►
Description
Yves la Rose breaks down his trip to Busan, South Korea and explains the MOU agreement, how the ENF became a founding member of this new alliance with the city, and how this partnership will attract business and potential capital from all over the country.
The Mayor of Busan, South Korea, and Yves La Rose of the ENF signed a memorandum of understanding (MoU) in partnership with several venture capital firms to establish the Venture Capital Alliance of Busan Blockchain (VCABB) w/ a collective $700m AUM
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A
The
mou
that
we
signed
with
the
city
of
Busan
last
week
stemmed
out
of
the
discussions
that
we
had
when
I
first
went
to
South
Korea
before
going
to
Singapore
a
token
2049.
South
Korea
is
an
incredibly
important
player
within
EOS,
so
in
terms
of
tokens,
approximately
25
to
30
percent
or
so
of
EOS
tokens
are
located
in
South
Korea
to
our
best
estimate
and
in
terms
of
developers.
South
Korea
is
an
incredibly
important
player
in
terms
of
pioneering
within
the
space
and
adoptability
of
not
just
a
blockchain
but
even
of
web
2.
A
Mobile
gaming
internet
penetration,
Etc
Korea,
is
a
very
important
player
and
it's
someone
of
an
enclosed
ecosystem
as
well.
So
on
the
VC
front
on
the
exchange
front
on
the
developer
front,
it
is
very
much
a
kind
of
a
full
stack,
end-to-end
environment
there
ecosystem
there,
and
so
we
definitely
recognize
that
South
Korea
is
an
important
player
and
we
wanted
to
make
that
known
for
one
into
showcase.
What
that
is
important
for
us.
A
So
when
Zach
and
I
started
dnf
one
of
the
things
that
we
made
as
a
goal
early
at
the
onset
basically
from
day
one
is
that
anything
that
we
did.
We
always
translated
in
Korean,
for
example,
because
historically
any
kind
of
formal
information
that
was
coming
from
EOS
was
always
being
translated
and
or
output
to
the
Korean
community
and
the
Chinese
Community
after
the
fact.
So,
maybe
a
week
later,
two
weeks
later,
and
not
all
of
it
either,
and
so
it
was
really
left
to
people
to
actually
do
this.
A
It
wasn't
really
formal
in
that
sense,
and
early
on,
we
made
it
a
priority,
because
we
recognized
that
particular
market
and
that
particular
Community
as
being
very
important
and
so
continuing
in
that
trend
of
wanting
to
recognize
that
and
because
there's
tremendous
value
in
South
Korea
on
multiple
fronts.
Heading
back
to
South,
Korea
right
before
going
to
Singapore
was
some
an
opportunity
that
presented
itself
covered
restrictions
being
diminished
and
even
since
then
so.
A
When
I
first
went
to
South
Korea
a
month
and
a
half
ago,
there
was
still
the
requirement
of
doing
a
PCR
test
within
24
hours,
that,
after
landing
that
since
October
1st
has
been
removed,
the
regulatory
environment
and
then
even
just
the
logistics
of
travels
environment
has
changed
considerably
for
everybody
all
around
the
world.
In
the
last
three
years
or
so,
and
so
one
of
the
first
places
we
wanted
to
go
to
was
South
Grand.
A
So
when
I
went,
there
obviously
met
with
amazing
people
working
within
the
space,
basically
evangelizing
and
advocating
for
Eos,
which
had
not
been
done
formally
in
the
country
in
multiple
years
for
multiple
reasons,
but
also
because
there
was
no
entity
being
capable
of
doing
that
at
the
level
that
the
enf
is
capable
of
doing.
And
so
we
did
that
we
met
some
amazing
people.
We
met
a
lot
of
developers,
we
met
exchanges,
we
meant
stakeholders,
token
holders
and
City
officials.
A
We
met
government
officials
because
within
South
Korea
the
regulatory
landscape
is
I,
would
say
somewhat
favorable
towards
crypto
So,
currently
and
I.
