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The Far East is showing tremendous promise in the world of crypto-currency exchange and recognition. Two of South Korea's largest banks have been taking numerous bold steps to encourage the crypto-financial revolution across Asia.

Shinhan and Woori have both supported the concept in their own ways. Shinhan has been especially active in this, teaming with an Ethereum startup, Omise and OmiseGO, to develop methods of payment and banking via blockchain. The founding CEO of Omise, Jun Hasagawa, said this about the signing of a Memorandum of Understanding between the two entities;

Image Source: https://www.omise.co/omise-and-omisego-sign-mou-with-shinhancard-to-explore-opportunities-for-fintech-and-blockchain-initiatives

“Omise and OmiseGO are working to revolutionize the way digital value moves globally, with an end goal of creating a platform that facilitates a decentralized economy. The OMG platform, using the Plasma architecture, is being built as a public network that is powered by Ethereum. The first phase of the wallet SDK was recently released and is available for anyone to use. We want to make it easy for those who need online asset exchange as part of their business to connect seamlessly to the OMG Network.”

Together, Shinhan and Omise are expected to incorporate blockchain technology into numerous facets of common banking services, such as credit cards. Shinhancard would be the first major application of its kind if this happens, which might be a significant edge for other banks to mimic and improve upon. This advent is especially relevant because it sets a precedent, or at least a trial, which will cast its shadow upon all crypto-currencies walking the same path.

Image Source: https://www.ccn.com/south-koreas-largest-banks-are-pro-cryptocurrency-omisego-secures-deal/

Of course, this is all one side of a double edged sword. South Korea and many other governments are enacting regulations and tightening nooses around what they consider to be "unregulated" crypto-currencies. As approval grows by freedom, rules are made by all parties threatened under the potential of something which, at it's core, is the deliberate antithesis of the kinds of institutions it threatens.

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These regulations will of course suffocate many more new currencies, while others will grow slowly by adapting to them. Only one crypto-currency can boast that it will supercede and inevitably replace both sides of this spectrum. GODcoin is not made to "conquer the world," but the powers behind it will. That much is already underway. The question at this midway stage is who will fit where; those coming to buy in at the last minute, desperately relying on the selling worth of their failed investments, or those who recognize an opportunity now and stand at the summit of influence later.