The mastermind of the partnership is Korean blockchain company ASTON. Other member companies include Singaporean crypto exchange BCOin.sg, South Korea’s Bmax.io, and a blockchain center afflicted to OhKims Law & Company. Later on, Neo Global Capital (NGC), a Singaporean cryptocurrency fund, is expected to join the consortium. NGC is planning to launch a cryptocurrency fund worth KRW 20 billion. The fund will provide financial support for the development of blockchain consortium.
The role of developing the mainnet will be allocated to ASTON, since it is the only technology firm in the group. Moreover, ASTON will develop DApps, provide technical assistance concerning blockchain, nurturing promising startup and providing financial aid. OhKims Law & Company will help ASTON by offering consultancy services on investment.
The Asia Blockchain Promotion Global Consortium is expected to launch officially in Singapore at the end of November. Its first meeting will coincide with the inauguration ceremony. Also, the consortium will organize a ‘startup idea contest’ where promising startups will be identified and get rewards.