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This is an interview transcript with Tezos Korea team, featured in the Tezos in Asia Podcast. To learn more, check it out here Joyce Yang Welcome to Tezos in Asia; a series featuring and showcasing the growing Tezos communities in Asia. I’m your host Joyce Yang, founder of Global Coin Research. Follow me in my journey in exploring and meeting the various Tezos communities in Korea, Japan, Southeast Asia, China and more. Learn about the crypto happenings in each of these countries, the cultural backdrop and regulatory frameworks, and what these communities are doing locally. In this episode, I speak with the team members from Tezos Korea and Tezos Korea Foundation. If you haven’t already, I encourage you to check out the introduction episode of this series where I speak to the founder of Tezos, Arthur Breitman, and another member of the Tezos community, Diego Olivier Fernandez Pons, to learn about the thought behind these Tezos communities. In this episode, I first speak with Doo-Won Suh, Director of the Tezos Korea Foundation and Jinwoo Lee, Chief Strategy Officer of Tezos Korea, about the Korea team’s background and its approach to community building in Korea. In a separate conversation following, I speak to Jinhwa Kim, a board member of Tezos Korea foundation and also the former founder of Korbit, a leading Korean Cryptocurrency Exchange, about the Korea crypto and regulatory landscape overall. I first started the conversation with Doo-Won and Jinwoo introducing themselves. Doo-Won Suh Hi, my name is Doo-Won, and I am the director of the Tezos Korea Foundation. Jinwoo Lee This is Jinwoo who’s working for Tezos Korea. So I’m working as Chief Strategy Officer at Tezos Korea. So be sure that the Tezos Korea Foundation and the Tezos Korea are different organizations. So the Tezos Korea Foundation do more like non-profit things for like talent development and to enhance the technology for Tezos in local countries like in Korea. And Tezos Korea does some consulting services and the POC (Proof of Concept) things for some business clients. Joyce Yang Can you talk a little bit more about how you guys got involved into Tezos in Korea? Jinwoo Lee So me, Doo-Won and the other team members didn’t know each other before we knew the Tezos. So actually we started as some crypto researchers and like kind of investors at the first time. So actually Doo-Won created some Tezos Korea community in Korea first, so we can say he’s kind of founder of the Tezos Korea Community. So after that, he did some regular events in Korea like studying some Tezos technology and like inviting Tezos people from overseas to show the Tezos to the Koreans. So with his effort and some endeavor, Tezos foundation started to think about like it’s better to support the Tezos Korea community to make some strong organization. So that’s the reason how the Tezos Korea Foundation is founded in Korea. So it was last August. So after the creation of the foundation, I met Doo-Won, he told me about like how Tezos community and ecosystem is strong and why this has some future potential. So that’s how I engaged with the Tezos Korea Foundation, so I joined this team. That is quite some short story of how we met, how we started. Joyce Yang That’s great. What are your backgrounds before you got into Tezos? Doo-Won Suh I used to be an architect and also designer. So I love doing some infographics. I used to architect. I was drawing some plans for building a house, and also I liked to create Interior Design. Joyce Yang So what about you? Jinwoo Lee I used to work as some global talent development manager at Samsung Electronics. So I did some global leadership training and global technology training to the employees. So with those backgrounds, that’s how I lead and brings me to the crypto and blockchain worlds because I love the new technology things. So this is how I got engaged in the blockchain. So after that, I know that like Tezos get started, it was 2 years ago when they did a ICO, so that’s how I knew it first, so I also participated. Anyway, so those are kind of some small points that lead me to this team. Joyce Yang You guys have made a lot of progress since starting the team in August, and you guys have been very fast and very good about making partnerships and forming a community and doing events here. How did you do that? Jinwoo Lee As you know, Tezos is a blockchain smart contract platform with really high technology like OCaml or Michelson. But it can also be a barrier for the general people to learn and understand it. So we thought that the target of the audience is not just some general people, we thought the target was developers who already had some software background. So we tried to introduce those technologies to people. So because the developers are really like the new technology and new things, they love to learn something that we…. So we met some professors in the Seoul National University and Yonsei University, so we met some Professor Kwangkeun Yi in Seoul National University who is an expert of OCaml in Korea, so we talked about that. Tezos is blockchain based on OCaml. So if you teach people, it will be a some really good opportunity to introduce Tezos to some software developers. So that’s how we started the Tezos blockchain camp with him. So with this approach, we are able to invite the professors from Seoul National University and Korea University and Henan University who are experts in OCaml. So that we did some 7 days Tezos Blockchain Camp with some developers and students. We had a strong vision that to enhance the Tezos ecosystem in Korea, we have to train the developers in Korea. Doo-Won Suh We always try to introduce this technology. Joyce Yang So how much of Tezos do you talk about when you have OCaml camps? Jinwoo Lee So the name of the camp is the Tezos Blockchain Camp. So it has some 3 key topics on the curriculum. The first one is like learn OCaml, and second was learn about Tezos and Liquidity, and the last one is to learn blockchain business model. So with this curriculum, people learn about what is Tezos and why Tezos uses OCaml, and they also learn about what is the future of the OCaml? What is Liquidity, which is also the same functional language as OCaml. Doo-Won Suh Also why Tezos is a good technology. Jinwoo Lee And so we give a lesson to the student on how to build a smart contract on the Tezos platform. Joyce Yang That’s very cool. How many students have you been getting? Is it mostly students? Doo-Won Suh Almost 50% of students. And the others as well. Jinwoo Lee So there were one 130 applicants, and we selected 60 people from that. So the demographic is about 60% who are students who majored in software or computer science. And the remaining applicants are developers in the company who really work on the business side. Jinwoo Lee And then like 90% of the participant could be able to get certification. Joyce Yang For OCaml? Jinwoo Lee For the Tezos Blockchain Camp. Joyce Yang What do they have to deliver at the end of the camp? Do they build a smart contract on Tezos? Jinwoo Lee Yes, so they experience how to build a node and how to make some smart contract on the Tezos. Doo-Won Suh And the beginning concept of OCaml. Joyce Yang Yeah, for sure. Jinwoo Lee So our next plan is to make us some advanced class. So it’s focusing on the Liquidity, the smart contract language of the Tezos. So we are trying to make some new intensive course for the Liquidity training. Joyce Yang Do you write those on your own or do you work with professors to come up with the curriculum? Jinwoo Lee So we have one of our team members who is here with the Tezos Korea, so his background is a developer in Samsung Electronics. He teaches what is Tezos and how to build a smart contract with Tezos. Joyce Yang How is OCaml received in Korea? Is it a very new language and not many people know about it? Doo-Won Suh So in Korea, OCaml is not popular yet, but I think OCaml is growing. Jinwoo Lee So like undergraduate students, there are many undergraduate students who didn’t know about OCaml, but there are some graduate students who’ve heard about OCaml. So with the professor, we are trying to say that why OCaml is strong, why it is safe, and why it is secure. So with those features, students get more engaged in the OCaml world. Doo-Won Suh It is growing. Jinwoo Lee So we also said that the average salary the OCaml developer is quite high. Joyce Yang Yeah, I’m sure. It’s a very highly sought out skill. Jinwoo Lee And also there is recruitment for the developer, functional programming developers recruitment from Amazon or Facebook and Tesla. So we tell them, this is a new opportunity for you. You are using JavaScript, C sharp or Python, but this is quite new a language for you. So this is a new chance. Joyce Yang Yeah I mean, it’s great to know another language. And then also, not an easy language to learn. What are you guys looking to do this year for the Tezos community in Korea and what are your goals? Doo-Won Suh Yeah, we are planning to train 200 local developers. We are planning for that this year. Joyce Yang Are there more partnerships with schools that you’re doing or with companies that you’re doing here? If it’s in development, you don’t have to talk about it. Are you guys looking at working with more schools what companies? Jinwoo Lee We love to work with like university professors so that we can do more academic research on the Tezos and the potential of Tezos. So that is our goal. Joyce