Hashed will invest $ 100 million in cryptocurrency startups
South Korean company based in Seoul and Silicon Valley raised 120 billion won to set up investment fund
The money was raised through Hashed Ventures Inc. Investor data were not disclosed. Although it is reported that among them are several large South Korean IT firms.
The fund will deal with large 9-figure investments. The collected funds will be invested in both domestic and foreign crypto startups. Hashed's main focus areas are protocol economics and blockchain technology.
What is protocol economics
This is the principle of creating a sustainable economy in the long term, in which, on the basis of one protocol, an additional one can be created, confirming their powers in the main.
What are the conditions for the development of cryptocurrencies in South Korea
Blockchain technologies and the digital asset market are actively developing in the country. Even the repressions against ICO and cryptocurrency exchanges could not prevent this.
The introduction of a tax on income from cryptocurrencies has been delayed until 2022. And local companies have time to adapt to the new regulations.