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Vilnius And Seoul Blockchain Collaboration Bringing Europe And Asia Closer Together

Vilnius and Seoul blockchain collaboration bringing Europe and Asia closer together

Blockchain Centre Vilnius and Seoul Startup Hub are further consolidating their positions as centres for facilitating cooperation and collaboration between the greatest blockchain minds of Europe and Asia. Seoul Startup Hub has paved the way for Korean startups not just to the Lithuanian capital, Vilnius, but also to wider markets in the European Union.  The greatest blockchain startups from South Korea will be able to reach Europe via Blockchain Centre Vilnius and vice versa.  This was made possible by a collaborative partnership agreement between Blockchain Centre Vilnius and the Seoul Startup Hub!

Lithuania and South Korea are well positioned to become leaders in blockchain technology worldwide, with both parties recognising that this technology of the future will create a significant number of value-added jobs in both countries. As stated in a memorandum of understanding signed by both parties in Seoul: “Blockchain is a progressive technology that empowers start-up entrepreneurs, promotes transparency and efficiency in public administration, and reduces the cost of operations in traditional industries.”

Mr. Bong-jin Koh, the Head of Seoul Startup Hub said: “The meaning of the collaboration of Seoul Startup Hub with Blockchain Centre Vilnius is twofold: First, as a founding member of the Seoul Metropolitan Government’s blockchain initiative, Seoul Startup Hub will benefit greatly from the experiences and networks of Blockchain Centre Vilnius in blockchain research and development as well as commercialisation. Second, the vibrant startup ecosystem of Lithuania will be a basecamp for Korean startups in getting used to European business environments, thus preparing those intending to expand their businesses into Europe”.

This year the Seoul Startup Hub is planning to open a blockchain division and intends to incubate some 30 blockchain startups per year.  Since the agreement between the Lithuanians and Koreans opens up access to their facilities and contacts to start-ups referred by the other, those startups will potentially have the opportunity to  enter the European Union with assistance from the Blockchain Centre Vilnius, and vice versa.

”It is a win-win combination”, said Eglė Nemeikštytė, CEO of Blockchain Centre Vilnius. “We are extremely happy to find such a progressive partner in Seoul, one of the most technologically advanced cities in the world. Vilnius, on the other hand, is an important gateway to Europe for blockchain technology. Merging the excellent expertise of these two great cities will bring fantastic results, and we are looking to this collaboration with great expectations!”

Blockchain Centre Vilnius is the first blockchain technology centre connecting key stakeholders in Asia, Australia, and Europe. Its network represents a unique gateway to access trustworthy advisors, business intelligence, and start-up capital for regulators and civil servants.  Its platform offers a chance to advance the discussion beyond the “sandbox” and make distributed ledger technology a positive force for change in how daily processes run and how value is exchanged between stakeholders.

The Blockchain Centre Vilnius provides co-working space for blockchain startups, identifies promising talent and connects international investors.  It helps to establish business connections in Europe, Asia, Australia and South America.  We can evaluate start-up and initiate blockchain start-up projects and advise members of the community on technology, legal, tax, & marketing.  The Centre holds events and is building a community of blockchain professionals, conducts blockchain training programmes for professionals and represents our partners and investors at international forums.  We advocate a favourable legal and tax environment in Lithuania and Europe, and engage with regulators to address the challenges of blockchain technology.

The Seoul Startup Hub was established in 2017 by Seoul Metropolitan Government and is run by the Seoul Business Agency.  The Hub is aiming to become the gateway for startups in enhanced networking solutions as well as by helping startups to incubate and grow faster.  The Hub offers working places, business support, seed money, investment opportunities and networking events for them. It offers incubation in the early stage of development, business services, PR and legal consulting which is provided by partners in residence (accelerators, investors, law firms, and marketing agencies, etc).  The Seoul Startup Hub will offer a generous access to their services and network to startups referred by the Blockchain Center Vilnius.

Blockchain Centre Vilnius and Seoul Startup Hub will work together to explore blockchain potential in high technologies and this collaboration agreement has opened great opportunities for the both countries to keep their heads above water of the rapidly growing ocean of blockchain technology.

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