South Korean authorities seem to be taking blockchain technology more seriously. After a series of regulations targeting this new technology, the South Korean parliament is now extending its session, to discuss ICOs and other aspects of blockchain technology. This is a hint that South Korea is inching closer to making ICOs legal in the country, and there could be an influx of projects launching in this country.
The country is even designating special zones to help facilitate blockchain projects. This means that the next explosion of blockchain projects in S.Korea will be huge. And as this space explodes, one blockchain platform that stands to reap big from it all is none other than Icon (ICX), a Korean platform blockchain, for several reasons.
First, it has the advantage of having the backing of several major South Korean and Chinese firms. Some of the Korean companies that support ICON (ICX) include Samsung and Hashed, a group that aims to foster crypto innovations. With such high level support, chances are that South Korean projects that are looking to disrupt Korean industry will most likely launch on ICON (ICX). As this happens, it will have a massive impact on the value of ICON (ICX) in coming months.
Second, ICON is making moves that could see it adopted as a launch platform all around the world. For instance, they have recently launched an accelerator program in the United States that will push up the value of ICON (ICX) as a project launch project for U.S techpreneurs. A global increase in the adoption of ICON as a launch platform for ICOs will see the value of ICON (ICX) rise significantly in the future.
It’s also interesting to note that part of the reason why ICON (ICX) has dropped so hard in the last few months is because the team has missed a few crucial deadlines, related to the project. However, these issues are short-term, and are getting resolved by the day. Once these issues get fully resolved, ICON (ICX) will without a doubt rebound.
It has the fundamentals to push up its value, and the increased positive sentiment towards crypto in South Korea has a way bigger impact than any minor issues that ICON (ICX) has at the moment. All it will take is a few good projects launching on the ICON blockchain and it will open the flood gates for others to launch on this blockchain.
Besides, at its current price levels, ICON (ICX) may have already hit the bottom. ICON (ICX) is currently trading at under $1 a massive discount when compared to its all-time highs. With the ICO tide turning positive in South Korea, chances are that platform blockchains will rebound. The most undervalued are the ones that stand to draw in most investors, and ICON is definitely one of them. An upsurge in interest could see ICON (ICX) test $10 in coming months. It’s the crypto to watch now that everything in crypto is for sale.