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KPC4IR Helping to Create Global Standards for Virtual Transactions
KPC4IR will join the task force for the Global Implementation of Travel Rule Standards The KAIST Policy Center for the Fourth Industrial Revolution (KPC4IR) will participate in a global initiative to create global standards for virtual asset transactions. As a member of the GI-TRUST (Global Implementation of Travel Rule Standards) task force, the KPC4IR will develop technical standards and relevant policies that support the global implementation of the travel rule for virtual assets in compliance with the recommendations of the Financial Action Task Force’s (FATF). The FATF is an intergovernmental organization founded in 1989 by the G7 to develop policies to combat money laundering. In June 2019, the FATF extended its Recommendation 16, commonly known as the “travel rule,” to virtual asset services providers (VASPs), requiring both financial institutions and VASPs to aggregate information on the senders and recipients of wire transfers and exchange this information between parties to create a suitable audit trail. According to the FATF’s recommendation and the G20’s support, jurisdictions, especially G20 member countries, have now applied the travel rule to their respective local laws. Korea also amended the Act on Reporting and Using Specified Financial Transaction Information in March 2020 to include virtual assets in their regulatory scope by March 2022. The GI-TRUST task force will collaborate with global and local organizations developing travel rule technologies and offer a neutral assessment of proposed solutions. Their activities are aimed at standardizing related authentication protocols and security technologies that help VASPs comply with the travel rule. The task force will also aid in the pilot testing of travel rule solutions for certain VASPs in Korea. Afterwards, the task force will report on the performance and reliability of the tested travel rule solutions for actual virtual asset transactions, in compliance with the FATF’s guidance. Besides the KPC4IR, the GI-TRUST task force includes the Global Blockchain Business Council (GBBC), International Digital Asset Exchange Association (IDAXA), and Korea Blockchain Association (KBCA). Director of the KPC4IR Professor So Young Kim will co-chair the task force. Professor Kim said their approach should be prudential in dealing with the regulations that rely on secure real-name data on top of the opposing governance style of pseudonymization, distribution, and recombination. She explained, “KAIST has designed the co-evolution of technologies and institutions in conjunction with the global leaders’ groups such as the World Economic Forum and the EC Joint Research Center.” She expects KAIST’s interdisciplinary, global cooperation to untie the entangled problem between regulations and technologies that obstruct future pathways.
KPC4IR Leads the Global Blockchain Standards Via Korea Innovation Studies
The Korea Policy Center for the Fourth Industrial Revolution (KPC4IR) at KAIST will play a leading role in the Global Standards Mapping Initiative (GSMI) 2.0 as the Chair of Working Group on South Korea at the Global Blockchain Business Council (GBBC). The GBBC, a Swiss-based non-profit consortium, established the GSMI to map blockchain technology ecosystem, established the GSMI to map blockchain and digital asset standards and regulation globally. The initial release of the GSMI mapped data and outputs from ons, 185 jurisdictions, nearly 400 industry groups, and over 30 technical standard-setting entities. The GSMI Working Group on South Korea is the only group that will investigate the country-level innovation of blockchain and digital asset alongside six Korean blockchain associations: The GSMI Working Group on South Korea is the only group that will investigate the country-level innovation of blockchain and digital asset alongside six Korean blockchain associations: the Korea Blockchain Association, the Korea Society of Blockchain, Blockchain & Law, the Open Blockchain and DID Association, the Korea Blockchain Startup Association, and the Korea Blockchain Industry Promotion Association. Individual members also joined from the Inter-American Development Bank, Blockchain Labs, and GOPAX. The GSMI Working Group on South Korea, chaired by KAIST, will leverage their experience in blockchain adoption to assist in setting global standards for the ecosystem. The Group will also highlight how South Korea can be a testbed for ITC adoption and open the door to a blockchain-ready world. GSMI 2.0 is spearheaded by nine working groups chaired by institutions, such as the World Economic Forum and the GBBC, Ernst & Young, HM Revenue and Customs, Accenture, and Hyperledger - Linux Foundation. Each of the Working Groups will be supported by sixteen fellows from eight fellow program partners. KAIST student Yujin Bang is the South Korea Working Group fellow. The GBBC and the WEF already published the first volume of the GSMI in October 2020 in collaboration with world-leading institutions, including KAIST, MIT Media Lab, and Accenture. Director of the KPC4IR Professor So Young Kim said, “The designation of KAIST is the result of continued collaborations with the WEF. The participation of this working group will help Korea’s global leadership with blockchain standards.”
