Korean Blockchain platform receives a state–authorized certificate

Korean Blockchain platform receives a state–authorized certificate

South Korean blockchain service platform CoinStack has been awarded the state – authorized ‘First Class Gold Sofware (GS) Certificate’. The GS cert

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South Korean blockchain service platform CoinStack has been awarded the state – authorized ‘First Class Gold Sofware (GS) Certificate’.

The GS certification is a state – authorized certification system based on the standard of the International Organization for Standardization (ISO), according to businesskorea.co.kr. Products with GS certification has passed rigorous tests on software functionality, reliability and performance. As a result, such products are exempt from different regulatory measures such as obligatory registration with Korea`s On-line E–Procurement System and the regulatory performance test of the Small and Medium Business Administration.

Founded in July 2015, CoinStack is a Blocko`s platform that builds decentralized services on Blockchain. The company offers development tools and building kits to developers who are unfamiliar with the Blockchain environment. For example, software engineers can build their applications while using APIs and SDKs templates, writes on blocko.io.

“CoinStack is contributing to the services for blockchain customers of Korea Exchange, Lotte Card and Jeonbuk Bank, receiving favorable evaluations and recognition. With the acquisition of the GS certification, we are now able to offer excellent blockchain products in terms of functionality and performance to customers.” said Blocko CEO Kim Won – beom in an interview with businesskorea.co.kr.

The Blocko`s blockchain platform received its certification weeks after South Korea stated its plan to introduce bitcoin regulations in 2017.With cryptocurrencies gaining popularity in the country, Korean financial regulators have launched a digital taskforce to provide regulatory and licensing parameters for bitcoin exchanges, writes cryptocoinnews.com. All this may be seen in light of government`s plans to promote the FinTech industry.

“The government will push for the systematization of digital currency on a full scale in tandem with a global trend in the U.S., Japan and other countries.”, said Yim Jong – yong, chairman of the Financial Service Commission, in a speech quoted by cryptocoinnews.com.

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