The stable Terra coin alliance adds a South Korean platform for streaming music


Blockchain payment system and stable currency source TERA have added South Korean music streaming platform "Bugs" to the e-commerce alliance.

 According to Coin Desk on August 14, there are now 25 partners in the Singapore-based South Korea-based payment system.

Terra Alliance uses Chai payment solutions provider as its front end. Chai includes a mobile payment app that connects to 15 major local banks. The blockchain-based Terra platform sits in the background while linking payments to e-commerce sites.

Daniel Shin, co-founder of Terra, explained that the platform is smoother than South Korea's old payment systems. There are six or seven players, everyone takes a share. We are facilitating the process. "

Earlier this month, Terra announced a partnership with Singsang Fashion Platform.

Regulatory uncertainty in South Korea is a drawback

Shin points out that regulatory clarity would be beneficial to the cryptocurrency sector, explaining the difference between South Korea and the United States. In the United States, if something is legal, it can be done. However, in South Korea, entrepreneurs should not try to do something unless specifically codified, according to Shin.

"Before that, cryptocurrencies were 'rejected' and blockchain was 'acceptable'." Now this is like blockchain "accepted", private cryptocurrencies are "acceptable", and public cryptocurrencies listed are "rejected."

While regulators in the country may still view encrypted assets with some uncertainty, Blockchain technology has adopted in various sectors, with South Korea's oldest bank recently announcing it is building a blockchain-based security system.

  



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