Top Korean Actor Invests in Blockchain Seafood Trade Startup

Preferred South Korean actor and businessman Bae Yong-joon has invested an undisclosed sum in blockchain-dependent seafood trade startup Seamon.

Revealing the news completely to CoinDesk Korea, Seamon head Lee Jung-hoon mentioned that, even though he are not able to disclose the amount of Bae’s expense, it is “a significant amount” worth “more than tens of millions” of South Korean gained. One hundred million gained is worth all-around $88,510 at press time.

Lee further more mentioned that Bae has long been interested in the food stuff enterprises, including maritime items. So, when Lee requested Bae to be an advisor to the Seamon task, he instead “signed an expense deal past thirty day period.”

Seamon is producing a blockchain-dependent seafood transaction and good deal method, according to facts from its white paper. The task aims to make international seafood transactions “as transparent as feasible, cut down avoidable expenses, and accomplish the a lot quicker and safer worldwide transactions.”

The crew is also building a cryptocurrency known as Seamon coin, which will be employed in payments and as a retail store of value. It is also setting up to launch an trade known as SeamonX for seafood trading market place in Q3 or Q4 of this 12 months, the white paper suggests.

The task aims to deal with widespread complications with the international trade in maritime items these as defaulting on payments, or late payments. With maritime items, this is a significantly very important challenge to clear up, as their freshness promptly expires, the report says.

Importers will be ready to buy Seamon cash from SeamonX and trade them for items, earning payments in true time. Exporters will be ready to trade the tokens for fiat currencies like the U.S. greenback, or the stablecoin tether (USDT), Lee mentioned.

Seamon coin is presently listed on the BCEX trade with the ticker symbol SMEX, according to CoinDesk Korea. The trade will also carry out a free of charge distribution, or “airdrop,” of about 5 billion gained ($4.42 million) in tokens from March 25.

CoinDesk Korea also provides that the news marks Bae’s very first acknowledged expense in a blockchain startup. His internet worth is believed at all-around $135 million.

Korean fish market place image by using Shutterstock