Charles Hoskinson, co-founder of the Ethereum blockchain and CEO of Input Output, is turning his attention to South Korea as a hub for the next wave of innovation at the intersection of blockchain and AI, technologies he believes hold vast potential for both public and industrial benefit.
During a recent visit to Seoul, Hoskinson met with technology leaders and industry stakeholders to explore collaboration opportunities.
He commended the South Korean government’s plan to establish a ₩100 trillion (approximately US$70 billion) AI investment fund, expressing strong interest in contributing to the country’s ambitious vision.
Speaking to The Korea Herald, Hoskinson said:
“Several projects in Korea excite us greatly, and we see enormous potential for blockchain to intersect with them. There’s tremendous opportunity for blockchain and AI to work together for the benefit of the people.”
Hoskinson highlighted blockchain’s potential to transform Korea’s manufacturing, supply chain and electronics sectors by enhancing transparency, efficiency and innovation across key parts of the economy.
He noted that geopolitical tensions between China and the US have made supply chains less accessible, suggesting blockchain could help by improving traceability and diversification.
“Samsung, a pioneer, even ships every Galaxy phone with a Knox-based blockchain wallet,”
he said.
Samsung first introduced its cryptocurrency wallet with the Galaxy S10 in 2019, supporting major tokens such as Bitcoin and Ethereum.
Secured by the company’s Knox platform, the wallet stores private keys within the isolated Samsung Blockchain Keystore.
“Korea’s crypto market is efficient to navigate, with about 25 dominant companies, four controlling 90% of the market. That makes a short trip extremely productive,”
Hoskinson added, assessing the country’s blockchain ecosystem for its efficiency and innovation.
He described Korea as part of a broader Asian “family” alongside Japan and Singapore, while noting the unique local dynamics such as the “Kimchi Premium”.
“Adoption has grown massively, and evolving regulation around taxes and digital assets is providing greater clarity and consumer protection,”
he said.
Hoskinson also praised Korea’s regulatory progress.
The Virtual Asset User Protection Act (VAUPA), which took effect in July 2024, prioritises user protection and compliance, though some critics argue it leaves parts of the industry underregulated.
In June 2025, Korea advanced its digital asset framework by passing the Digital Asset Basic Act (DABA).
Once implemented, DABA is expected to complement VAUPA by clarifying licensing, reserve and operational requirements for stablecoin issuers and other digital asset firms, addressing payment potential and systemic risk concerns.
“This is extraordinary progress. It’s encouraging to see that globally, in the US, Korea and other countries, we’ve collectively turned a page and are back to innovating in the industry rather than over-regulating it,”
Hoskinson said.
Asked about his broader vision for blockchain, he explained that it should be seen as “faster money, safer money, less fraud, instant global transfer of value, and better tools for entrepreneurs.”
He also emphasised that “open-source, decentralised systems prevent monopolies, protect privacy and give consumers ownership of their data.”
Hoskinson described his latest project, Midnight, as a transformative platform for blockchain adoption.
“Midnight focuses on consumption rather than ownership. Korean partners can lease services without holding tokens. This provides governments and corporates a ‘free pass’ to experiment with blockchain solutions in privacy, identity and compliance.”
He envisions blockchain converging with AI, healthcare and government technology (govtech) to deliver real-world impact.
“Stablecoins, health care, and govtech are big opportunities. Midnight bridges privacy with compliance, enabling safe, regulated stablecoin use. In health care, blockchain can protect data, secure clinical trials and improve patient outcomes,”
he said.
Hoskinson commended Korea’s strong and structured crypto ecosystem, supported by regulations such as the Act on Reporting and Use of Certain Financial Transaction Information (CFTIA) and DABA.
The CFTIA requires foreign virtual asset service providers dealing with Korean users to report relevant transactions to the Korea Financial Intelligence Unit.
“Korea is a phenomenal market for cryptocurrency, with more than 15 million holders, over 30% of the population,”
he said, noting that major corporations like Samsung and SK are also leading global AI initiatives that could engage millions of users.
On the issue of accountability in crypto, Hoskinson underscored the importance of decentralisation:
“People think: ‘If something goes wrong, I want someone to put in jail.’ But decentralised protocols don’t work that way. True accountability comes through compliance, custody standards and blockchain-based disclosure, not by centralising the industry.”
“Partnerships build trust, trust builds cooperation and cooperation leads to innovation and real solutions. Blockchain should be the invisible trust layer for economic, political and social systems,”
he added.
Hoskinson, an American entrepreneur and mathematician, is best known as the co-founder of Ethereum.
He currently leads Input Output (IO), the Web3 engineering company behind the Cardano blockchain platform.
Born in Hawaii, he studied mathematics at Metropolitan State University of Denver and the University of Colorado Boulder before leaving a consulting career in 2013 to pursue cryptocurrency full-time.
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