<p>Shinhan Bank, one of South Korea’s leading financial institutions, is set to issue non-fungible tokens (NFTs) and operate a promotional booth in celebration of its participation in the upcoming 2023 Blockchain Grand Week, scheduled for next Wednesday, according to <a href="https://www.newspim.com/news/view/20231110000613" rel="noopener noreferrer nofollow">a report</a> by local news outlet Newspim.</p><p>The Blockchain Grand Week, an annual event since 2018, is hosted by the Ministry of Science and ICT and organized by the Korea Internet and Security Agency (KISA), the National IT Industry Promotion Agency (NIPA) and the Institute of Information and Communications Technology Planning and Evaluation (IITP). Its objectives are to increase public awareness of blockchain technology and to facilitate the broader adoption of its ecosystem.</p><h2 id="header-0">NFTs to first 2,000 visitors</h2><p>The event is set to take place at the Convention and Exhibition Center, better known as COEX, in Seoul over two days. It will feature a conference centered around the theme “Adding Trust to Digital Platforms” and will include several academic seminars. Various blockchain companies will also be showcasing their products and services at their respective booths. For this event, Shinhan Bank is collaborating with Hexlant and Vircle to introduce their NFT project. They also plan to offer NFTs to the first 2,000 visitors to their booth.</p><p>The NFTs will be distributed through Shinhan Bank’s NFT wallet, SOL Wallet, and will come with practical perks such as tickets for events at the booth and coffee coupons. Furthermore, these NFTs will be transferable to others.</p><p>A representative from Shinhan Bank expressed hope that visitors will have the opportunity to experience the bank’s NFTs and gather diverse information related to blockchain technology. The official also emphasized the bank’s commitment to continually developing and introducing blockchain services that can be integrated into customers’ daily lives.</p><h2 id="header-1">Shinhan Bank’s endeavors in blockchain</h2><p>Shinhan Bank’s efforts in the blockchain sector have been marked by various accomplishments in recent years. In 2021, the bank received the Ecosystem Transformation Award at the Enterprise Blockchain Awards, now known as the Web3 and Blockchain Transformation Awards (W3B Awards). This January, Shinhan integrated the SOL Wallet service into its financial services application. The bank remains dedicated to spearheading client-centric blockchain initiatives, one such effort being the development of NFT technology in collaboration with Hexlant and Vircle for corporate marketing purposes.</p><h2 id="header-2">Prohibition on discussing virtual assets</h2><p>Meanwhile, there has been some <a href="https://decenter.kr/NewsView/29X62HHN1V" rel="noopener noreferrer nofollow">dissatisfaction</a> among industry insiders regarding the event’s restrictions. Those operating booths are prohibited from mentioning virtual assets in their projects. The application form for booth holders explicitly <a href="https://www.kisa.or.kr/401/form?postSeq&#61;3191&amp;page&#61;1#fndoDocumentPreview" rel="noopener noreferrer nofollow">stated</a> that exhibitions related to virtual assets are not allowed. This cautious approach is believed to be a response to recent cryptocurrency scandals, such as the $40 billion <a href="https://medium.com/&#64;coinness.gl/sec-seeks-summary-judgment-against-terraform-labs-076d42070287" rel="noopener noreferrer nofollow">Terra-LUNA crash</a> and the controversy surrounding <a href="https://medium.com/&#64;coinness.gl/a-korean-lawmakers-crypto-holdings-worth-4-5m-spark-controversy-29549db01b1b" rel="noopener noreferrer nofollow">a Korean lawmaker’s crypto holdings</a>.</p>

Shinhan Bank to issue NFTs at 2023 Blockchain Grand Week in Seoul

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