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Upbit will provide a full digital asset white paper


Aug 23, 2022

Upbit, a domestic virtual asset exchange, announced on the 23rd that it will provide a full digital asset white paper in Korean to create a healthy investment culture.

A white paper is a business plan prepared by a digital asset issuer.

The white paper contains the overall contents of the coin, including team composition, issuance and distribution plans of digital assets, and technology.

Investors can check the business direction that digital asset issuers intend to pursue through the white paper.

It is the same concept as investment manuals and securities reports submitted to the Financial Supervisory Service when companies are listed on the stock market.

However, most of the virtual asset industry’s white papers are mainly written in English due to the nature of the digital asset business targeting the global market, so investors cannot easily understand technical terms such as blockchain, which is already difficult to understand.

Accordingly, Upbit has been working on translating English white papers into Korean since February.

Professional and excellent translation personnel with a high understanding of blockchain technology participated in the translation work.

As of this day, there are a total of 27 Korean white papers provided by Upbit, and up to 60 pages of white papers are provided in Korean.

Upbit plans to provide a Korean white paper on all digital assets traded in Upbit by next year.

An Upbit official said, “We have been working on Korean translation of the white paper to resolve digital asset information asymmetry and strengthen investor protection. Upbit and Upbit Investor Protection Center will continue to make efforts to create a right and sound digital asset market.”

Meanwhile, the Korean white paper provided by Upbit can be found on the “Information” tab of individual digital assets in Upbit applications (apps) and homepages and on the “Investigation and Research” tab of the Upbit Investor Protection Center website.

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