Czhang Lin is the CEO of PIEXGO, a Singapore based global digital currency trading platform that provides a one-stop seamless experience for institutional and individual traders. Czhang joins Me today to discuss the current crypto scene in South Korea and his personal viewpoints regarding the blockchain market on an international scale
Q: Please give an introduction to PIEXGO and how does it differ from other trading platforms?
A: PIEXGO is a digital currency trading platform that currently supports spot/OTC trading for major tokens as well as financial derivatives products. The PIEXGO platform is focused on creating a safe, efficient, and stable global digital asset trading platform in order to establish an “integrated incentive” platform mechanism for both institutional and individual investors. Our main difference from other exchanges would be our launchpad RocketGo. On RocketGo, we’ve launched an IXO, designed to promote public chain ecosystems by executing fundraising for Dapps inside of public chains with public chain tokens. We are a Singapore-based exchange with offices in South Korea and China and are looking into various markets internationally to expand into. We support over 40 trading pairs and 27 coins to date. The exhaustive list can be found on our website.
Q. South Korea has seen various developments in crypto – this includes the banning of ICO’s in 2018. What are your thoughts on the current crypto landscape in South Korea?
A. In 2018, South Korea banned initial Coin Offerings as it was viewed as a high-risk activity, with substantial reports showing that ICOs were raising money illegally from Korean investors. However, as time passed, the crypto market in Korea developed further. Let’s take Busan for instance. It’s now been declared a “regulation-free” zone for blockchain development by South Korea’s national government, with eleven regulations lifted for the project with plans to host blockchain initiatives related to finance, public safety and tourism. By 2021, it is predicted that investors will move an estimate of 25 million into the region, showing strong potential for virtual currencies.
Q. Do you think South Korea will eventually achieve mainstream adoption for crypto?
A. The crypto landscape in South Korea is no doubt booming. Although South Korea accounts for less than 1 per cent of the world’s total population, it is the world’s largest markets for cryptocurrency trading. South Koreans actually amount for 30% of total crypto trading worldwide, with some 30 per cent of all salaried workers owning and trading crypto assets of some kind. South Korea’s eventual embrace of blockchain and crypto has no doubt accelerated adoption in the nation, with companies in the public and private sector gaining massive momentum and seeing traction. South Korea’s ultimate plans are to be seen as a blockchain smart city and it surely is on its way with a well-developed cryptocurrency exchange scene.
Q. With South Korea’s plans to solidify its position as a blockchain/ crypto smart city, do you think it will spearhead its ranks as a crypto player in the international arena?
A. With South Korea making moves in crypto, it not only solidifies its position as a leading crypto player, but ranks with notable players such as Malta, Singapore, Estonia and Switzerland. Ultimately, I think South Korea intends to be seen as one of the top few progressive tech-savvy nations in emerging technologies, and cements itself as a strong contender with visible international awareness and presence. South Korea is quickly becoming an attractive destination for the blockchain and crypto community to gather, with the Ministry of Science and ICT announcing plans to kick start blockchain projects in the public sector — which involves online voting, customs clearance, supply chain management, logistics, real estate and cross-border e-document distribution.
Q. What are your thoughts on the general cryptocurrency and blockchain market on an international scale?
A There have been a number of notable developments in the crypto and blockchain landscape, with tech giants such as JPMorgan, Microsoft, Facebook seeing the benefits of this emerging technology and joining the fold. I think there is a huge demand and community in place in the crypto and blockchain market – with added benefits that it brings. Set to improve processes in traditional banking with payments and remittances, the technology truly does improve public services. Although the road to mainstream adoption is not without barriers, the recent G20 decision to regulate the crypto sphere not only provides assurance but is the first regulatory acknowledgement of cryptocurrencies.
Q. Speaking of the crypto market, what are the future plans for PIEXGO?
A. PIEXGO intends to solidify a stronger presence in other markets, starting with South Korea. As we develop further, we would like to not only make our platform accessible and bring value to various international stakeholders but also identify and support quality projects to generate greater value for the public chain ecosystem. Being the first to launch an IXO, our plans for the future would be to create sustainable growth of the public chain ecosystem, and we will be strategically partnering with a lot of quality projects in the future.
If you wish to know more about him, you can contact at https://twitter.com/Czhang_PIEXGO
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