The ICON Foundation is now providing monthly grant updates to keep ICONists informed about which initiatives the foundation is funding with its Representative rewards.

Writes the Foundation on its Medium page:

As you know, the Foundation is committed to reinvesting 100% of its Representative rewards into the ecosystem. And we believe this initiative will provide better transparency into these efforts while also highlighting important ecosystem developments.”

The first ever update, published on Friday, included a review of the ICON Foundation’s process for assessing and processing grant applications with a helpful flow chart.

It also provided a recap of all the year’s approved grants, though future updates will focus on new developments and activities. In the first three months of the year, the ICON Foundation approved eight grants:

The Iconist previously looked at one of those grant initiatives, Sharon’s educational platform We’ll update you with details on the rest of the initiatives in future articles.


Also in the Korean blockchain space…

  • KT launches ‘Paperless’, a one-stop mobile electronic document service
    (By Kim Kwang-hoe, NextDaily, March 29)
    Korean communications giant KT has launched KT Paperless, a blockchain-powered platform that can create, distribute and store electronic documents. KT plans to offer e-contract service free of charge for a month for companies and individuals struggling due to the COVID-19 pandemic, too.
  • South Korea’s Largest Bank to Launch a Crypto Custodial Service
    (By Jack Martin, Cointelegraph, March 27)
    KB Kookmin Bank has reportedly filed a trademark application for a Digital Asset Custody subsidiary. Cointelegraph writes, “In the application to the Korean Intellectual Property Office, the bank expresses its desire to trademark KBDAC in over 20 areas, all relating to the cryptocurrency industry… The range of industry areas covered has led to speculation that KB Kookmin Bank is launching a subsidiary brand to offer financial services and products that receive and manage virtual assets in investment funds.
  • S Korean Province to Fight COVID-19 Recession with Stablecoin Handout
    (By Tim Alper, Cryptonews, March 25)
    South Korea’s Gyeonggi Province, the region that surrounds Seoul, may expand its local stablecoin projects and use them to give out an “emergency relief” handout of KRW 100,000, or about US$80.
  • South Korean Crypto Exchanges Aid Police In Child Porn Investigation
    (By Anatol Antonovici, Bitcoinist, March 25)
    South Korea’s four major cryptocurrency exchanges are reportedly cooperating with police as they investigate a Telegram chat room where individuals, including minors, were blackmailed into filming sometimes violent sexual acts and self-harm. Members of the chat room paid for membership in crypto.