The South Korean blockchain company Temco has received financial support from one of the country’s leading venture funds, Korea Investment Partners (KIP), Temco said in a statement on Monday. The amount of money raised was not disclosed.
KIP backed Temco because of the potential in distributed ledger technology (DLT), Jong Hyun Kim, Fintech Investment Board Member of KIP explained in the press release. Temco is one of the several new players that want to build supply chain systems by using blockchain. Temco plans to implement the proof-of-work (PoW) protocol, the algorithm of
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