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Thursday, March 30, 2017

Why South Korea is Second Largest Ethereum Market, 17% of All Trading

Why South Korea is Second Largest Ethereum Market, 17% of All Trading

Over the past few weeks, Ethereum has experienced a truly exponential growth in terms of market cap and development community, reaching a market cap of $4.37 bln. According to various sources and market data, the South Korean exchange market has accounted for 17 percent of global Ethereum trading.

Companies within the South Korean digital currency and Blockchain industries are rapidly expanding their consumer base across the country. Interestingly, the majority of clients of Blockchain and digital currency-based startups in South Korea are composed of government-funded organizations, major financial institutions and multi-billion dollar corporations.

South Korean corporations and financial institutions are considering the Bitcoin and Ethereum networks as important technologies which are necessary for developing new infrastructures and internal systems to base their operations on.

Essentially, local corporations are visioning the creation of an autonomous, secure, transparent and efficient infrastructure which can handle the settlement of transactions, processing of complex data sets and secure sensitive information within a single network.

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