[Blockchain Today Correspondent Kim So-yeon] Woodsnex, the first and only government-approved cryptocurrency exchange in Central Asia, announced on the 17th that the Cable Rack Hall (KBH) token will be listed on the Woodsnex BTC Market on the 18th.
According to the cable rack hole (KBH) token issuer Kobea Group, KBH token is a digital economy transaction tool that is used in an ecosystem that combines blockchain technology with data, networks, information and communication technology, and artificial intelligence, which are key elements of the 4th industrial revolution. It is used for blockchain business based in Uzbekistan.
The Kobea Group, a domestic block chain company, announced that it is expanding the KBH ecosystem by gradually following the business sequence announced in the white paper by launching UzNEX, a Uzbekistan government-approved global cryptocurrency exchange in June and listing KBH tokens.
The cable rack hole project that Kobea Group is promoting is ▲Securing domestic technological competitiveness by promoting overseas expansion of domestic blockchain companies ▲Serving as a focal point for domestic and overseas blockchain industry-academic research and research ▲Global digital application of blockchain, the core technology of the 4th industrial revolution Building an economic platform ▲Providing technical advice on the 4th industrial development policy for Uzbekistan government agencies, etc.
In addition, on the 8th, it was reported that Woodsnex cryptocurrency exchange operated by Kobea Group had signed a business agreement with the staking platform Moonstake. Moonstake supports PoS coins such as Cardano, Polkadot, Tezos, Cosmos, IRIS, Ontology, Harmony, Qtum, Quras, Centrality, Orbs, and IOST, and is a global staking platform with staking assets exceeding $1 billion. As of June 17, it is ranked 7th in the world in Staking Rewards.
According to Kobea Group, it is known that Emurgo, a shareholder of Kobea Group, played a major role in the collaboration with Moonstake. It is said that the collaboration between Moonstake and Kobea Group, which it owns as a shareholder, is positive for the operation of the Woodsnex cryptocurrency exchange. Emergo is a company in charge of the commercial part of Cardano ADA coin, which ranks 5th in market cap on CoinMarketCap as of June 17, and was established for the purpose of providing and investing in Cardano’s blockchain technology.
Meanwhile, Uzbekistan is actively promoting a pro-cryptocurrency policy, attracting leading foreign cryptocurrency companies and managing cryptocurrency exchanges by incorporating cryptocurrency into the institutional system. In particular, the National Agency for Project Management under the President of the Republic of Uzbekistan/NAPM exercises full national authority over the realization and development of the digital economy and is in charge of the blockchain and cryptocurrency fields. . It is also known that this institution issued a license to the Woodsnex cryptocurrency exchange.
So far, the Uzbekistan government has issued ▲Decision made by the President of Uzbekistan on measures to develop the digital economy of Uzbekistan (July 3, 2018, No. 3832), ▲ Decision of the President of Uzbekistan on the formation of Uzbekistan cryptocurrency exchange (No. 3926, September 2, 2018), ▲ Decision of the President of Uzbekistan on the creation of a ‘Digital Trust’ fund to support the development of the digital economy of Uzbekistan (September 2, 2018, No. 3927), ▲Ordinance of the Directorate of the National Project Management Office (NAPM) under the Office of the President of Uzbekistan on the revision of regulations on the procedure for permission for cryptocurrency exchange activities (April 30, 2021, No. 12 / Collecting public opinion) and other major laws and regulations were announced and received a lot of attention from the industry.
In particular, the NAPM directive, which was released on April 30, is a content that allows its citizens to trade in cryptocurrency. The government of Uzbekistan, which has shown a passive stance on cryptocurrency as the cryptocurrency market has suffered a recession due to the spread of COVID-19 around the world for the past year 19 As vaccinations were carried out smoothly around the world, there is an interpretation that it may have returned to a pro-cryptocurrency policy.
In this regard, Lee Chang-yong, CEO of Kobea Group, said, “I am very happy to announce the listing of KBH token following the successful launch of the Uzbekistan government-approved cryptocurrency exchange.” We will make sure that there is no setback in carrying out the business mentioned in the white paper announced by the Kobea Group, such as building a blockchain education platform.”
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