Yang This is a very unique approach for a lot of projects from U.S or Asia that are working with the education aspect. Jinwoo Lee What I found is like there are so many developers and students who already know how to make a smart contract like in Ethereum using solidity, but there were only a few people that know Tezos. and they even don’t know like what is the smart contract writing on Tezos. So our goal is like as I said, to train 200 local developers in Korea. So that with this, we can enhance the Tezos Korea developer community. This will be like some milestone of it. Doo-Won Suh We believe Tezos is a more serious and scientific project. I mean, blockchain project. So we love to talk to the professors at the local universities, and also professors love to talk with us because this is a scientific project. Joyce Yang And what is the general sentiment about cryptocurrency and blockchain in Korea overall now? Jinwoo Lee Do you mean like their feeling or so on the blockchain? Joyce Yang I think Korea was always the place where people heard about the Kimchi premium, people trading a lot on the exchanges. But what about the developer community? Can you talk a little bit more about that? Because that’s something I think it’s very interesting. Jinwoo Lee So there was a statistic, I don’t know whether this is true or not, out of 50 million of the population in Korea, 5 million people already invested in the crypto; this is really a huge ratio. Joyce Yang Do you think that’s true like if you think about your friends? Jinwoo Lee I think I already found some articles that say so, but that compared to the ratio of participation or investment, like serious approach, researching or developing the blockchain industry is quite low. I think because many people think that crypto or a blockchain as a way of making money. So yesterday I heard from someone that there are many unicorn companies like in Silicon Valley, which by valuation is like really huge, but they have a layer product and services to the customer. But in crypto, it’s hard to find some real serious products or services, which give some value to the customer, but the value isn’t quite the same or similar. Joyce Yang For a crypto company in a technology company in Silicon Valley. Jinwoo Lee So it’s quite nonsense. Jinwoo Lee So I think this is a time that we have to do more researches and find the use case and have so many trial and errors, so to develop the industry. Joyce Yang Are we there yet in Korea where we’re seeing projects being built and use cases being built on Tezos? Jinwoo Lee In Korea, there were some trials. So there were some business clients contact us about how they can use the Tezos on their services. So we are still talking about it like how this is how Tezos Korea works. Give us some consulting services. Joyce Yang Okay, and just going backward, so Tezos Foundation is separate from Tezos Korea. How big are the teams each? Jinwoo Lee We cannot say how big it is because…. Let’s talk about how small it is. Doo-Won Suh Tezos Korea Foundation has 6 directors including me. Jinwoo Lee And Tezos Korea company has 2 members including me. We also have a plan to recruit more people into Tezos Korea. Joyce Yang I’m sure you’ll be very busy. What of the upcoming events that we should anticipate in Korea? Doo-Won Suh We are planning a Liquidity academic course to local developers. I think this is the next one. And the other one is some Tezos Asia Leadership Summit. This is a private event for the Tezos Asia Leaders in Korea, Japan, Singapore, Hong Kong, China. So bring them together and discuss our plan in Asia. Joyce Yang These are for leaders, for you guys only. Doo-Won Suh Yes, that’s correct. The last one was Hong Kong last September I think. Joyce Yang So you guys all take turns to do events around Asia? Jinwoo Lee Last one we did it in Hong Kong, and this time is in Seoul. Joyce Yang That’s great. Before the community event, you will be having this Liquidity bootcamp. And then will you be doing other things in the plans this year? Jinwoo Lee So we have a plan to do some competitions targeting the students. Joyce Yang Like hackathons? Jinwoo Lee Yeah. So like using blockchains whose services can be provided to the industry, those things. And then we also have some collaboration with a local university. Actually, in Korea, we have some blockchain research club in the university. So we have Sungkyunkwan University which is a Top 4 university in Korea, they have some blockchain club, so we are giving some grant to them. So they’re doing some studying and researching aroundTezos. Joyce Yang Now, in a separate conversation that happened the following day, I spoke to Jinhwa Kim, a board member of Tezos foundation and also the former founder of Korbit, a leading Korean cryptocurrency exchange, about the Korea crypto and regulatory landscape overall. I first also had Jinhwa Kim introduce himself. Jinhwa Kim My name is Jinhwa Kim and I was a co-founder and COO of Korbit which is the first Korean won to Bitcoin exchange. And we founded Korbit in 2013 and we started our service in June 2013. And last year, we sold our company to Nexon Holdings and after that, I founded the Korean Blockchain Association, which includes most of the Korean Exchanges like Bithumb, CoinOne and Upbit. We have a hundred companies as members and including 20 more exchanges in Korea. So we founded the Association last year and I’m still one of director and board members of the Korean Blockchain Association. So actually since 2015 or 2016, some of Bitcoin exchanges and we made a forum for negotiation and discussion about the industry with Korean government officers, and we have discussed how to make laws and how to make regulations here. And also, we have talked with many congressmen so now in Korean Parliament, there are many congressmen who are interested in cryptocurrency and blockchain. And the congressmen have their own table in Parliament now. So I was a startup-founder and also have been the spokesman of our industry and I have talked to the government sector since then. Joyce Yang Yeah and we’re meeting each other at Tezos Korea event. And are you involved with Tezos as well? Jinhwa Kim Oh yeah. I was invited to Tezos last year when Tezos Korea Foundation was founded and started, I joined as one of the board members. And as I mentioned, I think that their approach is very healthy and very long-term view. So I hope a project like Tezos should have strong attention in the Korean industry, so I want to help them. Also, I’m an adviser to some project and funds like Signum Capita in Singapore. And a few projects, I’m involved as an adviser. l Joyce Yang What was Tezos approach that was very unique for you? Jinhwa Kim I think in my opinion, Tezos’ approach, attitude and strategies are that they have people first. Their first priority is in my opinion that they are focusing on training people, training developers and help developers to be accustomed to their coding language, programming language, and their development environment structure. Also, I think Tezos is very good at making and empowering communities. I think not many projects are interested in that kind of long-term activity, especially in Korea. Their priority and their interest are only focused on raising money, but Tezos is quite different for me. And when I met Diego and Arthur, they are very sincere to me, so I can trust them, I will help them. Joyce Yang And you said that they give a lot of empowerment. Is it because of a lot of independence that they let you run the community the way you like to do? Jinhwa Kim Yeah. Joyce Yang So you guys have a lot of freedom and you get to appeal to the local Korean community. Jinhwa Kim Yeah, I think so. They do not give specific directions to communities and to the people involved in the Tezos project. They provide responsibility and right. Both, they provide both to them. Now I’m just doing a few things as a board member. I’m not actively participating in their community things or Foundation things. But Doo-Won and other full-time members are very supportive and devoting themselves to…. They’re very good guys. Joyce Yang So how do you see the Korean community evolved in the cryptocurrency world? The regulators are opening up and learning more about cryptocurrencies as well, and Korea is one of the first Asian countries to really be getting into learning about cryptocurrency from the regulators' point of view. Jinhwa Kim Korea is a very energetic country. The whole country is full of energy and dynamics, so yeah I think there are many talented youths, talented young business guys here in Korea, they’re working very hard studying this technology. You know, our country Korea is very high in education and there are a lot of clever people are here, but there are many talented and passionate people, young people especially, studying and developing knowledge of this technologies. So that is a very strong point in my view. When I visit Japan and now I’m living in Boston, very few people are interested in actually. As when I visit New York, only some tech guys and some Wall Street guys are interested …. I think in Korea, a huge number of people have passion and also study hard. That’s a strong point. Joyce Yang To learn more about Tezos and the Tezos communities, make sure to check out the website links listed below and follow Tezos on Twitter. This podcast is produced by Global Coin Research. Disclosure: Joyce Yang is a consultant to Tocqueville Group, a Tezos protocol company.

