Youbin Kang - Nonce Classic
@youbin_kang
Bringing Korean institutions onchain. Notes from the room on Korean banks, brokers & Ethereum.
Co-lead @EthereumKoreaio · Founder @nonceClassic
1.2K Following 1.9K Followers
What do big financial institutions look for when choosing a blockchain?
@Optimism COO, @kylejenke at Ethereum Korea One:
1. Trust and track record. OP has the second-highest uptime of any chain, behind only Ethereum.
2. A developed partner ecosystem that brings global distribution.
3. Control over their own infrastructure, especially privacy and compliance.
And for Korea specifically: people on the ground, engineers on the ground, and local partners.
That last point is the one Korean institutions ask me about most.
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What institutional use case for Ethereum is the market still underestimating?
We asked Franklin Templeton, BlackRock and Ethereum Institutional at Ethereum Korea One.
@FranklnTempletn: securities fully tokenized onchain, rebuilding how alternative funds, private credit and private equity are packaged. "A game changer three years out."
@ethereuminsti: the idea that all chains are the same. As adoption grows, Ethereum and its L2s will prove the guarantees institutions need.
Korean brokerages are already moving toward the first one.
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Yield in crypto gets sold as one number, ‘APY’.
But staking rewards, tokenized treasuries, tokenized credit and stablecoin float are four different products. Each one has someone bearing a different risk, and most of the time nobody has said whose.
That was the question I put to this panel at @kbwofficial: not "where is the yield," but "who is bearing the risk, and can anyone price it."
Four seats, four layers of the stack:
@luganodes : where staking yield is produced
@RedStone_DeFi : trying to rate it
@NYLIManagement : underwriting it for an ~$800B balance sheet
InterVest : deciding whether Asian capital can reach it
Thank you Max, @MarcinRedStone , @ThomasGSy and Hogun.
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1/ The Ethereum Foundation's public grants registry lists 1,173 funded projects. One of the ones added this quarter is called "Ethereum Korea Policy Coordination Layer." That one is ours.
Here is why it matters, even if you have never thought much about Korea.
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Really excited to have the @Offchain team (building @arbitrum) joining Ethereum Korea One 🇰🇷
One of the principles behind Ethereum Korea is to bring together different teams and perspectives across the Ethereum ecosystem.
Looking forward to deep technical conversations across scaling, consensus, clients and account abstraction on Day 2.
See you in Seongsu!
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