Today’s Crypto News in Asia- July 17

Today’s Crypto News in Asia- July 17

How to pitch to Chinese Investors; INBLOCK partner 200x on EOS; Korea to launch file storage on blockchain; first bank-backed Crypto exchange in Japan

Top News

*China Media* Li Xiaolai, partner of INBLOCK: “I’ve invested in the EOS team since 2013. EOS was our fourth investment. We spent $1.5 million for 5% of the stock at a valuation of $30mn USD. Now it is worth $6bn USD, a 200x. […] This one project alone will probably make me the world’s best angel investor in 2017, because it’s growing so fast”. Google translated interview

Korea Internet & Security Agency (KISA) and the Korea Housing Finance Corporation (HF) tointroduce a blockchain system to manage electronic documents for mortgages and loans.

World’s first bank-owned cryptocurrency exchange under SBI Holdings has launched in Japan and only open to retail investors and residents of Japan.

Coin and Exchange News

EOS developer has secured strategic investments from Peter Thiel and Jihan Wu of Bitmain.

Business and Regulation News

“[Blockchain] can make up for the deficienc[ies] of traditional credit system, prevent information tampering and forgery, and save [costs across] society. [This applies to] finance, e-commerce, smart medical care, social security, Internet of Things, energy” Deputy director of China’s Ministry of Industry and Information Technology (MIIT).

This startup is the perfect example of Korea’s vibrant crypto market.

The number of Chinese companies registered with the word “blockchain” in their names surged from January to July 16, 2018, surpassing last year’s number by nearly sixfold.

Check our past 5 weekly pieces on Takeaways on Asia Crypto from Techcrunch Zug, Cryptokitties, Binance, Bitmain, and China’s Crypto winners

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