Tezos Korea Team on How to Build Great Local Developer Communities in Korea

I’ll let you in on what I have learned the hard way, in Indian Crypto world after RBI cutout banks to deal with cryptocurrencies. Will talk about P2P and at the end how to trade cryptocurrency in India. Earlier on Feb 2018, RBI (Reserve Bank of India) declared cryptocurrencies as not a legal tender. They cut-out bank accounts who are dealing with any cryptocurrency trading. People started withdrawing all of their money from the cryptos assuming the end of the crypto in India. I also did the same. But I knew, what will happen. The exchanges will find a way as they know people are addicted to it. Addicted to instant profits. As per India Today article released on Jan 19, 2018 Its survey revealed 0.6 million active cryptocurrency traders in the country (unofficial figures put this at several times more) in nine cryptocurrency exchanges. Up to Rs 17,800 crore has been traded on these exchanges. Reports quoting the survey said a 25-year-old, who had invested Rs 25 lakh in bitcoins, has seen the valuations of the currency he held multiplying to Rs 760 crore. 17,800 crores. Interesting isn’t it, which is definitely not a small amount. So, what has changed after RBI declaring it as not a legal tender? Previously, the cryptocurrency exchange websites like Koinex, Bitbns, WazirX deal directly with banks. And hence the banks knew that the money is used to buy cryptocurrencies. — They pay money to the exchange websites. Exchange websites take it to their banks and once the buyer purchase coins they transfer that money to the seller’s account. — To sell their coins, they transfer their coins to exchange websites. When a seller sells the coins the money is credited to seller’s account by the exchange itself. Buyers Sellers The diagram below describes the how trading is done before: So, previously, all the money went through the exchange website’s bank account. After RBI ban, what bank did is, stopped all the bank accounts transactions which are dealing with cryptocurrencies. P2P(Peer to Peer) explained: P2P or Peer to Peer is a way in which the buyer directly pay to the seller’s bank accounts. As these transactions amount are small, the banks can’t find out what this transaction is for. Hence, a win-win situation. This diagram will show how trading is done now using P2P: From: thecryptotrackers.com — Seller sends all his crypto, to the exchange that he/she wants to sell. Now seller will request to sell his/her cryptocurrencies. Anyone interested will directly transfer the money to seller’s bank account. Once both seller and buyer confirm that a payment has made. The exchange will send the cryptocurrency to the buyer’s wallet. Seller Exchanges from where you can buy cryptocurrencies in India: — Best platform for P2P. Everything is well-automated and easy makes it very reliable. The support team is very good. WazirX Fees 0.25% — Early bird, great features, P2P service is same as LocalBitcoin. But you can still trade without P2P using Koinex. That’s the greatest thing of all. The support team is very good. Koinex(Get Rs 50 on first trade with this link) Fees 0.15%. — A worldwide jaw-dropping awesome platform. There are several options to send/receive the payments. You can even buy/sell crypto with cash, in-person. Still not automated, you have to request for buys and sells, you have to deal with people with chats and all. Time-consuming and sometimes irritating. Mentioning in this list as it does what it needs to do. Hard for beginners. LocalBitcoin Free trading, LocalBitcoins users who create advertisements are charged a for every completed trade. 1% fee Bitbns It doesn’t end there. If you want to trade more coins you should sign up for other exchanges such as . Binance I have used all these exchanges, filled KYC, traded with them, killed myself several times and hence found best of them. I prefer WazirX, Koinex and then LocalBitcoin. While Binance has no match. References: https://www.indiatoday.in/magazine/up-front/story/20180129-bitcoin-cryptocurrency-india-coinone-bithumb-1149368-2018-01-19 _As RBI (Reserve Bank of India) declared cryptocurrencies as not a legal tender and stopped banks to deal with it…_thecryptotrackers.com How to buy cryptocurrencies like Bitcoin, Litecoin, Ripple in India after RBI ban — The Crypto…

