“Virtual currency, should not be viewed only as speculation… The field…
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Although the price of virtual currency, which soared last year, has declined significantly, the experts gathered at the Asian Leadership Conference (ALC) held at the Shilla Hotel in Jung-gu, Seoul on the 14th said, “We know that the possibilities of virtual currency will continue to evolve and expand if we broaden our horizons beyond the limited function of speculation. I will be able to,” he said in unison. The price of bitcoin, which once rose close to $70,000 last year, fell below $20,000, causing controversy over the existence of virtual currency, but new uses of related technologies, centered on big tech companies, are continuing to increase.
Max Liao, managing director of Entalpa, a venture capital firm who participated in the discussion on “Virtual Currency Investment Strategies,” said, “Five years ago, Bitcoin was discussed as legal or illegal, but now the level of discussion has changed to more specific. He said, “The time has come to ask ‘who and how will deal with virtual currency’.” Justin Zheng, founder of 'JZL Capital', which invests in blockchain and metaverse technology, said, “As the Chinese city of Shanghai recently announced a policy to encourage blockchain technology, such as issuing non-fungible tokens (NFTs) by local companies, virtual currency and blockchain The use of technology continues to expand,” he said. “I look forward to a new world opening up in the future,” he said. On the 12th, Shanghai City announced the “14th Five-Year Plan for Digital Economy Development” and announced that it would support digital leading companies’ NFT platform establishment and asset digitization. For this, blockchain, the underlying technology of virtual currency, is absolutely necessary.
Lee Shin-hye, partner of GBIC, a blockchain investment company, said, “Around 2017, many people had doubts about the blockchain field. However, in recent years, game companies such as Netmarble and Neowiz have introduced NFTs, and giant corporations such as Walmart, Amazon, and Facebook have also jumped into projects to use virtual currency in their businesses, and industrialization is taking place.” NFTs using block chains have uniqueness that cannot be reproduced, so they can give scarcity to digital files that were once considered infinitely reproducible. Samson Mou, CEO of JAN3, a bitcoin technology company, said, “As ICO (cryptocurrency disclosure), De-Fi (decentralized finance), and NFT develop one after another, the possibilities of virtual currency are still expanding.”
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