Despite the fact that they were very big, we saw that Do Kwon had a lot of power, and he was able to hold sway within this ecosystem, which, for more decentralized protocols, might be criticized but, at least within Korea, felt like it was very natural, he says.<\/p>\n<p>It doesnt really have this strong ideal of libertarianism; its seen more as a company or another form of cooperation. And second, theres still a lot of faith in traditional institutions. Ironically, that was the reason Ripple became really popular in Korea, Nam adds.<\/p>\n<p>From their side, they believe its better to trust a centralized entity than themselves.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">1\/ Many are visiting Korea for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/buidl_asia?ref_src=twsrc%5Etfw\">@buidl_asia<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/eth_seoul_?ref_src=twsrc%5Etfw\">@eth_seoul_<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/kbwofficial?ref_src=twsrc%5Etfw\">@kbwofficial<\/a>, and I frequently got this question: &#8220;Who are good Korean teams \/ leaders in the crypto space to meet?&#8221;<\/p>\n<p>There are many interesting teams, but here are 24 you should definitely meet or at least learn of  <\/p>\n<p>\u2014 Doo | StableNode @Seoul (@DooWanNam) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DooWanNam\/status\/1554532824317042688?ref_src=twsrc%5Etfw\">August 2, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Sam, however, says that is starting to change  and he believes it must change to embrace the opportunity fully.<\/p>\n<p>Kakao and Koreans also care about decentralization, and we believe that our world will be more decentralized in the future, but we need time, and we need to educate people about the power of decentralization and how we lose from decentralization and what we get from decentralization, he stated.<\/p>\n<p><strong><em>Keep an eye out for part 2 which will explore South Koreas fascination with gaming, its blockchain game industry and ambitious plans to dominate the metaverse.\u00a0<\/em><\/strong><\/p>\n<div class=\"article-suggest\">\n<div class=\"article-suggest__title display3\">Read also<\/div>\n<div class=\"article-suggest__items\">\n<div class=\"article-suggest__item\">                                                    <span>Features<\/span>                            <\/p>\n<p>Are You Independent Yet? Financial Self-Sovereignty and the Decentralized Exchange<\/p>\n<\/p><\/div>\n<div class=\"article-suggest__item\">                                                    <span>Features<\/span>                            <\/p>\n<p>Crypto Pepes: What does the frog meme?<\/p>\n<\/p><\/div>\n<\/div>\n<\/div>\n<figure class=\"wp-block-image\"><img alt=\"\" \/><\/figure>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/magazine\/unique-amazing-south-koreas-cryptoverse\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;South Korea\u2019s unique and amazing crypto universe&#8221; &lt;p&gt;&lt;strong&gt;Maybe its the language barrier, or the walls authorities have set up to prevent money from leaving the country. But whatever it is, South Korea has built its own unique corner of the cryptoverse thats unlike anywhere else on the planet.&lt;\/strong&gt; Doo Wan Nam, a MakerDAO delegate who&#8230;<\/p>\n","protected":false},"author":1,"featured_media":517954,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/11\/HI-South-Korea-blockchain-ecosystem-scaled.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-517953","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/517953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=517953"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/517953\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/517954"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=517953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=517953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=517953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}