Simplex founder Nimrod Lehavi has decided to join Bloom Technology, a South Korean tech firm operating Locus Chain, as an advisor. Photo courtesy of Bloom Technology

Locus Chain maker draws global blockchain dignitaries

Simplex founder Nimrod Lehavi has decided to join Bloom Technology, a South Korean tech company operating Locus Chain, as an advisor, according to the firm during the Blockchain Week in Busan on Oct. 29.

Lehavi said that he had decided to work for Locus Chain because the solution is a fundamental layer-one blockchain among other various projects underway across the world.

“I think the amazing track record of the team and them being so modest about it is a rare combination, even more so in crypto,” Lehavi said.

“It (Locus Chain) is a blockchain that holds a considerable amount of technical skills and has complete decentralization and scalability at the same time.”

Bloom Technology has claimed that its Locus Chain was one of the world’s fastest blockchain technologies, which solved the scalability problem of late transaction speed.

Israel-based Simplex has headed the cryptocurrency industry in the services of enabling the connection between cryptocurrency and traditional financial sectors.

Earlier this year, Cadence Design Systems, a U.S. semiconductor design software maker, agreed to acquire Simplex for $300 million in stock.

Asked about South Korea’s potential to gain prominence in the global blockchain industry, Lehavi came up with a positive response. The country’s Busan City has strived to become a blockchain hub by attracting many corporations both at home and abroad.

“(Busan City’s plan) makes a lot of sense. Since China took over the regulation in Hong Kong crypto companies and people don’t feel safe there, Busan can fill that void,” Lehavi said.

He also said that major cryptocurrency exchanges might move to Busan as “Hong Kong is problematic, and Singapore is problematic. If regulators in Korea open up and allow it, I think it’s a phenomenal opportunity.”