The world's first valuated cryptocurrency, which was valued by an accounting firm (Grant Thornton) and the Yonsei university industry-academic cooperation group and the token will begin trading in November. The symbol for the token is UCX, which is introduced by the GBC Korea.

"The direction of the domestic blockchain policy is more important than the speed," said Ko Jong-moon, CEO of GBC Korea. "The growth of the cryptocurrency market, which is the base of the block- chain around the world. Yet, regulatory authorities seem to be reluctant to introduce it because of the transaction stability.” In this situation, “We wanted to verify the growth potential of the cipher money by evaluating the future value of the cipher money as well as the stability of the transaction."

"Investors can trust and trade among a number of cryptocurrencies, and there is a big need to wonder how much future growth is guaranteed?" he said. To assess the value of the actual UCX, Daejoo Accounting Corporation commissioned Yonsei University's Industry-academic cooperation group, and conducted thousands of simulations with formulas that combine physics and mathematics.

"The price of UCX is estimated to be between $25.6 and $35.8 per year depending on the size of platforms that we are introducing and the rate of increase in cryptocurrency markets." said CEO Ko. In Korea, which is not yet allowed for Initial Coin Offering’s (ICO), the emergence of cryptocurrency with stability means that it is a big move.

The market for cryptocurrency, which was worth 1.6 billion dollars in 2013, has grown to 253.8 billion dollars as of August 5 in 2018.  

"It is important for the private sectors to work on the valuation of the ICOs," he said. "For investors, the value of the future is guaranteed. I hope that it will be a chance to recognize the cipher money as a stable trading means. "

"The idea is that even a cryptocurrency with a transaction stability in this growing cryptocurrency market should have a bill that allows ICOs and to have private companies to do the valuation work," he said. "For investors, I hope that it would allow cryptocurrencies to be recognize as a stable means of trading/income. "

Meanwhile, GBC Korea has developed the world's first blockchain platform for individuals to easily access to mergers and acquisitions deals through blockchain. Currently, stock transfer transactions are conducted only in the field, such as preliminary inspection, selection of preferred dealers, and due diligence. However, the platform developed by GBC Korea in conjunction with TechCoins in Silicon Valley, USA, solves the complex and inefficient problems of merger and acquisition, and also has the advantage of eliminating vulnerabilities such as hacking.

This means that all parties, investors, and managers within the platform understand and authenticate the progress of the business in real time, so that the transaction procedure is simple and there is no leakage of personal information. The UCX token is an ERC-20 based encryption token. It is used for asset acquisition, platform operation and development, and serves as a basic medium for exchanging economic value between trading partners.

Reporter Kyung-ah Kim / kakim@fnnews.com