Bitcoin, Crypto currency, Blockchain

North Korea developed its own crypto exchange?

North Korea has been doing Recently, not only with the Hacking attacks in the crypto world. Recently it became known that the Northern part of the Korean Peninsula in October of this year, an international Blockchain-conference host. Now rumors are loud that the country is currently developing a crypto exchange.

27. August, the South Korea reported niche news site Yonhab that a North Korean work company skills technology currently in the development of a crypto exchange. This Information comes from a report by a research unit of the state Korea Development Bank (KDB). Therein it was said that the company was working with the name “Chosun Expo” at a crypto exchange for trading with Bitcoin.

Without Internet nothing going on

Due to numerous sanctions that have been imposed on North Korea for its nuclear and missile programs, to take speculation with respect to the cryptographic interest of the country. So North Korea should be interested in currencies niche of the Regime at the crucial “features of the Crypto, including the anonymity that is more difficult traceability of funds and availability values”, the report says.

However, the crypto-industry is likely to thrive only in a very difficult North Korean soil. So there is neither a Blockchain infrastructure in the Form of high-performance computers, power and Internet access. According to another South Korea points to the news portal, Speconomy, on the basis of the report to the fact that the Internet is well-developed in North Korea in such a way that it “will continue to dampen the development of the virtual money industry”.

In April, the Chinese tourism company Koryo Tours, which offers guided tours to North Korea, announced the Start of the ICOs “a new block-chain based crypto-currency only for use in the Democratic people’s Republic of Korea”. Very optimistic, the Manager of the cyber section of the DPRK, Ri Hyun-A is:

“This Coin will surely become the standard currency of foreigners that visit our country, and all our guests convenience offer.”

Whether the ICO was a success, and he could actually develop to the “foreigners-default-currency”, is unfortunately not known.

North Koreans don’t know anything

The KDB report also claims that the average North Koreans “Know little about crypto-currencies seem to be”. As refugees North Koreans have recently nothing about the development or the use of cryptographic statements currencies in your country. The University of science and technology in Pyongyang was in November of last year, a course on crypto currencies, Bitcoin and the Blockchain technology. According to Yonhab Federico Tenga, an Italian Bitcoin entrepreneur managed, these crypto-course. He explained his experience with the North Korean Know about this topic:

“The participants of the Lectures were a mixture of engineers and Finance students, but sometimes some of the other professors of the University came to learn something about the subject.”

The interest is so undetectable. The planned Bloch chain conference for October used.

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