Cardano's venture arm partners with Korean trade associations to drive adoption

Cardano's official commercial and venture arm, Emurgo, signed a memorandum of understanding with two government-approved trade associations in Korea.

The partnerships will focus on implementing Cardano for Korean digital content and mobile gaming.

The company's official partner and commercial arm, Emurgo, partnered with two trade associations in Korea.

According to an Aug. 20 press release, Emurgo formally signed a memorandum of understanding with the Korea Blockchain Contents Association and the Korea Mobile Game Association, both of which are approved by the South Korean Ministry of Science and ICT. The partnership will bring the companies together and help them develop Cardano's blockchain-based solutions.

Emurgo will work on integrating Cardano into the digital content and mobile gaming industries, two of the fastest-growing sectors in Korea.

Korea's gaming craze a perfect environment for blockchain.

Considering that Korea has the highest smartphone penetration and mobile gaming rates in the world, the country is the perfect tech-savvy environment for driving blockchain-related adoption.

The high rate of smartphone ownership has made South Korea one of the biggest consumers of online content.

An eMarketer study found that Korean adult consumers spend more than half of their time online on digital content platforms.

In combination with mature technological infrastructure, Korea will be a perfect place to implement Cardano's third-generation blockchain-based solutions, Emurgo said in its press release.