Upbit D Conference grows beyond tech in 2023

Panelists at Upbit D Conference 2022 speak during a session at the Busan Port International Exhibition & Convention Center in this September 2022 file photo. Courtesy of Dunamu

Comprehensive look at blockchain's social and regulatory impact will be offered

By Lee Yeon-woo

Upbit D Conference (UDC), the leading blockchain event in Korea, will broaden its scope in 2024. This time, Dunamu, the operator of the country's largest crypto exchange Upbit, aims to explore and expand the blockchain ecosystem across a wider range of aspects. Along with showcasing cutting-edge developments in blockchain technology, it will also delve into the technology's social impact, related policy trends and cultural aspects, at the event taking place on Nov. 13 in Seoul.

Rising social impact of blockchain

Lately, corporations and public institutions have been increasingly acknowledging the significance of Blockchain's social impact and its further potential.

The Korea Arboreta & Gardens Institute is a great example leading this change. Using blockchain technology, the institution implemented a history information system this year for managing plants that are at risk of extinction. Prior to this, when transferring plants to an arboretum or research institution, there were risks of falsifying the plants' histories, as the information could be altered at will. The new blockchain-based system aims to mitigate these risks by providing a secure and unalterable record of plant histories.

Park Jin-sung, manager of the Korea Arboreta and Gardens Institute, and Byun Young-gun, general manager of Lambda256, who helped the institution to establish the system, will participate as speakers in UDC 2023 and share the process and its advantages.

Blockchain technologies are also being utilized in donation campaigns for nongovernmental organizations (NGO). In a pioneering move in 2021, the Community Chest of Korea began accepting donations in the form of virtual assets. More recently, in March last year, UNICEF Korea utilized virtual assets donated by Upbit members to aid earthquake recovery efforts in Turkey.

Key members from various NGOs will share their experiences in a panel talk. These include World Vision Korea CFO Jung Ho-yun, Goodneighbors Global Impact department head Lee Hyun-seung, Community Chest of Korea Assistant Manager Lee Ju-hee and Kim Hak-su, head of corporate partnerships at UNICEF Korea.

Participants at Upbit D Conference 2022 look around booths at the Busan Port International Exhibition & Convention Center in this September 2022 file photo. Courtesy of Dunamu

Korean market attracts global attention

Numerous international virtual assets projects are actively seeking opportunities in the Korean market, often in partnership with local blockchain companies.

One notable example is Ava Labs, the developer of the Avalanche blockchain network. It jumped into the securities token market recently in collaboration with BLOCKO, a Korean blockchain tech firm. Usman Asim, a senior developer relations engineer at Ava Labs, will be at UDC to discuss the company's future strategies and reasons for entering the Korean market.

Furthermore, SK Telecom, a leading name in Korea’s telecommunications industry, will provide insights into the current state and future prospects of Web 3.0 and blockchain services in Korea. SKT Executive Vice President Oh Se-hyeon will offer her perspective on the unique characteristics of the Korean market.

Shaping regulations on blockchain

As the virtual asset market expands rapidly, the need for comprehensive regulations becomes increasingly urgent. Addressing this, UDC 2023 will facilitate discussions on how different countries should develop and establish standards for virtual asset policies.

A distinguished panel, including Emily Parker from CoinDesk, Howard Fisher, former partner at the U.S. Securities and Exchange Commission, Nizam Ismail, former department head at the Monetary Authority of Singapore, and Kim Kab-lae, a senior researcher at the Korea Capital Market Institute, will explore the varied perspectives and approaches of different nations toward regulating blockchains.

To maximize accessibility, UDC 2023 will be available both online and offline, allowing participants to join regardless of their location. The in-person event will be hosted at the Grand Walkerhill Seoul, while the online version will be livestreamed on the UDC YouTube channel.