Zhuling Chen

Blockchain-based cloud computing network aelf enters South Korea

aelf, the next-generation cloud computing blockchain network, today announced its entrance into the South Korean cryptocurrency market.

A three-pronged approach that covering a high-profile partnership with the country’s largest digital asset fund, Hashed; the listing of its token ELF on one of South Korea’s fastest and most reliable cryptocurrency exchanges, GOPAX; and a key on-the-ground hire of former McKinsey & Company Associate J.B. Lee, will amplify aelf’s strategic growth in one of the most active markets in the cryptocurrency economy.

Zhuling Chen

“South Korea is one of the most digital-savvy societies, with the fastest Internet speeds anywhere in the world and a large appetite for cryptocurrency and blockchain technology,” co-founder Zhuling Chen said. “In fact, 50 per cent of global cryptocurrency trading volume takes place in South Korea, which is no mean feat considering its population of less than 50 million.

“aelf’s presence in this highly dynamic and influential market is crucial as we build out our scalable cloud computing network to accelerate the global commercial adoption of blockchain technology. We are confident that our technology and relationships with key local companies Hashed and GOPAX will help aelf form a larger presence in one of the world’s largest market, and play a key role in the country’s effort to adopt blockchain.”

Hashed is South Korea’s biggest blockchain-focused fund, incubator, and community builder, with extensive experience and reach into Asian markets, San Francisco and Silicon Valley. aelf’s strategic partnership with Hashed will support its growth both in the Asian region and globally.

“aelf stood out to us immediately as a top tier project and an excellent addition to our lineup of the most disruptive and sophisticated blockchain startups in the world,” Hashed CEO Simon Seojoon Kim said. “Its state-of-the-art technology has the potential to be groundbreaking — providing the solution to blockchain congestion and scalability the market has been waiting for. Our partnership with aelf will help to further our vision of accelerating the global enablement of blockchain through community building and impact investing.”

The ELF token’s listing on GOPAX, which is now one of the top four in Korea and top 20 exchanges worldwide, will also introduce aelf to a community of avid, technologically-driven cryptocurrency supporters.

The recent hire of aelf’s local representative, former McKinsey & Company Associate J.B. Lee, will help forge new partnerships and enhance aelf’s growth within the South Korean market.

The aelf platform will bring three significant innovations to the industry in order to enhance the speed and efficiency of the blockchain network: resource isolatability for smart contracts, the addition of scalable nodes, and a self-amending governance model.

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