South Korea Exchange and Blockchain Company Blocko Jointly Launch Coinstack, a Private Stock Market Based on Blockchain Technology

According to Huobi Blockchain Research Center, Korea Exchange (KSX), the only stock exchange in South Korea, has launched a new service "Korea Startup Market" to help startups' common stocks trade in the open market. The service was jointly launched by Korea Exchange and Korean blockchain company Blocko, which has a blockchain service platform called Coinstack.

Coinstack will provide documentation and certification services to the Korean startup market by checking reference customer lists submitted by some Korean banks, such as Jeonbuk Bank, as well as the Korea Information and Communications Security Agency, Lotte Card, Paygate and some other agencies.

As Huobi Blockchain Research Center reported, senior members of the Korea Exchange’s planning team had already begun researching blockchain use cases as early as 2015, and convened a special working group to provide strategic guidance for blockchain applications. But the results have only now been revealed as part of the Korea Exchange’s services.

Blocko CEO Kim Won-beom said the service was groundbreaking, demonstrating the application of blockchain technology envisioned by the Korea Exchange in the domestic over-the-counter stock trading market.

He added that Blocko is actively working to demonstrate how its blockchain technology can be applied to more industries, such as bonds and promissory notes.