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South Korea Post Requests Crypto Know-How From Goldman Sachs

Published: 09/09/2018

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What is it for?

The representatives of Korea Post, the national postal operator of South Korea, which also manages an investment fund of $112 billion, announced their intention to study the features of the distributed ledger. For this purpose, they will meet with the Goldman Sachs' research group in Hong Kong in September, Bloomberg reports.


During the meeting, both sides will discuss issues concerning cryptocurrency, blockchain, and artificial intelligence. Kang Seong-ju, the President of Korea Post, reported that he managed to discuss the cryptocurrency topic with Goldman Sachs' executive director David Solomon during a recent trip to New York. At that time, he asked the head of the bank to share his experience so that South Korean experts could assess the strengths and weaknesses of the digital assets use.


Source: koreapost.com


Nevertheless, the representatives of the South-Korean postal operator reported that they do not plan to finance crypto projects at the expense of their investment fund, which they plan to expand to 1.6 trillion won (about $143 billion) by late 2019. Besides, there was no official confirmation of the possible business cooperation between Korea Post and Goldman Sachs in the crypto sphere.


As previously reported, South Korean authorities are going to double next year the number of blockchain projects in the sphere of public services.

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South Korea Goldman Sachs