How P2P works and India‘s best cryptocurrency exchanges

Image Credit: Chat Karen Studio / Shutterstock ( ) originally published in VentureBeat on July 14, 2018 as “Why South Korea is ‘crypto crazy’ and what that means for the rest of the world” South Korea is truly crypto crazy. While the country has less than 1 percent of the world’s population, estimates indicate it is responsible for 30 percent of all cryptocurrency trading in the world. Steve Lim, CSO of South Korean crypto exchange Coinone said in an : “People are crazed over it. Grandpas and grandmas come to our office lobby and say they want to put [in] half a billion won ($447,000). We ask them how they heard about us, and they say, ‘I heard about you through a friend who invested a couple thousand and made a killing, and I want to do it too’ … but they have no idea how to use the app or email.” interview last year Image Credit: Marc Bruxelle / Shutterstock South Korea is the only nation were investing in cryptocurrencies is truly mass market. Housewives, grandparents, millennials, boomers — people from every age group — have invested in a cryptocurrency. Some estimates state at least 30 percent of South Koreans have invested in them. Simon Kim, CEO of Hashed (Korea’s leading crypto fund) told me that number could be as high as 50 percent among white-collared professionals. Comparatively of the population has invested in a cryptocurrency. a recent study in the U.S. estimated that 8 percent While people in other countries may be hesitant to take the leap on something so new and unproven, South Korea has a track record for quick adoption of new tech offerings — even ones that are truly culture-changing. Koreans created the first online microtransactions and MMORPGs (1996 by Nexon), social networking (1999 by CyWorld), one of the first major VoIP companies (Dialpad Communications founded in 1999), and mobile messaging content distribution (2010 by Kakao). South Korea has also been the worldwide leader in broadband technologies and adoption since the late ’90s and the leader in wireless technologies and adoption. So it isn’t surprising that South Koreans would move so quickly into cryptocurrencies and blockchain technology. Some people have cited Korea’s economic factors or job security issues of young people in South Korea as the causes of this crypto craze without really knowing how deep and long Korea’s history with virtual currencies has been. South Korea’s crypto craze is based on a foundation of ubiquitous technologies and a strong and wide early adopter base in this country of 50 million. When I lived in Seoul from 2000 to 2004, as an American, I assumed each of these technology crazes were due to some “Asian quality” or extra geek factor that coursed through their veins. When I first witness micropayments of 50 cents within Nexon’s virtual economy and Hangame’s casual online games, I said to myself, “Only in Korea or Asia could this happen. Americans would NEVER pay 50 cents for such services.” Around 2001, when camera phone sales exploded in Korea, once again I said, “Only in Asia would people be taking pictures like crazy with their phones!” Hollywood movie imagery of Japanese tourists being camera-happy filled my mind. I simply couldn’t imagine Americans taking to camera phones in the same way that Koreans and Japanese had. But American consumers proved me wrong. Soon after I came back to the U.S. in 2004, the camera phone market exploded here as well. Image Credit: Jacob Lund / Shutterstock I moved to Korea in May 2000, years after leaving as a toddler, to launch HeyAnita Korea, a voice portal (think Siri over landlines), with Jimmy Kim (my cofounder at ) and fresh money from Softbank. That same year I met David Moon, who became a good friend, and learned he was working at a startup, founded by a first-time entrepreneur Beom-Su Kim, called Hangame. Hangame was a Korean online gaming company that pioneered microtransactions through casual games. When I worked at a boutique investment bank in Hong Kong, both Hangame and Nexon became my clients in 2001, so I became further engaged beyond my personal relationships. SparkLabs Group Hangame was charging users a fee of less than a dollar to do things like extend playing time, get power-ups, and host private group games for its stable of casual online games, such as Battle Tetris, blackjack, chess, and pool. In 2001, Hangame’s revenues hit $30,000 per day on micropayments of 50 cents on average. Within a year, that number had risen to $80,000, and by 2004 revenues per day exceeded $254,000 and accounted for more than $93 million for the year. The in-game currency people had to purchase was called Hancoin, and by this time over 50 percent of the population was using Hancoin and becoming conditioned to the alternative reality of virtual currencies. Over 25 million of South Korea’s 50 million population became comfortable with the notion of a virtual currency having real value and the ability for people to earn money through trading platforms and black markets. It was a real tangible asset for many Koreans even to the point where grey markets were becoming rampant. As early as 2001, Korean gangs were creating trading businesses around Hangame and Hancoin. I asked David Moon to recall the story he told me the first 17 years ago: “We first realized Hancoin had become liquid in secondary markets around the summer of 2001. One day a contingent of square-headed gangsters barged into our offices, back when we only had about 20 employees, and proceeded to throw fire extinguishers around and kick over water coolers. They claimed to have come on behalf of some disgruntled users and demanded that we reactivate dozens of accounts that had been suspended for suspicious activity. When we got over the shock of the incident, I could only marvel at how enterprising and tech-savvy even gangsters were in Korea.” During 2001, Hangame merged with Naver, Korea’s leading search engine, to become Korea’s leading Internet company, NHN Corp (which is also the parent company of LINE, which recently announced it is launching a cryptocurrency exchange). David Moon eventually became Head of Corporate Development at NHN. and then leave in 2009 to launch Kakao, Korea’s leading mobile messaging platform. Beom-Su Kim would eventually become CEO This merger made Hancoin even more ubiquitous as this virtual currency would become the foundation for South Korea’s cryptocurrency craze. This is a nation where virtual trading, of items and currencies, has been in existence for over 20 years. Two generations — maybe three — have been comfortable with this idea of virtual currencies. So it’s no surprise Koreans have been so quick to invest in cryptocurrencies. Last year, South Korea was the third largest market for Bitcoin trading and the largest market for Ether trading in the world (it accounted for at least 35 percent of Ether’s global trading volume). The country has also been quick to adopt the tech powering such currencies. Large companies from Hyundai Motors to Samsung have integrated blockchain technologies in their enterprises — and these are not just pilot projects. While government officials in South Korea hammer out and hopefully will soon define a regulatory framework for cryptocurrencies, the people and companies of South Korea have become the doers of the crypto world. I believe that, once again, South Korea is a global trend indicator for the permanency of a new technology. From online microtransactions to social networking to camera phones, cryptocurrencies and their underlying technology, blockchain, are here to stay. The pump-and-dump schemes we’ve been seeing with cryptocurrencies, and the short-term mindset many investors in this space have — will pass. Especially once major nations (top 20 OECD nations) launch their own cryptocurrencies and major institutions become truly active within this market. I believe most alt coins will disappear and only the top 10 to 20 will remain, alongside national cryptocurrencies. Then they will become as commonplace as mobile phones and a Neymar injury in a soccer match.

Why NHN’s Hancoin is the ‘Godfather of Korea’s Crypto Craze’ and Why it Signals Crypto Forever

Thailand developing digital currency; Bitmain mulling IPO, Binance AMA and bank in Malta; Vietnam potentially ban mining equipments; China Central Bank reducing “financial” risk To get the latest alerts on China and Asia Cryptocurrency happenings, subscribe to our newsletter below. It’ll be a quick, hassle-free update to your inbox daily. 🌟 Top News Thailand Central Bank governor alluded to developing a wholesale central bank digital currency in the country’s wider efforts to push blockchain development. http://bit.ly/2Jm7hWs Binance sets up bank account in Malta. http://bit.ly/2sNI4x8 We asked questions on behalf of our readers at the Binance AMA who couldn’t make the event. The AMA was packed with great questions and answers, check it out here Bitmain is mulling an IPO. The company booked $2.5 bn of revenue last year and cofounders Jihan Wu and Micree Zhan together own about 60% of the business. https://bloom.bg/2JsjrNi Vietnam’s Ministry of Finance has officially proposed that the country bans the import of cryptocurrency mining equipment. http://bit.ly/2JrW46V **Chinese Media** Central Bank’s Shanghai deputy director claims that China has successfully suppressed Cryptocurrency exchanges and ICOs, reflecting the effectiveness of the country’s ability to prevent financial risks. Google Translated link Coin and Exchange News South Korean police department has said it will recommend bringing charges against cryptocurrency exchange Coinone over its provision of margin trading. http://bit.ly/2JnywzL 💼 Business News Forbes lists the richest from South Korea with many of them making their money from Crypto. Find out what Kimchi Premium means. http://bit.ly/2Jmeq8 Bad Packets Report has found that the US-China Association of Commerce website is stealing visitors’ computing power to mine cryptocurrency. http://bit.ly/2JoYCma 🏢 Macro and Regulation Watch Some cryptocurrency exchanges in India are filing pleas to reverse India’s Central Bank ban of cryptocurrency exchanges and other crypto-related businesses. http://bit.ly/2Jslgd6 📅 Upcoming events EOS Jun 9: EOSHackathon in Hong Kong Ontology Jun 29: Block Co + Conference, TokyoOntology Jul 15–19: Microsoft Inspire, Las Vegas Vechain Jul 19: Distributed 2018 Conference in San Francisco

