Understanding Ethereum’s status in South Korea

By Daniel Zo Ethereum, South Korea, China, ICO

In a short period of time, Ethereum has managed to gain a lot of popularity on the digital currency market, with millions of dollars-worth of investments being poured into the new, trustless, smart contracts technology, which has a huge potential to further revolutionize the way we transmit data of all kinds, and the security behind it.

The last couple of months have brought forward a couple of growths and decreases in value, so this article will focus on some of today’s main factors that will further encourage Ethereum development, adoption and popularity. Additionally, Vitalik Buterin, has recently mentioned that: “I would say that Ethereum’s main benefits are in its generality and in its utility to many kinds of industries. There are applications in finance, identity, supply chain tracking, health care, energy and many other areas. This is a result of Ethereum deliberately being designed as a general-purpose programming platform.”

Ethereum

To kick things off, South Korea will likely continue to have an important influence on the development and popularity of Ethereum, given the fact that it is quickly turning itself into a powerhouse for the technology. In fact, on the 21st of September, the country has managed to surpass China when it comes down to bitcoin trading volume, which was a big surprise for the digital currency community.

Regardless of the impact that will be felt after the South Korean government ends up following China’s decision to ban all of the domestic ICOs, which were used by start-ups to generate cash, it still seems like South Korea will continue to be an important hub for Ethereum and other digital currency, given the fact that most investors are also avid supporters of the technology behind Ethereum and other currencies as well.

So far, economic analysts believe that if the support and enthusiasm for Ethereum is continued for a short period of time, the market in South Korea is more than likely to evolve and become and Ethereum power house, and a hub for people who wish to work in the market, by either developing smart applications, or trading.

Based on everything that has been outlined so far, what do you personally think about Ethereum’s recent evolution in South Korea? Will it manage to become mass-adopted in the region, and will South Korea become a hub for the technology? Let us know your thoughts in the comment section below.