The richest in South Korea are actively investing in crypto, showing big interest

  • A subsidiary of SK Group, one of the largest conglomerates in South Korea that operates the nation’s biggest telecommunications company SK Telecom, is set to invest in a crypto fund created by ConsenSys .
  • Created by Ethereum co-creator Joseph Lubin , ConsenSys is a New York-based blockchain software development company that focuses on building infrastructure around the Ethereum blockchain protocol.
  • According to local reports from mainstream media outlets such as Chosun , the decision of SK to invest in the crypto fund of ConsenSys indicates a high level of interest towards crypto by Chey Tae-won, the billionaire chairman of SK Corporation.
  • Blockchain technology and tokenized economy can evolve independently and digital technologies like these will largely contribute to the growth of SK and startups,” said Chey.
  • In the long-term, the company could shift to a public blockchain but as of now, the company is likely to go with a public and private hybrid-type blockchain,” a source told CoindeskKorea, a crypto publication operated by mainstream media outlet Hankyoreh.

Read full article: cryptoslate.com