On Thursday, aelf, a Decentralized Cloud Computing Blockchain Network announced its entry in the south Korean Market. Currently, South Korea accounts for over 50% of crypto transactions and ranks third in crypto trade volume. It has developed to be a leading digital-savvy society with the first adoption of cryptocurrencies and the blockchain technology.
South Korea Entry
Aelf entry into the South Korean market involves A three-strategic approach:
The South Korean entry involves negotiation of a high-end partnership deal with Hashed the largest digital asset Fund, startup incubator and community sustainability creator. Hashed experience and presence in Asian, Francisco and Silicon Valley will provide aelf with a strategic advantage in South Korea and beyond.
According to a Coinjournal report, Hashed CEO Simon Seojoon Kim said:
“Our partnership with aelf will help to further our vision of accelerating the global enablement of blockchain through community building and impact investing.”
“Its state-of-the-art technology has the potential to be groundbreaking — providing the solution to blockchain congestion and scalability the market has been waiting for.”
listing of aelf (ELF) on GOPAX
The aelf token (ELF) was listed on GOPAX – one of the largest cryptocurrency exchanges in South Korea. The listing will provide aelf access to early, passionate and enthusiast blockchain and cryptocurrency supporters and adopters.
Former McKinsey & Company Associate J.B. Lee
aelf entry to the South Korean market involved the hiring of former McKinsey & Company Associate J.B. Lee to help the organization create new links and partnership deals and alliances increase its market and investment pool.
“aelf’s presence in this highly dynamic and influential market is crucial as we build out our scalable cloud computing network to accelerate the global commercial adoption of blockchain technology.
“We are confident that our technology and relationships with key local companies Hashed and Gopax will help aelf form a larger presence in one of the world’s largest market, and play a key role in the country’s effort to adopt blockchain.” Zhuling Chen, co-founder, Coinjournal report.
The aelf Project
The aelf token ELF has maintained a constant resistance at around $1 with its all-time gain being $ 2.61 in January 2018.
aelf tries to solve existing blockchain technology shortcomings focusing on two factors: side chains and adoption of a unique governance system. It uses, side chains to separate resources and smart contracts to improve its scalability and a Delegated Proof-of-Stake consensus algorithm, similar to ark, to make its governance system flexible.