Experts to Help Asia Navigate the Post-COVID-19 and 4IR Eras
Risk Quotient 2020, an international conference co-hosted by KAIST and the National University of Singapore (NUS), will bring together world-leading experts from academia and industry to help Asia navigate the post-COVID-19 and Fourth Industrial Revolution (4IR) eras. The online conference will be held on October 29 from 10 a.m. Korean time under the theme “COVID-19 Pandemic and A Brave New World”. It will be streamed live on YouTube at https://www.youtube.com/c/KAISTofficial and https://www.youtube.com/user/NUScast. The Korea Policy Center for the Fourth Industrial Revolution (KPC4IR) at KAIST organized this conference in collaboration with the Lloyd's Register Foundation Institute for the Public Understanding of Risk (IPUR) at NUS. During the conference, global leaders will examine the socioeconomic impacts of the COVID-19 pandemic on areas including digital innovation, education, the workforce, and the economy. They will then highlight digital and 4IR technologies that could be utilized to effectively mitigate the risks and challenges associated with the pandemic, while harnessing the opportunities that these socioeconomic effects may present. Their discussions will mainly focus on the Asian region. In his opening remarks, KAIST President Sung-Chul Shin will express his appreciation for the Asian populations’ greater trust in and compliance with their governments, which have given the continent a leg up against the coronavirus. He will then emphasize that by working together through the exchange of ideas and global collaboration, we will be able to shape ‘a brave new world’ to better humanity. Welcoming remarks by Prof. Sang Yup Lee (Dean, KAIST Institutes) and Prof. Tze Yun Leong (Director, AI Technology at AI Singapore) will follow. For the keynote speech, Prof. Lan Xue (Dean, Schwarzman College, Tsinghua University) will share China’s response to COVID-19 and lessons for crisis management. Prof. Danny Quah (Dean, Lee Kuan Yew School of Public Policy, NUS) will present possible ways to overcome these difficult times. Dr. Kak-Soo Shin (Senior Advisor, Shin & Kim LLC, Former Ambassador to the State of Israel and Japan, and Former First and Second Vice Minister of the Ministry of Foreign Affairs of the Republic of Korea) will stress the importance of the international community’s solidarity to ensure peace, prosperity, and safety in this new era. Panel Session I will address the impact of COVID-19 on digital innovation. Dr. Carol Soon (Senior Research Fellow, Institute of Policy Studies, NUS) will present her interpretation of recent technological developments as both opportunities for our society as a whole and challenges for vulnerable groups such as low-income families. Dr. Christopher SungWook Chang (Managing Director, Kakao Mobility) will show how changes in mobility usage patterns can be captured by Kakao Mobility’s big data analysis. He will illustrate how the data can be used to interpret citizen’s behaviors and how risks can be transformed into opportunities by utilizing technology. Mr. Steve Ledzian’s (Vice President, Chief Technology Officer, FireEye) talk will discuss the dangers caused by threat actors and other cyber risk implications of COVID-19. Dr. June Sung Park (Chairman, Korea Software Technology Association (KOSTA)) will share how COVID-19 has accelerated digital transformations across all industries and why software education should be reformed to improve Korea’s competitiveness. Panel Session II will examine the impact on education and the workforce. Dr. Sang-Jin Ban (President, Korean Educational Development Institute (KEDI)) will explain Korea’s educational response to the pandemic and the concept of “blended learning” as a new paradigm, and present both positive and negative impacts of online education on students’ learning experiences. Prof. Reuben Ng (Professor, Lee Kuan Yew School of Public Policy, NUS) will present on graduate underemployment, which seems to have worsened during COVID-19. Dr. Michael Fung’s presentation (Deputy Chief Executive (Industry), SkillsFuture SG) will introduce the promotion of lifelong learning in Singapore through a new national initiative known as the ‘SkillsFuture Movement’. This movement serves as an example of a national response to disruptions in the job market and the pace of skills obsolescence triggered by AI and COVID-19. Panel Session III will touch on technology leadership and Asia’s digital economy and society. Prof. Naubahar Sharif (Professor, Division of Social Science and Division of Public Policy, Hong Kong University of Science and Technology (HKUST)) will share his views on the potential of China in taking over global technological leadership based on its massive domestic market, its government support, and the globalization process. Prof. Yee Kuang Heng (Professor, Graduate School of Public Policy, University of Tokyo) will illustrate how different legal and political needs in China and Japan have shaped the ways technologies have been deployed in responding to COVID-19. Dr. Hayun Kang (Head, International Cooperation Research Division, Korea Information Society Development Institute (KISDI)) will explain Korea’s relative success containing the pandemic compared to other countries, and how policy leaders and institutions that embrace digital technologies in the pursuit of public welfare objectives can produce positive outcomes while minimizing the side effects. Prof. Kyung Ryul Park (Graduate School of Science and Technology Policy, KAIST) will be hosting the entire