Today’s Crypto News on Asia — June 7th

South Korea is the 11th largest economy in the world. It is home to tech giants like Samsung, Hyundai and Kia. The country boasts of a highly educated economy. But as of 2016, its underemployment rate stood at 38 percent that led to many in working jobs that they were overqualified to do. Even individuals with an impressive employment track record found it difficult to afford the average rent of 426 million Won ($400,000). The rising cost of living and the unavailability of an alternate way of earnings had sent the tech savvy millennial into a feeling of depression and hopelessness and making them believe that they won’t fare better than the previous generation. All That Glitters Is Gold….(At Least For The Koreans) Few in Korea started early in cryptocurrency but it wasn’t until Lambhorgini with “BITCOIN” written on their number plates hit the roads, the fact that “virtual currencies are actual money” and not just some stupid “nerd money” started sinking in to the Koreans. The interest in cryptocurrency for Koreans enormously spiked in the late of 2017 amidst the cryptocurrency prices soaring sky high. A report suggested that Koreans invest in cryptocurrency and most of them were between the age of . The word, “ To the Moon” and “Lambo”, spread out fast, all thanks to the super connectivity — a Korean teenager uses their mobile device for more than 4 hours a day, all homes have internet access and 88 percent owns smartphones. 3 out of 10 20–30 years This interest has been largely attributed to 3 reasons: 1. The flashy life of early crypto traders. 2. The current system of the society where Korean millennial believed that they won’t fare financially better than their parents or grand parents. 3. Lack of alternative investment options. For many Koreans this was a gateway to a better financial world and in their own words “ ” I finally wouldn’t end up dying paying for an apartment and a car that i didn’t like A Worried Government Starts The Crackdown While Koreans were living their own version of ‘The American Dream’, the atmosphere inside the Ministry of Justice office was tensed. Minister Park Sang-Ki and his officials were disturbed by the speculative nature of cryptocurrencies. Many of them considered it to gambling and a system that facilitates money laundering and terror funding. While there were murmurs of the government’s uneasiness, it wasn’t until September of 2017 that things took turn for worse for crypto traders in the country. The first hint of governments displeasure with cryptocurrencies came with the proposed ban on ICO in September. Timeline Of Regulatory Crackdown On Korean Exchanges — Officials hints on proposing a legal amendment to prohibit all ICOs. September 29, 2017 — Bans minors and non-resident foreigners from trading. December 13, 2017 — National Tax services and police raid offices of Korean exchanges Coinone and Bithumb. January 9, 2018 — Justice Minister Park Sang-Ki hints on drafting a legislation that would shutter all virtual currency exchange. January 11, 2018 BTC rate affected after the legislature announcment on Jan 11 — Banned use of anonymous bank accounts for virtual coin trading. January 30, 2018 — Korean exchange UPbit raided over money laundering issues. May 11, 2018 Did The State Fail Its Millennials? The prices of cryptocurrencies tanked down significantly after the January 11 proposal of the Justice Minister to ban cryptocurrency exchanges. People got worried and started exiting the market. The future of cryptocurrency and its investors seemed gloomy in Korea. A lot of them had pledged their homes to buy cryptocurrency and now had to sell it for losses. . There was an increase in the number of patients visiting psychiatrist, the trauma was termed ‘Bitcoin Blues’. Families were broken and often lead to divorces This led to a surge in the number of suicides reported due to losses in cryptocurrency investments. Why Is Korea Important To Cryptocurrency? Korea is a country obsessed with cryptocurrency and has over 2 million traders. The cryptocurrency prices in Korean markets were at a 51% premium over its American counterparts. The country is home to one-third of all major crypto exchanges. In fact, the Won is currently the third most traded currency for Bitcoin accounting for over 5% of all BTC trading. At some point, it was the highest traded currency for Ethereum. Even the central bank had to refrain its staff from trading cryptocurrency particularly during work hours. The overall growth and adoption of cryptocurrency market heavily relies on how Korean regulators treat it. An outright ban could be a major blow to the industry. However, the regulators seems to be taking a softer stance towards cryptocurrency and talks are being held over regulating ICOs in the country. If confirmed, this could be a huge boost and might even shoot up the prices the of cryptocurrencies globally. About CoinSwitch is the world’s largest cryptocurrency exchange aggregator. It provides exchange service of 300+ coins and over 45,000+ pairs from leading exchanges like KuCoin, Bittrex, Cryptopia, ShapeShift, Changelly, and Changer. It provides an easy way for users to trade coins across multiple exchanges based on price and reliability. CoinSwitch.co Please do write us to if you have any queries. support@coinswitch.co Join our to stay updated on new coin additions and other updates telegram group Happy Switching :)

