Blockchain
K-Startup Grand Challenge 2022: From stepping stone in Korea to the gateway for Startups to conquer the Asian market
After seven consecutive years of organization, attracting more than 10,000 Startups from 151 countries to participate, with 1,25 billion USD invested, The Korean Government’s K-Startup Grand Challenge program affirms its position as a gateway to help potential Startups conquer the Asian market.
Korea – New Startup hub in Asia
Korea is the 15th largest domestic market in the world with a scale of 736,21 million USD. LTE covers 100% of the Korean territory. The country has not only a favorable geographical position when located in East Asia, next to mainland China, Japan, Hong Kong, and Taiwan but also an active and well-designed Startup ecosystem, attracting investors, accelerators, and incubators worldwide.
The Korean Government is making firm commitments to support the Startup ecosystem with an investment of up to 10 trillion won (estimated 8,7 billion USD). There are currently about 40 Startup accelerators in Korea that provide capital to entrepreneurs in various fields. With such an environment, Korea is becoming the hottest Startup hub in Asia.
K-Startup Grand Challenge 2022 – The golden gate to Asia
Intending to become the leading Startup Center in the region and the world, the Korean Government has organized K-Startup Grand Challenge (KSGC) since 2016 to support foreign Startups who want to expand into the Asian market by using the Korean market as a stepping stone. Over the years, the program has had more than 10,000 applications from 151 countries worldwide, and the total investment is more than 1,5 billion USD. In 2022, the Korea IT Cooperation Center in Hanoi (KICC), which is a representative office of the National IT of Industry Promotion Agency (NIPA), continues to be the unit responsible for implementing the K-Startup Grand Challenge 2022 (KSGC 2022) in Vietnam and Philippines, Taiwan, Hong Kong, Cambodia, Myanmar, Laos, East Timor.
From April 15th, 2022, the KSGC 2022 program will begin to receive applications through https://www.k-startupgc.org/ until the end of May 31st, 2022.
June 7th – 10th, 2022 is the time to review the application.
June 20th – 24th, 2022 will take place the Global Audition.
June 30th, 2022, the best 60 teams worldwide will participate in the accelerator program in Pangyo Technology Valley, Korea, which will officially begin from August 1st to November 15th, 2022 (3.5 months).
The Top 60 Startups will receive support funding up to 11,136 USD/team and present products to investors at the investment fair. After that, the Top 30 Startups will participate in the establishment support program in Korea, which will last for another 3.5 months (with funding up to 11,136 USD/team). On the other hand, the Top 10 Startups will receive financial support totaling up to 320,000 USD.
More than just a competition, KSGC 2022 is a door for Startups to expand to foreign markets, connect with leading corporate and VCs in Asia and to validate their business model.
Who can register to participate?
Startups less than seven years old or Pre-entrepreneur whose representative holds a foreign nationality other than Korea.
Projects and Startups from all fields, including AI, Blockchain, 5G, Big Data, and E-commerce, have the potential to expand their business to the Asian market by using the Korean market as a stepping stone.
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
Blockchain
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Blockchain
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