conference, whereas Prof. Alice Hae Yun Oh (Director, MARS Artificial Intelligence Research Center, KAIST), Prof. Wonjoon Kim (Dean, Graduate School of Innovation and Technology Management, College of Business, KAIST), Prof. Youngsun Kwon (Dean, KAIST Academy), and Prof. Taejun Lee (Korea Development Institute (KDI) School of Public Policy and Management) are to chair discussions with the keynote speakers and panelists. Closing remarks will be delivered by Prof. Chan Ghee Koh (Director, NUS IPUR), Prof. So Young Kim (Director, KAIST KPC4IR), and Prof. Joungho Kim (Director, KAIST Global Strategy Institute (GSI)). “This conference is expected to serve as a springboard to help Asian countries recover from global crises such as the COVID-19 pandemic through active cooperation and joint engagement among scholars, experts, and policymakers,” according to Director So Young Kim. (END)
Education, a Silver Lining in the Dark COVID-19 Cloud
If there is a silver lining behind the COVID-19 pandemic clouds engulfing the world in darkness, it would be ‘education’. The disruption caused by the pandemic has reminded us of the skills that students need in this unpredictable world and raised public awareness of guaranteeing continuous, fair, and quality learning opportunities. Educational innovation can become a positive and powerful catalyst to transform the world for a better future in the post-COVID era. According to the speakers at the virtual forum co-hosted by the Global Strategy Institute (GSI) and Korea Policy Center for the Fourth Industrial Revolution (KPC4IR) at KAIST on June 24, the recent transition to remote education amplifies the existing socio-economic disparities between the haves and the have-nots, and narrowing the digital divide is the most urgent challenge that should be addressed in this ever-evolving technology-dominating era. They also called for students to be resilient despite the numerous uncertainties ahead of them and prepare new skill sets to better adjust to new environments. KAIST launched the GSI as its think tank in February of this year. The GSI aims to identify global issues proactively and help make breakthroughs well aligned with solid science and technology-based policies. The second forum of the KAIST GSI, following its inaugural forum in April, was held under the theme “Envisioning the Future of Education for a Non-Contact Society in the Post-Coronavirus Era”. In his opening remarks, KAIST President Sung-Chul Shin stressed that “distance teaching and learning will eventually become integral components of our future education system”. He then called for close collaboration between the public and private sectors to better shape the future of digital education. President Shin said that global cooperation is also needed to continue offering inclusive, quality education that can equally benefit every student around the world. “We should never let a crisis go to waste, and the COVID-19 pandemic is no exception,” he added. CEO of Minerva Schools Ben Nelson described the current coronavirus crisis as “an earthquake happening deep down on the ocean floor – we don’t feel it, but it can cause a devastating tsunami.” He continued, “Online learning can totally change the current education system forever.” Saying that blended education, which combines online and offline classes, will be the new norm in the post-coronavirus era, Coursera CEO Jeff Maggioncalda anticipates that institutions will have to offer more and more online courses and credentials, and should at the same time prepare to drive down the cost of education as students expect to pay much less in tuition and fees for online learning options. “With the economy slumping and unemployment soaring, job-relevant education will also be a must,” Maggioncalda said. National University of Singapore President Tan Eng Chye further pointed out that future education systems should prepare students to be creative lifelong learners. President Tan encouraged students to be able to integrate knowledge and technical skills from multiple disciplines for complex problem solving, and be adaptable and resilient with bigger appetites for risks and a higher tolerance for failures. He also mentioned digital competency, empathy, and social responsibility as virtues that students in the post-coronavirus era should possess. Rebecca Winthrop, Co-Director of the Center for Universal Education at the Brookings Institution, raised concerns over the ever-growing digital disparities caused by the recent shift to online teaching and learning, claiming that insufficient infrastructures for low-income families in developing nations are already causing added educational disparities and provoking the inequity issue around the world. “New approaches to leapfrog inequality and provide quality education equally through faster and more effective means should be studied,” she said. In response to this, Vice President of Microsoft Anthony Salcito introduced the Microsoft Education Transformation Framework, which provides practical advice to develop strategies for digital education transformation with a holistic, long-term view implemented in discrete phases that the global community can begin today. The Framework reportedly shows how emerging technologies, such as artificial intelligence, support new approaches to building efficient and effective physical and digital infrastructure, modernizing teaching and learning, empowering research, and managing student success. The GSI will host two more forums in September and November. (END)
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