Don't
know
the
extent
of
this
or
so
pardon
my
terms,
but,
for
example,
any
crypto
earnings
from
a
capital
gains
perspective
up
until
the
end
of
22
25
are
not
taxed
in
South
Korea.
Right
now,
I
believe
that
both
presidential
candidates
ended
up
running
on
this
platform,
and
so
the
one
that
one
that
is
currently
power
enacted
that
and
as
a
whole
crypto
is
somewhat
favorable
or
well
seen
within
South
Korea.
A
And
so
we
wanted
to
make
sure
that
we
align
with
that
as
well
and
that
we
can
get
government
officials
to
see
the
power
the
benefit
of
EOS,
of
the
technology
that
we're
powering
with
Antelope
the
code
that
we're
maintaining
and
that
we're
growing
and
that
we're
essentially
open
for
business
and
that
we
want
to
be
there
in
that
market
very
early
on
in
a
very
formal,
very
public
Manner.
And
so
this
mou
opportunity
presented
to
itself.
A
If
you
look
at
the
others
within
that
mou
and
I'll
explain
as
well
what
an
mou
is,
because
I've
received
a
lot
of
questions
about
that.
But
if
you
look
at
the
mou
and
the
other
participants
in
the
alliance
of
the
VCA
they're,
all
exchanges,
except
coincidence,
is
a
media
partner
within
that
within
South
Korea.
But
if
you
look
at
the
four
others,
they're
either
exchanges
or
their
VC
funds,
and
if
you
look
at
those
who
have
signed
mousse
with
the
city
of
Busan
prior
to
this,
it
was
binance.
A
A
The
idea
is,
if
you
look
at
and
I
believe
that
the
mou
is
published
and
if
not
then
I
believe
it
can
be
because
I
believe
it
is
public.
But
basically
what
an
mou
is
just
a
memorandum
of
understanding.
These
are
quite
standard
and
quite
formal
for
government
to
do
with
industry.
So
it's
very
difficult
for
government
to
actually
make
formal
agreements
with
industry
unless
there
are
formal
contracts,
because
they're
hiring
you
to
do
something.
But
outside
of
that,
an
mou
is
a
very
effective
way
way
of
doing
this,
and
it's
very
formal.
A
A
If
it
can
do
it's
part
of
the
job,
then,
when
the
enf
and
when
the
EOS
ecosystem
is
looking
at
where
it
can
deploy
some
of
its
capital
that
a
particular
applicant
and
or
a
particular
entity
or
business
or
whatever
it
may
be,
checks
off
the
hey.
This
makes
business
sense.
It
allows
with
our
goals.
It
aligns
with
our
strategy.
They
are
technically
proficient
et
cetera,
et
cetera,
et
cetera
if
they're
located
in
Busan.
A
That's
one
extra
check
mark
That's,
one
extra
point
for
them,
let's
say,
and
so
we've
committed
that
we
will
look
into
South
Korea
as
a
whole,
which
we
believe
is
a
key
player
within
the
blockchain
space
and
within
the
particular
countries.
Busan
is
trying
to
reinvigorate
its
own
economy
and
it's
trying
to
position
itself
as
a
hub
within
that
country.
A
The
majority
of
the
capital,
the
majority
of
businesses
are
located
in
Seoul
in
terms
of
population
of
sold
is
roughly
20
22
million
people,
whereas
Busan
I
believe
is
three
to
four
million,
something
like
that's.
What's
much
smaller,
it's
a
port
city.
It's
trying
to
attract
the
younger
generation
to
come,
set
up
shop
there.
It's
trying
to
attract
favorable
conditions
so
that
from
a
regulatory
perspective
as
well,
so
that
business
is
set
up
there
and
that
they're
signaling
internally,
hey.
If
you
guys
come
and
do
this.
