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South Korea, a blockchain innovation powerhouse, is taking another step forward in cryptographic space by collaborating with the University of Sydney Department of Computer Science.
Fantom, a platform of smart contracts based in South Korea that seeks to solve the scalability problems currently faced by distributed public registries, is funding a program to make smart contracts more secure.
The project will be led by Bernard Scholtz, associate professor of Computer Sciences, and Michael Kong, Fantom's Chief Innovation Officer. / who is a former student of Professor Scholtz during the period of Michael at the University of Sydney.
The Fantom employee was taught by Scholtz at the University of Sydney, and the two recently co-authored an academic document.
In the project, the Australian professor and his team will perfect the programming language behind smart contracts and produce a verification compiler to improve functionality.
Ultimately, the group hopes to create an automated service to check for bugs in the smart contract code. The goal is to make these contracts safer to use.
The associate professor Scholtz sees great potential for the revolutionary project, explaining that "[we] will deliver research papers, software artifacts and opportunities in higher education that have never been seen before in the blockchain space. "
In a press release, he said that the project comes at a good time.
"With a market capitalization of over $ 200 billion, the need to increase security in cryptocurrencies and distributed registers is critical."
From South Korea with love
Fantom is the last crypt-export of South Korea, but it certainly is not the first. Alongside kimchi, k-pop and Korean beauty products, the country is establishing itself as a paradise for cryptocurrency.
South Korea's success stories include ICON (ICX), the crypto group associated with LINE and Samsung Electronics among others.
South Korea is also one of the world leaders in blockchain investments, as the industry expert Jea Edman told Forbes magazine in August.
"The citizens of South Korea were already heavily invested in blockchain, contributing significantly to the global cryptography market.If you look at bitcoin alone, South Koreans are responsible for 14% of that market".
And according to FinTechNews of Singapore, the South Korean government is on track to invest 1 trillion won on blockchain, A.I. and big data in 2019.
"[We] will deliver research papers, software artifacts and opportunities in higher education that have never been seen before in the blockchain space. "
This partnership is the last part of Fantom's Australian expansion. The company was launched in Brisbane last month with the help of NEM.io, and Melbourne is next on their website.
Summary of global expansion
The first step in our global expansion and the roadshow in Australia was a great success.
We are pleased to finally be able to share our summary article and video with you guys.
Check the link below! Https: //t.co/prG0G0jMLGhttps: //t.co/FTE8gnmeIn– Fantom Foundation (@FantomFDN) November 14, 2018
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