Sasha Ivanov, founder of Waves and Units.Network / Courtesy of Units.Network

Korea has always been ahead of the curve when it comes to technology adoption. Pair that with a highly digitized economy and challenges with traditional investment opportunities?

This is how the most active cryptocurrency markets in the world are born, according to a Dubai-based blockchain expert.

Sasha Ivanov, founder of Waves and Units.Network, said that Korean businesses, especially in gaming, e-commerce and fintech, are integrating blockchain into their existing ecosystems to enhance security, transparency and efficiency.

This, together with ample investments, boosts the demand for interoperable and developer-friendly blockchain solutions.

Waves is a global open-source platform for decentralized applications and Units.Network is an interconnected blockchain ecosystem promoting collaboration and innovation with cross-chain solutions.

Since 2013, Ivanov has launched several startups with a focus on integrating blockchain technology into finance.

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Crypto craze

More than 7 million Koreans, or 15 percent of the population, are registered on crypto exchanges to trade cryptocurrencies. Many of them are part of the younger generation who are seeking alternatives to conventional stock markets, drawn by the potential for outsized returns.

Unlike the fixed trading hours and limited volatility of the main bourse KOSPI and the secondary Kosdaq exchanges, cryptocurrency markets operate around the clock, providing traders with constant opportunities to enter and exit positions.

"This combination of factors fueled Korea's crypto boom," Ivanov said.

He added that both Web 3.0 entrepreneurs and institutional players would be able to gain a stronger footing in the years to come, as indicated by the close blockchain integration of Korea's strengthening startup ecosystem and corporate titans, including Samsung, Kakao and Naver.

Web 3.0, the next generation of the internet, seeks to create a more open, transparent and user-oriented internet, enabled by decentralized control through blockchain. It aims to resolve the drawbacks of the current Web 2.0 model whereby platforms are owned by centralized entities.

"The Korean market is characterized by its advanced technological infrastructure, a highly educated workforce and a government that actively supports blockchain innovation," Ivanov said. "This signals that blockchain technology is here to stay, even as regulators refine their approach to digital assets."

While Korea remains cautious about crypto regulations, it has actively supported blockchain innovation through initiatives such as Busan's blockchain regulation-free zone.

Web 3.0, the next generation of the internet, seeks to create a more open, transparent and user-oriented internet, enabled by decentralized control through blockchain.

Blockchain

Cryptocurrency trading is often the first step toward blockchain technology adoption, but it rarely stops there.

Once people are comfortable navigating wallets and exchanges, they start asking bigger questions: What's the technology behind this? How do smart contracts work? How can blockchain be applied beyond trading?

This curiosity propels innovation at both an individual and institutional level.

"For example, blockchain-powered digital identity verification is being explored for online services, while logistics companies are testing decentralized tracking systems for supply chain management," he said.

Korea's tech conglomerates are investing heavily in tokenized assets and real-world blockchain applications, paving the way for widespread adoption beyond trading.

This is why Ivanov is looking to partner with major Korean firms that have the technical expertise, significant market influence and the capability to scale with blockchain technology.

Scalability refers to the capability to handle an increasing amount of work for growth while maintaining efficiency without compromising performance or security.

On the financial side, Korea's push toward real-world asset tokenization aligns with the kind of infrastructure being built in Units.Network, he noted.

"Leading Korean organizations are well-positioned to drive widespread adoption of innovative blockchain solutions while fostering sustainable growth within the ecosystem."

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Staking, restaking

Staking enhances blockchain security by aligning incentives between network participants and the protocol.

Staking is a crypto process that allows network participants to earn rewards by locking their coins in wallets. These coins are then used to validate network transactions or as a liquidity source.

"Validators are required to lock up tokens as collateral, ensuring they act honestly. This mechanism discourages attacks while securing the network through decentralized consensus," Ivanov said.

Staking is already widely adopted in Korea, he added, as more investors look for ways to earn passive income beyond simple trading.

"In Korea, staking promotes decentralization while providing an entry point for users who may be new to blockchain. Moreover, staking can facilitate green blockchain initiatives, aligning with Korea's commitment to sustainability and energy efficiency."

He goes a step further and asks: "What is restaking, and how can it enable interoperability among blockchain networks?"

Restaking is a breakthrough in capital efficiency and cross-chain security, Ivanov explains.

Instead of locking up assets for a single network, restaking allows staked tokens to be used across multiple blockchains simultaneously, ensuring greater security and liquidity across ecosystems.

"This is critical for interoperability, one of blockchain's biggest challenges today. Centralized bridges have historically been the weakest link in cross-chain transactions, leading to billions of dollars in exploits. We are pioneering the use of restaking to ensure that DeFi applications, liquidity pools and tokenized assets can seamlessly operate across multiple blockchains without compromising security."

DeFi, or decentralized finance, is an emerging peer-to-peer financial system that uses blockchain and cryptocurrencies to allow people, businesses, or other entities to transact directly.

The expert said Korea's fast-growing DeFi sector means that liquidity providers, institutional investors and developers can do more with their assets — whether it's staking, lending, governance participation, or cross-chain trading.

"In the long run, this helps create a more efficient, capital-rich blockchain ecosystem, reducing fragmentation and bringing decentralized finance closer to traditional financial markets."