A
We've
partnered
up
and
we've
signed
an
mou
with
people
within
the
industry
at
various
levels
that
they
will
look
at
this
particular
jurisdiction
in
as
one
of
the
more
favorable
ones,
and
so
this
also
comes
into
play
in
terms
of
regulatory
Arbitrage.
So
I
did
an
interview
with
Bloomberg
before
leaving,
and
one
of
the
questions
that
that
I
was
asked
was
about
this
concept
of
regulatory
Arbitrage,
we're
starting
to
see
more
and
more
around
the
world.
A
Different
jurisdictions
position
themselves
against
others
as
a
favorable
location,
to
be
able
to
set
up
shop,
whether
it
be
to
deploy
tokens
or
to
be
able
to
track
Capital
to
be
able
to
set
up
businesses
and
work
on
things
within
the
blockchain
industry,
whatever
it
may
be
within
that
Paradigm
of
where
they
fit
in
the
ecosystem.
More
and
more
jurisdictions
are
trying
to
be
Havens
for
one
but
I,
guess
a
hub
for
blockchain.
We
know
that
Dubai
has
been
trying
to
do
this
for
a
while.
A
We
know
that
by
default
a
lot
of
the
Caribbean
islands
like
came
in
pvi
ETC
they've
by
default,
done
that
because
they
were
traditional,
tax,
Havens
and
so
people
just
set
up
there,
because
that
was
low
risk.
But
it's
not
necessarily
because
they
set
themselves
up
as
blockchain
hubs.
It's
because
there
was
no
other
alternative,
but
now
we're
seeing
more
and
more
jurisdictions
within
known
locations.
What
I
wouldn't
call?
A
Let's
say
the
tax
Havens
so
to
speak,
that
are
trying
to
position
themselves
as
hubs
for
blockchain
and
Busan
definitely
is
trying
to
do
that
and
for
us
Busan
and
then
South
Korea
and
then
EOS
everything
just
aligned
very
well.
It's
a
very
symbolic
gesture
as
well
in
terms
of
next
steps,
people
ask
what
happens
next
this
right
now,
it's
just
the
beginning
of
something
when
we
look
at
other
ecosystems,
they've
had
Partnerships
tremendous
Partnerships
throughout
you.
Look
at
polygon.
They
have
hundreds
of
Partnerships
like
this.
Eos
has
never
had
anything
like
this.
A
This
is
really
just
a
sign
of
things
that
comments.
It's
a
reversal
of
what
we've
seen
dry
spout
in
the
last
couple
of
years.
It's
an
another
opportunity
that
is
being
presented.
It's
another
door
that
is
being
opened,
a
very
formal
door
with
government,
it's
a
very
formal
doors
with
the
other
partners
within
this
mou.
So
if
you
look
at
the
others
that
I
mentioned
the
VCS,
for
example,
you've
got
Alpha
announced,
which
is
quite
big
in
South
Korea
and
they've
got
roughly
a
100
million
dollar
fund.
A
If
you
look
at
foresight,
Ventures
400
million
dollar
fund,
very
big,
very
known,
as
well
I've
mentioned
here
previously
as
well,
that
the
EnV
the
concept
of
EOS
Network
Ventures,
is-
is
moving
along
very
well.
One
of
the
things
that
we've
been
trying
to
focus
on
right
now
create
that
fourth
pillar,
which
would
be
more
of
the
VC
side
of
things
and
we're
looking
at
other
VCS
to
get
them
to
invest
capital
in
EOS
and
the
EOS
ecosystem.
A
And
this
mou
and
these
new
partners
that
we
met
obviously
can
open
more
doors
as
well
without
going
into
into
too
much
detail
there.
But
it's
just
the
continuation
of
what
we've
been
doing,
but
in
a
very
tangible
way,
in
a
very
symbolic
way,
in
a
market
that
we
respect
and
that
we
value
tremendously-
and
this
is
just
the
beginning,
but
even
in
and
by
itself.
Currently
it
is
quite
valuable.
So
that's
why
I
went
to
South
Korea
last
week.