Hoskinson envisions blockchain technology powering artificial intelligence, healthcare, and government technology
Charles Hoskinson, co-founder of the Ethereum blockchain and CEO of Input Output, has his sights set on South Korea as a hub for the next wave of innovation that combines blockchain and artificial intelligence – technologies he believes could bring massive benefits to both the public and industry.
During his recent visit to Seoul, Hoskinson met with technology leaders and industry stakeholders to explore collaboration opportunities. He praised the South Korean government’s plan to establish a 100 trillion won (about $70 billion) fund to invest in artificial intelligence, expressing his strong interest in contributing to the country’s ambitious vision.
“Several projects in Korea are of great interest to us, and we see huge potential for blockchain to intersect with them,” Hoskinson said in an interview with the Korea Herald. “There is a huge opportunity for blockchain and AI to work together to benefit people.”
Hoskinson stressed that blockchain technology could be a game-changer for Korea’s manufacturing, supply chain and electronics industries – leading to greater transparency, efficiency and innovation across key sectors of the economy.
Hoskinson believes that rising geopolitical tensions between China and the US, in particular, have made supply chains less accessible than before; This is where blockchain can provide transparency and innovation in tracking raw ingredients and diversifying supply chains.
“Samsung, the leader, ships every Galaxy phone with a Knox-based blockchain wallet,” he said.
Samsung introduced a cryptocurrency wallet with the Galaxy S10 in 2019, supporting major tokens like Bitcoin and Ethereum. The wallet is secured by Samsung’s Knox platform, with private keys stored in an isolated Samsung Blockchain Keystore.
Assessing blockchain technology in the Korean market in terms of efficiency and innovation, Hoskinson said: “The cryptocurrency market in Korea is efficient in navigating, with about 25 dominant companies – four of which control 90 percent of the market. This makes the short journey very fruitful.”
“The Korean market is part of a larger Asian ‘family’ with Japan and Singapore, although unique dynamics such as ‘Kimchi Premium’ still exist. Adoption has grown significantly, and evolving regulation around taxation and digital assets provides greater clarity and consumer protection,” he said, referring to the broader Asian ecosystem.
He praised Korea’s recent regulatory progress.
The Virtual Assets User Protection Act, which came into effect in July 2024, emphasizes user protection and regulatory compliance. However, the law remains criticized for leaving large sectors of the industry largely unregulated.
In June 2025, Korea developed its own digital asset regulations by passing the Digital Asset Basic Law. Once fully implemented, industry experts expect that DABA will complement VAUPA and clarify licensing, reserve and operational requirements for stablecoin issuers and other digital asset companies, addressing both payment capabilities and systemic risk concerns.
“This is extraordinary progress,” he said. “It is encouraging to see that globally – in the US, Korea and other countries – we have collectively turned the page and returned to innovating the industry rather than over-regulating it.”
When asked about his vision for blockchain technology, Hoskinson said blockchain technology should be framed as faster money, safer money, less fraud, instant global transfer of value, and better tools for entrepreneurs.
“Open source decentralized systems prevent monopolies, protect privacy and give consumers ownership of their data,” he said, describing his latest project, Midnight, as a transformative platform for blockchain consumption.
“Midnight focuses on consumption rather than ownership. Korean partners can rent services without holding tokens. This provides governments and companies with a ‘free pass’ to experiment with blockchain solutions in privacy, identity and compliance.”
Hoskinson envisions blockchain converging with artificial intelligence, healthcare, and government technology to make a real-world impact.
“Stablecoins, healthcare and GovTech (government technology) are big opportunities. Midnight links privacy and compliance, enabling secure and regulated use of stablecoins. In healthcare, blockchain can protect data, secure clinical trials and improve patient outcomes.”
According to Hoskinson, the cryptocurrency ecosystem in Korea is very strong and regulated, and is strengthened by regulations such as the Reporting and Use of Certain Financial Transaction Information Act and DABA.
The CFTIA requires foreign virtual asset service providers serving Koreans to report transactions affecting Korea to the Korean Financial Intelligence Unit.
“Korea is an exceptional market for cryptocurrencies, with over 15 million holders – more than 30 percent of the population,” says Hoskinson.
“Major players such as Samsung and SK are also leading global projects in the field of artificial intelligence, which can engage millions of users,” he said.
But when Hoskinson was asked about accountability in the cryptocurrency space, he emphasized a decentralized approach.
“People think: If something goes wrong, I want someone to be put in prison.” But decentralized protocols don’t work that way. Real accountability comes through compliance, custody standards, and blockchain-based disclosure – not through industry centralization.”
“Partnerships build trust, trust builds collaboration, and collaboration leads to innovation and real solutions. Blockchain should be the invisible layer of trust for economic, political and social systems,” he said.
Hoskinson is an American businessman and mathematician, best known as the co-founder of Ethereum. He currently leads the blockchain engineering firm Input Output (IO), which developed the Cardano blockchain platform. Born in Hawaii, he studied mathematics at Metropolitan State University of Denver and the University of Colorado Boulder. Hoskinson began his career in consulting before leaving in 2013 to pursue work in cryptocurrency.