INSIDE KOREA’S CRYPTOCURRENCY DRAMA: SUICIDE, DIVORCES AND BROKEN HOPES

What problem is YGGDRASH trying to solve? Referring to itself as Blockchain 3.0, YGGDRASH dreams of a world where every product and service is connected. It is a trust-based multi-dimensional blockchain ecosystem where each branch is governed by reputation to ensure integrity. It was built with a vision to “digitize everything into reality” and to connect everything and any blockchain networks. Users will also be able to develop their own blockchain networks and branch chains using their branch chain starter kit. The YGGDRASH ecosystem is coming out with decentralized exchange, allowing investors to use a fast and secure crypto exchange without moving funds to a third party platform. In turn, this will prevent hacks such as the ones that happened recently. Why is it called YGGDRASH? YGGDRASH is a combination of the two words, and . Yggdrasil is a massive mythical tree that dates back to the 13th century. This tree was considered holy as it connects wells of the world from the underground to the heaven. Hash stands for hashed values used in blockchain transactions and networks. Yggdrasil hash Essentially, YGGDRASH is a channel that aims to connect all blockchains using a trust-based . multi-dimensional blockchain The YGGDRASH Ecosystem YEED — The Main Currency of the Ecosystem YEED is the main currency of the ecosystem, and one of the tools used to maintain the network, also working as a means of transaction.Biggest reason of its existence is to connect and maintain the blockchain networks on the YGGDRASH ecosystem. Whenever a new blockchain is created it is not automatically registered to the stem chain. YEED tokens are used to connect the blockchain to the main network and YEED will be gradually consumed over time to maintain the network. “Stem Chains” and “Branch Chains” The Stem Chain acts as the main root of the blockchain, aggregating and interacting with all Branch Chains that are connected. Branch Chains can be an independent blockchain or a dApp, with the ability to have its own governance system. The whitepaper notes that a Branch Chain should not be compared with Side Chains, as they are fundamentally different. Sacred Water — Reputation Score Evaluation Chain YGGDRASH has a reputation score evaluation chain called sacred water, which incentivizes users to perform beneficial activities & contribute on the network while limiting malicious users. The higher your reputation score the greater the benefits you can get, one of them being a lower fee. With a high enough reputation score, you won’t have to pay any fees when using the network. This system is similar to how people with high credit score don’t having to pay fees when using certain services of a bank. In order to earn a higher reputation score in the YGGDRASH ecosystem, users need to contribute and invest time on the network. Sacred Water Fountain — Reputation Score Creation Chain Working in conjunction with Sacred Water, the Sacred Water Fountain is the name of the ecosystem’s reputation score creation chain. It is essentially an algorithm designed to increase the score of users whose beneficial activities are detected in the ecosystem. In addition to this, YGGDRASH will run a system to monitor and punish users who intend to obtain a reputation score maliciously. Benefits YGGDRASH has over its Competition “Zero” Network Fee — Reputation Scoring System Yggdrash adjusts the current fee structure of blockchain by applying reputation. YEED is a crypto-currency and plays as one of criteria to evaluate reputation. The consensus algorithm of YGGDRASH gives authority to people with high reputation. YEED will evaluate the reputation of users and those who have good reputation will not need to pay for “likes”. This feature is essentially a parallel to the rationale that individuals with high credit score pay less fees on transactions while companies with solid financial structure receive higher credit ratings. Minimization of Block Data Size The YGGDRASH ecosystem uses Akashic Records & Block Box to minimize the size of block data. By doing this, they solve the problems current blockchains have including data capacity issues and throttled block synchronization speeds. This downsizing of data will significantly reduce efforts preparing node and shortens the delay from several days to less than an hour. This is considerably faster compared to the download of a full node for Bitcoin taking 14 days, and 7 days for Ethereum. Delegated Proof of Authority (DPOA) The consensus algorithm of YGGDRASH is a delegated proof of authority, which is a reputation-based algorithm. With DPOA, the ecosystem selects nodes with the highest reputation score as a representative through the reputation evaluation chain. DPOA assures independence, incentive, and expandability while increasing connectivity. Each DApp is an Independent Blockchain One Dapp in the ecosystem is an independent blockchain, so essentially each dapp maintains network, governance, database, and service of its own. An overload on one Dapp will not affect the other networks. This improves data capacity, speed, and expandability. An example of what YEED improves on is comparing it to Ethereum network when the network was paralyzed due to the heavy network traffic from Crypto Kitty. YGGDRASH Decentralized Exchange YGGDRASH is coming out with its own decentralized exchange (DEX) where users on the network can trade cryptocurrencies directly in their personal wallet. Interoperability is guaranteed on this multi-dimensional blockchain, as YGGDRASH can connect blockchains with other blockchains created at a different time. They do this through Akashic slice, a chain connection protocol. Integrated Cross-Border Payment Provider The ecosystem is working closely together with Bluepan to improve remittance environment in the ecosystem. YGGDRASH will essentially play a role as an integrated cross-border payment platform provider. Blockchain 3.0, Building Upon Ethereum’s Weaknesses YGGDRASH calls itself Blockchain 3.0, expanding upon and minimizing the weaknesses of the Ethereum ecosystem. Its main competitor is Ethereum, a “second-generation blockchain”, as well other blockchain platforms such as EOS, ICX, 0Chain, etc. Currently there are a number of issues with Ethereum including: Limited scalability because all DApp data is processed in the single blockchain Limitation of the economic incentives similar to that of Bitcoin High gas fees YEED solves these issues as each DApp on the network has its own blockchain, giving them much greater ability to scale. Fundamentals The Team YGGDRASH consists of a solid team with members coming from previous reputable blockchain companies such as ICON, Bithumb, Coinone. The team also includes advisors from the top schools such as Carnegie Mellon, and Berkeley. — Previously: COO of Coinone (a mid-sized exchange in Korea), Project Manager at Meritz Securities David Seo (CEO) — Previously: Co-founder / Development Team Leader at ICON Foundation (ICX), Blockchain Architect at THELOOP Peter Ryu (CTO) — Previously: MBA Candidate at UC Berkeley, Ernst & Young Korea, Ernst & Young China Shanghai, Hyundai Card/Capital Joon Seo (CFO) The YGGDRASH advisory team is stacked with executives from Hyundai Capital, HSBC, Citibank, Samsung, and many more reputable companies. The extent to which how involved these advisors are in this project is unclear at the moment. In addition, the company is allegedly partnered with Bluepan, the largest player in the remittance market. Target Market YGGDRASH aims to target industries to industries, connecting different DApps and blockchain networks together. They are also targeting individuals and companies. Example Use Case: Ride Sharing Peter sets a business meeting on his smartphone with a certain location and at a certain time. When he leaves the building, an unmanned vehicle is waiting for him. When he gets in the car, it drives him to the location via an optimal path. Upon arrival at the destination, he gets off the car and heads to the meeting. How does YGGDRASH operate in this situation? As soon as the meeting schedule is set, YGGDRASH (or a DApp), which is installed on his smartphone, calls the nearest unmanned car. When the closest and most reputable unmanned vehicle is assigned, the car immediately arrives at the pick-up point and waits for Peter. The cost for the ride will be uploaded soon after Peter gets in the car and will be paid immediately upon arrival. Right after the payment is made, the reputation of the unmanned car rises and the revenue from the payment is automatically distributed to the relevant account of the unmanned car branch chain. A person who wants to invest in the unmanned vehicle can invest by purchasing a token of a branch chain operating the unmanned vehicle. If Peter does not show up, the reputation score of Peter will be reduced and there will be a disadvantage in cost and time for calling an unmanned vehicle next time. ICO & Tokenomics The ICO for YGGDRASH was completed in less than 24 hours, with $40,000,000 USD raised through private investors and public pre-sale investors. A public main sale was not required. Here at Lunar Digital Assets, we believe that YGGDRASH is a very ambitious and potentially disruptive project, naming themselves blockchain 3.0, improving upon the weaknesses of other major tokens such as Ethereum. The project has a well-rounded, experienced team, game-changing technology, and a great community backing the token. However, they have much work to do, and there will be many obstacles, challenges, and competitors. However, we believe that a speculative holding on YEED could be a very rewarding long-term investment. We are in no way associated with the YGGDRASH team. Neither is this meant to be financial advice. Whatever follows, just reflects our understanding of the project, and our personal opinion on its outlook. DISCLAIMER: Always do your own research. If you liked this content, please subscribe to . You will get early beta access to Lunar Labs, a suite of tools to optimize your cryptocurrency trading experience, as well as the latest crypto news and market updates sent directly to your email. You can also visit our site by to learn more about what we do! our mailing list here clicking here Originally published at lunardigitalassets.com on March 27, 2018.

