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A service for IT industry professionals · Saturday, November 17, 2018 · 468,624,024 Articles · 3+ Million Readers

HYCON Signs a Strategic MoU with Cyworld for Blockchain Cooperation

HYCON will actively support ‘Cyworld 3.0’

SEOUL, SOUTH KOREA, September 14, 2018 /EINPresswire.com/ -- HYCON (CEO Taewon Kim) announced that it has signed a memorandum of understanding with Cyworld (CEO Jaewan Jeon) at the Cyworld headquarters on September 7th. HYCON is a blockchain platform developed by Korean first-generation blockchain company Glosfer.

At the MoU ceremony, Glosfer COO Bogyu Kim and Cyworld Strategy & Planning Director Jonghak Jeon discussed different ways in which they will cooperate using blockchain technology.

Cyworld has released its own cryptocurrency ‘Clink’ in early August and is conducting private sale with its blockchain partner Quartz. The goal is to create a contents ecosystem where creators are properly compensated for their activities and contents within the platform with cryptocurrency.

Glosfer has successfully launched the mainnet of HYCON, its own blockchain cryptocurrency trading platform, and is making forays into the world market by listing on domestic and international exchanges. Glosfer is also providing blockchain technology to local governments in South Korea including Nowon local currency and Yeongdeungpo business proposal system. Recently, Glosfer was selected as stage 1 project for the “2018 Copyright Technology Development: Business Model Contest” hosted by the Korea Copyright Commission.

Cyworld Strategy & Planning Director Jonghak Jeon said, “We think that the strategic MOU with Glosfer will help establish a 3rd generation social media platform with a competitive edge using blockchain technology,” and added, “We will actively correspond with Glosfer to share each other’s blockchain technology and maximize the effects.”

Glosfer COO Bogyu Kim said, “I am thrilled for the opportunity to exchange the blockchain know-how of Glosfer and HYCON to assist in the revival of Cyworld, a company that has created many fond memories for many Koreans,” and added, “We will provide active support for the success of the Cyworld 3.0 project including advice on the ICO, establishment of a HYCON-based blockchain platform and help listing at domestic and international exchanges.”

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