WWW.BLOCKCAST.CC2022 was a chaotic year in crypto, with the collapse of FTX stealing the headlines. But there were also other developments beyond collapsing prices and fallen CEOs. We interviewed the Head of Strategy and Innovation at Celo, Nikhil Raghuveera, on one such development. Celo is a top 100 cryptocurrency with its unique factor being that […]
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The Task Force (TF) team took its first step to discover and support new technology-based industries in response to rapid changes in the social and economic structure and technology. The government plans to provide intensive support in five areas, including cloud and blockchain, intelligent robots, digital healthcare, and metaverse.
On the afternoon of the 9th, Vice Minister of Strategy and Finance Lee Won Won presided over the’New Industry Strategic Support TF’ kick-off meeting at the Seoul Government Complex.
The TF is the Ministry of Information and Communication, Ministry of Science and Technology, Information and Communication, Ministry of Culture, Sports and Tourism, Ministry of Health and Welfare, Ministry of SMEs and Ventures, Finance Committee, Ministry of Food and Drug Safety, Ministry of Trade, Industry and Energy, Ministry of Public Administration and Security, Ministry of Education, Korea Chamber of Commerce, etc. It consists of
At the meeting, the core tasks and future schedules in five areas were discussed, including cloud, block chain, intelligent robot, digital healthcare, and metaverse. The Ministry of Science and Technology is responsible for cloud and blockchain, the Ministry of Industry for intelligent robots, the Ministry of Welfare for digital healthcare, and the Ministry of Science and Technology for Metaverse and the Ministry of Culture and Sports.
The working group consisting of the head of the relevant department (level 1), related departments, research institutes, etc., holds meetings once or twice for each working group in the middle of this month, and discusses the core tasks of each working group and collects opinions on policy demand. Will come up with and implement the desired measures.
In the future, the TF will discover supported industries by considering the private investment direction, social and economic ripple effects, growth potential, and competitiveness. Next, based on the technology level and market situation analysis by new industry, the’core project’ that is most necessary for the growth of the industry will be promoted.
In the process of operating the TF, the private sector’s initiative in innovation is promoted for the growth of new industries, and the government always communicates and supports the private sector through policy councils such as the Korea Chamber of Commerce.
The industrial strategies and core tasks discovered through the TF are announced in sequence through the Innovation Growth Strategy Meeting. The government is planning to review the TF’s continued operation, such as discovering additional tasks, taking into account the TF’s operational performance and future trends in new industries.
Having seen Bitcoin-related success, Anthony Scaramucci appears to be increasingly crypto-focused recently. In a new interview, Founder of SkyBridge Capital, a hedge fund, revealed that other than the leading crypto asset, no other crypto has impressed him enough.
I am singularly focused on Bitcoin…I am not going towards Dogecoin, Ethereum, other cryptos or other digital assets, I’m with the big dog.
At the end of Trump’s presidency, Scaramucci established a Bitcoin Fund which currently has about half a billion dollars in Bitcoin. According to the former White House staff, the fund has “done quite well” so far.
Scaramucci’s Skybridge Capital established its fund when Bitcoin was trading in the $31,000 range following which the asset surged to $58,000. The firm had invested about $310 million in Bitcoin during November and December 2020. As a result of the asset’s rally from then on, the firm’s Bitcoin fund naturally appreciated. In fact, in its first few weeks, the fund grew to $360 million dollars, according to COO Brett Messing.
Having gained from his firm’s Bitcoin-related activities, it is not surprising that Scaramucci may now be turning to his maximalist roots. He confessed that the asset’s ability to retain its number one spot over all other digital currencies has been “good enough” for him. He further said:
It’s 12 years old, it has been subjected to 8,300 different competitors to try to knock its block off, and yet it sits there [at the top]… that’s good enough for me.
But Scaramucci seems to have other plans that lean on Bitcoin evangelism. For now his “number one goal” is in trying to “convert people from crypto naysayers” or people that are in his opinion, short on crypto and added:
Just getting them into Bitcoin I think is going to be hard enough. You’ve heard the acronym FUD: fear, uncertainty, and doubt. Well, we manage money for a lot of fuddy-duddies.
In his opinion, saying “the same thing over and over again with great enthusiasm” will help him achieve his goals. However, he hoped that in “six months, 12 months, 18 months” he will be able to decide “to move into other coins or other crypto ideas.”
For now, the former White House Communications Director sees potential in Bitcoin alone. Earlier, Scaramucci predicted that the asset would face high market demand, which due to its limited supply cap could double the asset’s price to almost $100,000 before the end of this year.
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