YGGDRASH (YEED) — “Blockchain 3.0” Fundamental Analysis

1. Financial Services Giant SBI Invests in Crypto Hardware Wallet Developer Tokyo-based financial services giant SBI Holdings has in a cryptocurrency hardware wallet developer specialising in cold wallets. The SBI Group’s financial services division the decision on its website. It now owns 40% of Taiwanese CoolBittX. SBI will use the company’s technology for risk management in areas such as customer assets, as it will benefit its security system. , the company has also discussed the possible creation of its own digital currency for payments and instant P2P transfers. It would be tradeable with Japanese Yen. Lastly, it is not the first time it has partnered with a crypto company — we previously about SBI Ripple Asia, a partnership between SBI Group and Ripple. invested announced Previously reported 2. South Korean Kakao Corp To Launch Blockchain Subsidiary Along With Own ICO South Korean internet company Kakao Corp, owner of the country’s largest messaging app KakaoTalk, is going to a blockchain subsidiary along with its own cryptocurrency. Information is limited, but it has been revealed that the subsidiary will investigate possible uses of blockchain technology. More should be disclosed in two weeks during a . However, it is not the first time the company has produced a crypto-related project. Kakao Corp has already , a crypto exchange supporting over 110 cryptocurrencies. Singapore and Hong Kong are currently as possible locations for the cryptocurrency ‘Kakao Coin’, as South Korea banned ICOs last year. establish press conference launched Upbit under consideration 3. A Chinese Securities Regulator Official Thinks Centralisation Would Improve Blockchain During the “Two Sessions” conference, which took place on Sunday in Beijing, China’s Securities Regulatory Commission’s Head of Technology Unit, Zhang Ye, that a certain degree of centralisation would improve blockchain. The CSRC Official thinks that technological innovations such as blockchain and Artificial Intelligence would bring great benefits to the public sector. However, he added that a certain level of centralisation would be required in order to enable their adoption. When interviewed by Chinese news outlet , Ye argued that blockchain was initially created with a centralised approach. He continued saying that ideally decentralised technologies such as blockchain should be analysed using a centralised architecture. claimed Securities Times 4. Coinbase Denies Any New Listing as Ripple’s Momentum Fades Away We only yesterday that Ripple was the cryptocurrency that started the week with the greatest growth. The rumour about a possible Coinbase listing of Ripple is believed to be one of the reasons for the hike. However, the crypto exchange denied the rumours on . At around 15.00 GMT, Ripple fell by 11.58% to $0.93 (when compared the 24 hours previous). Currently, Korean exchanges Bithumb, Upbit, and Coinone are representing 38% of the cryptocurrency trading volume over the past 24 hours. reported Twitter To receive our daily news roundup in your mailbox, sign up here: http://bit.ly/BlockExNewsRoundup

