Hoskinson envisions blockchain to power AI, healthcare and government technology
Charles Hoskinson, co-founder of the Ethereum blockchain and CEO of Input Output, is targeting South Korea as a hub for the next wave of innovation combining blockchain and artificial intelligence – technologies that he believes can bring immense benefits to both the public and the industry.
During his recent visit to Seoul, Hoskinson met with technology leaders and industry players to explore collaboration opportunities. He welcomed the South Korean government’s plan to establish a 100 trillion won (about $70 billion) fund for AI investment, expressing keen interest in contributing to the country’s ambitious vision.
“Several projects in Korea excite us very much and we see huge potential for blockchain to intersect with them,” Hoskinson said in an interview with the Korea Herald. “There is a tremendous opportunity for blockchain and AI to work together for the benefit of people.”
Hoskinson highlighted that blockchain could be a game-changer for Korea’s manufacturing, supply chain and electronics sectors, enabling greater transparency, efficiency and innovation in key sectors of the economy.
Hoskinson believes that growing geopolitical tensions between China and the United States, in particular, have made supply chains less accessible than before; this is where blockchain can bring transparency and innovation in tracking raw components and diversifying supply chains.
“Samsung, a pioneer, even 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 the isolated Samsung Blockchain Keystore.
“The Korean crypto market is efficient, with around 25 dominant companies, four of which control 90% of the market. This makes a short trip extremely productive,” Hoskinson said, evaluating the Korean market’s blockchain technology for its efficiency and innovation.
“The Korean market is part of a larger Asian ‘family’ with Japan and Singapore, although unique dynamics like Kimchi Premium still exist. Adoption has grown massively and evolving regulations around taxes and digital assets provide greater clarity and consumer protection,” he said, highlighting the Asian ecosystem as a whole.
He praised recent regulatory progress in Korea.
The Virtual Asset User Protection Act, which took effect in July 2024, focuses on user protection and regulatory compliance. However, the law still faces criticism because it leaves significant segments of the industry largely unregulated.
In June 2025, Korea advanced its digital asset regulations by passing the Digital Assets Basic Law. Once fully implemented, industry experts predict that DABA will complement VAUPA and clarify licensing, reserve, and operational requirements for stablecoin issuers and other digital asset businesses, addressing both payment potential and systemic risk concerns.
“This is extraordinary progress. It is encouraging to see that globally – in the United States, Korea and other countries – we have collectively turned a page and returned to innovation in the industry rather than over-regulating it,” he said.
Asked about his vision for blockchain, Hoskinson said blockchain should be presented as faster money, safer money, less fraud, instant global transfer of value and better tools for entrepreneurs.
“Open source and 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 gives governments and businesses a ‘free pass’ to experiment with blockchain solutions for privacy, identity and compliance.”
Hoskinson envisions the convergence of blockchain with artificial intelligence, healthcare and government technology to make a real impact.
“Stablecoins, healthcare and GovTech (government technology) represent big opportunities. Midnight connects privacy with compliance, enabling safe and regulated use of stablecoins. In healthcare, blockchain can protect data, secure clinical trials and improve patient outcomes,” he said.
According to Hoskinson, Korea’s crypto ecosystem is robust and highly structured, bolstered by regulations such as the Act on Reporting and Use of Certain Financial Transaction Information and DABA.
The CFTIA requires foreign virtual asset service providers serving Koreans to report transactions affecting Korea to the Korea Financial Intelligence Unit.
“Korea is a phenomenal market for cryptocurrencies, with more than 15 million holders, or more than 30% of the population,” according to Hoskinson.
“Major players such as Samsung and SK are also leading global AI projects, which could involve millions of users,” he said.
But when asked about accountability in crypto, Hoskinson emphasized a decentralized approach.
“People think, ‘If something goes wrong, I want someone put in jail.’ But decentralized protocols don’t work that way. True accountability comes through compliance, custody standards, and blockchain-based disclosure, not industry centralization.
“Partnerships build trust, trust builds cooperation, and cooperation 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 entrepreneur and mathematician, best known as the co-founder of Ethereum. He currently runs the web3 engineering company Input Output (IO), which developed the Cardano blockchain platform. Born in Hawaii, he studied mathematics at Metropolitan State University in Denver and the University of Colorado at Boulder. Hoskinson began his career in consulting before leaving in 2013 to focus on cryptocurrencies.
sanjaykumar@heraldcorp.com
