Find stats on top websites
Industry Landscape
The Web3 infrastructure industry is rapidly evolving, driven by demand for scalable, efficient, and user-friendly decentralized applications. Key trends include the rise of Layer-1 and Layer-2 solutions, increasing focus on gaming and AI integration, and the push for interoperability and gasless transactions. Despite regulatory uncertainties, innovation continues at a fast pace, attracting significant investment and developer talent.
Total Assets Under Management (AUM)
Blockchain Technology Market Size in South Korea
~Cannot Find
(Cannot Find CAGR)
Cannot Find
Total Addressable Market
Cannot Find
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Modular Blockchains
The evolution from monolithic to modular blockchain architectures allows for specialized layers for execution, data availability, and consensus, significantly improving scalability and customizability.
Zero-Knowledge Proofs (ZKPs)
ZKPs enable verifiable computation without revealing underlying data, offering enhanced privacy and scalability solutions for transactions and smart contract execution in Web3.
Decentralized AI Agents
The integration of AI agents on decentralized networks creates autonomous, transparent, and verifiable intelligent systems, opening new possibilities for dApps and Web3 services.
Impactful Policy Frameworks
Financial Investment Services and Capital Markets Act (FISCMA) Amendments (2023)
The Financial Services Commission (FSC) in South Korea is continuously amending FISCMA to better regulate virtual asset service providers (VASPs) and classify digital assets, with a focus on investor protection and market transparency.
These amendments could impact Saga by clarifying the regulatory status of Chainlets and native tokens, potentially requiring specific compliance measures for entities operating within the South Korean market.
Act on Reporting and Using Specified Financial Transaction Information (2021, amended 2023)
This act, often referred to as the 'Special Act,' mandates that virtual asset service providers (VASPs) must register with the Financial Intelligence Unit (FIU) and adhere to strict anti-money laundering (AML) and counter-terrorist financing (CTF) obligations, including real-name account systems.
The Special Act directly affects Saga's potential partners and projects operating in South Korea by imposing stringent compliance requirements, which could influence the operational models of dApps and Chainlets aimed at the South Korean market.
Digital Asset Basic Act (DABA) (Proposed, 2024 onwards)
South Korea is actively developing a comprehensive Digital Asset Basic Act (DABA) to establish a clear legal framework for digital assets, covering everything from issuance and distribution to trading and investor protection, aiming for a phased implementation.
The eventual enactment of DABA will provide much-needed legal clarity for the Web3 infrastructure sector in South Korea, potentially defining how Chainlets and their associated assets are categorized and regulated, which could either foster or constrain innovation for Saga's ecosystem in the region.
Transform Your Ideas into Action in Minutes with WaxWing
Sign up now and unleash the power of AI for your business growth