06/03/2018: Biggest Stories in the Cryptosphere

Having done my research about IOTA ( ) I think it is necessary to inform people out there about the FUD (Fear-Uncertainty-Doubt)-campaign against IOTA. ! thank you for more than 100,000 views for my articles in the first three weeks of January by the way! In the following, I shall argue that the FUD against IOTA makes sense because IOTA itself is FUD IOTA is FUD because it causes FEAR among those who can grasp IOTA’s potential; UNCERTAINTY among those who worry that if only half of what IOTA promises becomes true, they might be in a really bad position without it; DOUBT among those who think they have a safe investment with their other coins and are now unsure whether these will be needed at all. IOTA gives many people sleepless nights; of course, it makes sense for them to drag as much FUD as possible in IOTA’s way. Thankfully, many of these people have provided enough evidence for this daring statement. I would like to introduce you to the way these people try to stop IOTA from achieving its goals. Example 1: The DCI-attack Assertions which went viral and caused a lot of FUD: IOTA partnerships are “nebulous”, especially Microsoft would be a partner. not IOTA is not tamper-proof because it relies on a centralized Coordinator IOTA is not feeless IOTA’s hash function is vulnerable to attacks Simple explanation: ad 1.: The term “partner” (especially with regard to Microsoft) was hyped in the media. (see Dom’s quote ); Microsoft even clarified that this was not IOTA’s mistake here they (!) used the term “partner” themselves: ad 2.: IOTA Foundation’s answer: The purpose of the Coordinator in the infancy stage of the IOTA network has been transparently communicated throughout the history of IOTA. As the team has explained at , the Coordinator is a temporary measure to help bootstrap the network and protect it during its infancy. ( ) length Once there are enough full nodes and transactions to secure and sustain the IOTA network, the Coordinator will be permanently removed from the network. click ad 3.: purely semantic argument about the word “feeless” because of the Proof-of-Work needed. This argument will probably lose its ground once the kicks in. How would you call it if you send 1 cent around the world and the receiver gets 1 cent? IOTA hardware microprocessor ad 4.: The hashfunction was never intended to be a cryptographic function. The alleged weak spot was implemented on purpose for (CfB, IOTA’s CTO, with the NXT source code which wrote back then). copycat-protection invented this protection already years ago he (aka BCNext) himself Important update: 24hrs after releasing this article an important information has been released: MIT allegations as far as the vulnerability are concerned are debunked. Here is a simple explanation of the situation understandably explaining the flaw: The allegations were debunked quite logically for the average layperson. Their attempt in creating a vulnerability is not possible, because the DCI group draws a situation where the victim is: (a) BOTH naive enough to , follow obviously malicious instructions from an unknown attacker AND capable enough of coding IOTA transactions by hand in a code editor OR (b) Naive enough to , at which point the attack as originally described no longer exists because the attacker now has the seed directly (and access to funds on ALL addresses). enter their seed into a malicious piece of software provided by the attacker When confronted about the practicality of the attack, rather than address these issues, . DCI misled the public into believing the IOTA network had a vulnerability More detail: Here are the steps require in scenarios A and B 1. Attacker asks victim: “May I please have an unused address to send you money?” or “Would you please send me a transaction that uses an address generated from your seed?” 2. Attacker generates a new bundle (transaction), and sends it to the victim Scenario A 3. Victim opens up their code editor, downloads the IOTA libraries, enters their seed and the transaction information from the attacker, signs the transaction IN CODE, and sends the signed info back to the attacker. Scenario B 3. Attacker also sends the victim or convinces him to download “IOTA Transaction Booster.exe”, which prompts the user to enter their seed (ie phishing attack), at which point the rest of the attack is pointless as the seed has already been compromised. And funds from ALL addresses on the seed are compromised. (This is what led to this debunking: ) click Any honest reporter who has spread these wrong news should write a public apology; MIT-Team included! Who is behind it? Neha Narula DCI Director active role in Bitcoin’s development of the Lightning Network, a proposed / experimental solution for fast and inexpensive to solve Bitcoin’s problem of slow and costly on-chain transactions. supporting off-chain transactions Madars Virza DCI researcher and co-author of the IOTA vulnerability report co-author of the Zerocash white paper part of the behind the cryptocurrency protocol , a cryptocurrency with a $1.5 Billion market cap at the time of this writing. Zcash, through , claims to solve problems of in Bitcoin. leadership Zcash zero-knowledge proofs true anonymity Ethan Heilman Partner at DCI and lead author of the IOTA vulnerability report part of the leadership at , a for-profit company based in California that is working to build their own DAG-based protocol based on the . (SPECTRE also claims to enable ) DAGLabs SPECTRE white paper unlimited transaction scalability Joichi Ito Director of the MIT Media Lab (of which DCI is a tiny subdivison) authored the most recent critical article on IOTA published by DCI. Curiously, Joichi’s personal was updated immediately following publication of his article removing a for-proft board position at Helium Systems whose states that it “provides robust and secure .” COI disclosure page website IoT device connectivity for a fraction of the cost of our competitors You may draw your own conclusions from these backgrounds and the link to such an unsubstantiated article against IOTA; some people might call it a ... Add to this that there has never been an official answer neither to IOTA’s nor to David Sonstebo’s offer to have an / discussion about it ( by Amazon’s Joanna Bickley who herself almost fell victim to the FUD). Evil to him who evil thinks . . . severe conflict of interest official response open public which was even supported Example 2: “The Foundation has stolen our funds” On the 20th of October, the Coordinator was shut down because of a serious attack and consequently transactions could not be processed anymore. Moreover, users’ funds had to be “frozen” because they were at risk of being stolen due to an attack on the network. IOTA Foundation’s words were clear from the beginning: […] the main reason for the shutdown was to from an ongoing attack on the network which could have had more serious consequences due to a bug that was swiftly dealt with. ( ) protect our users click As a consequence of this protection people with funds at risk could only see a 0-balance when opening their wallets/balances. — even if it was a bit later (January) than anticipated but in the months between the attack and the payback IOTA’s value rose from $0,42 to roughly $4 so even though some people could not claim their IOTAs in the meantime all of those people affected were compensated in a way. As promised by the Foundation people received their funds back Despite all this a huge FUD storm evolved which caused a dip in the short term: The price dropped 30% from 50ct back to 35ct as a consequence of the FUD Moreover, “IOTA foundation has stolen our funds” has survived as an argument until the time of writing — . despite the fact that funds have long been paid back Example 3: “News” at Bitcoin.com Assertion which caused a lot of FUD: . IOTA’s wallet is insecure which is why people lost more than $4 million Simple explanation: Neither wallet nor the Tangle (IOTA’s ledger) are in any way at risk — people lost their money because they used phishy internetpages to create their seed for the wallet. Fore more information please . click Who is behind it? Avi Mizrahi Journalist at bitcoin.com has been covering Bitcoin since 2013 has spoken about the at numerous financial conferences around the world, from London to Hong-Kong. (Note that ) promise of cryptocurrency and blockchain technology IOTA is not a blockchain but DLT The problem does not lie in Mizrahi’s 875 followers on Twitter, but that he spread such false FUD on one of the biggest websites for cryptocurrencies (231,000 Twitter followers). People trust such big websites: It is a shame that such “journalists” can spread their unfounded accusations on such a highly-esteemed website. Of course, Bitcoin.com is also not unhappy about such news for IOTA which is one of its biggest competitors. And by the way: This is the only article on bitcoin.com dealing with IOTA so far (as if there had only been such “negative news”). . . Example 4: Coinmarketcap.com Some days ago, coinmarketcap.com’s decision to exclude Korean prices from the currencies’ markets , because suddenly the prices changed and people thought the end is near. sparked a world-wide sell-off However, IOTA had been victim to this policy for months. IOTA’s price was kept lower than others artificially because the (higher) thus causing a lower marketcap for IOTA which led to the question ; I myself told CMC about it before the above-mentioned world-wide price effects: Korean prices were excluded why they would do that IOTA’s marketcap would have been siginficantly higher if Coinone’s prices had been considered… Example 5: Reddit Reddit is one of the — if not THE- most important information services in the internet. People can post (links to) news there which in turn can be upvoted to reach a broader audience. All of the cryptocurrencies make use of this service in order to drag people’s attention to great news. However, when it comes to IOTA on the /CryptoCurrency subreddit, reddit users seem to be really strict in terms of censorship (to say the least): Comments get locked immediately which chokes any discussion off right away (just some recent examples , , ). 1 2 3 Apparently, people report IOTA news as “spam” so the automod locks the comment section until a human mod opens it again. Or (which is likely more often the case) there are several people reporting about a new topic which causes the automod to flag the topic as “controversial” and disable the comment section. As a consequence, IOTA topics were flagged “controversial” or were even shut down completely — either way people could not really inform themselves about the good news. This is, of course, (although more staff members would certainly help) but it shows that many people out there do what they can to stop spreading IOTA’s good news. not Reddit’s fault Conclusion You might think that this sounds like a conspiracy theory and I must admit, it does. The devs have more than often expressed that they were totally surprised that IOTA has met such a lot of resistance. What could be reasons for this? As could be seen, many coins (or rather their dev teams) have reason to consider IOTA (why else would a or post such tweets?)— FUD is a powerful means to cast doubt among interested parties. a real threat to their own field of application BTC developer LTC founder People see IOTA’s potential and . In order to do so they help to drag down the price by all means — including FUD. want to buy as cheap as possible Either way, fudding IOTA makes sense. The good news is that IOTA is only learning to walk so guess what happens to all the FUD once the product is production ready ( ) equipped with the latest technology to keep funds safe and ? which is the goal for 2018 audited by the world leading lightweight cryptography and security company — until then everyone should dig a bit deeper than reading a random tweet or believing a reddit flag in order to challenge its truth and trustworthiness. We will see this soon If you liked this article or , I would be happy about a little donation ;-): my other articles IOTA: KGOZYHJRYVDBSXTUSECYJVEBLDVYFKCAKAWTPTCKXMBNOWNVRDRHRVSJNIVOQUFRODFPXWYSGROKRWKRZWJZTJOHSX : There is no such thing as intrinsic hatred among the IOTA movement directed against other coins, people, banks or whatsoever! Instead, one of IOTA’s main focuses is its . This article was written because a point has been reached at which you simply have to defend “your” project against unsubstantiated claims. Important note interoperability with other projects and technologies

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