Korea Exchange and Blockchain Power Korea’s New Startup Market

Rage Comment : The Korea Exchange initiated the establishment of KSM, a startup market service, to conduct over-the-counter transactions of startup equity. The project utilized the Coinstack blockchain technology of local blockchain startup Blocko Inc. Blocko has a large customer base in South Korea and cooperates with many blockchain research institutions to continuously upgrade its products.

Translation: Annie_Xu

Korea Exchange has launched the Korea Startup Market (KSM) service, where people can buy and sell equity in startups. Local blockchain startup Blocko Inc. has joined the project and will use blockchain for identity and document verification. The KSM service uses blockchain technology from Coinstack, Blocko's blockchain development platform.

Blocko provides Coinstack platform to JB Bank, Lottecard, KISA, Paygate and other financial institutions in South Korea, and has gained a large customer base. In July this year, Blocko received $1.3 million in Series A funding from Samsung Venture Investment Corporation.

Won-Beom Kim

Won-Beom Kim, CEO of Block, said:

“This is the first commercial case where blockchain has been applied to the over-the-counter stock market in South Korea.”

"We are working with Samsung SDS, CISCO and others to upgrade our products, hoping to apply blockchain to more industries in the future, beyond the bonds and bills currently used in the financial sector."

Coinstack provides two services, cloud service and local service. It supports various Bitcoin blockchain applications and protocols. Moreover, Coinstack is a development platform that supports blockchain contracts and Ethereum smart contracts, allowing companies to easily apply any blockchain-based services.