News just in from the Korean Stock Exchange, which has launched the Korean Startup Market (KSM) to enable OTC trading in the equity shares of startup companies. The aim is to support the funding of “promising” startups, and to facilitate M&A activity. Kim Seon-il, head of South Korea’s Center for Creative Economy and Innovation, says: “The KSM will serve as a springboard for startups to be listed on stock exchanges such as KONEX [for SMEs] and KOSDAQ [South Korea’s equivalent of NASDAQ].”
Supporting the launch of the KSM is Korean blockchain startup Blocko Inc., which contributed its Blockchain technology for document and identity authentication via Coinstack, its proprietary blockchain-as-a-service (or if you prefer, the company also uses the phrase “backend-as-a-service”) development platform. Coinstack may be accessed via the Cloud, or implemented directly on site.