According to the National Assembly and the Ministry of Science and Technology and Information Communication
Special law to Promote Information Communication will be declared after the meeting and will be started in three months.
This special law in known to include sandbox for blockchain and cryptocurrency. Sandbox can be understood as two meanings one as freedom in certain boundary and the other as protecting to promote business especially for IT field. If a company ask for regulatory sandbox they will be allowed not to get interfered with regulatory problems which will help the company to go through service completion and technical verification.
The revision of this law will possibly be declared in October and will be implemented next January.
Since there was no fixed law for blockchain and cryptocurrency service. This revision will lead to progress in blockchain and cryptocurrency field. Those who were related to this field will actively start the business thanks to the revision of law.
However, in case of ICO instead of applying the revised law it might be held in special zone such as Jeju Island, which has dreamed of forming blockchain hub.
Jeju Island as a International tourist zone tried to bring blochain technology into various kind of government affair. Furthermore with alleviated regulations for blockchain and cryptocurrency Jeju island visioned to attract companies to start business like Zug in Switzerland, Singapore, Hong Kong.
With the expectation in this new positive atmosphere the Bryllite team which approached from superior perspective attempting to converge game and blockchain will play an important role in new game ecosystem.
Beyond the game boundaries
Bryllite Team suggesting a new paradigm.