In Korea, a More Varied Blockchain Industry Is Emerging
South Korea until recently was best-known for its ravenous cryptocurrency traders, with exchanges still the most popular businesses. At Beyond Blocks Summit Seoul, Bitsonline went out into the garden to chat with some regular attendees who are also working on blockchain startups. They’re not all focused on trading though — watch three of our interviews below to find out more about what others are doing.
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Beyond Blocks Attendees Describe Korea’s New Blockchain Scene
Jessica Lynn Kim, Plactal – Gaming
Plactal is a Korean-Singaporean blockchain identity platform aimed at gamers — allowing a more portable form of the data they accumulate playing online games. Kim told us social gamers tend to be sidelined in the process of developing new games and concepts, since so much useful data is owned and “locked away” by large game-hosting companies like Facebook.
Not only will users be able to own their own data, she says, but hosting companies would benefit by sharing this information more widely. The reason is, developers and marketers will have access to a much larger data pool, and learn more about what their users want, what keeps them engaged and what makes them quit, and how they’re spending their money.
Korea is the perfect place to develop a project like Plactal, Kim said. It was one of the first countries to embrace virtual currencies for use in games, and is well-known as a gaming center. Plactal also has a token economy based around GEM tokens users can earn, and another aimed at the game companies themselves.
Sam Kim, Lucidity – Advertising
Lucidity is an advertising and marketing analytics platform running on Ethereum’s second layer protocol, Plasma.
Describing it as something that “can fundamentally change the crap that’s in digital advertising today,” Kim says the industry needs a system that can eliminate fraud and build trust for ad creators and advertisers alike.
Lucidity has been meeting with major advertisers across the region and world, and aims to solve inefficiencies in the current system like billing reconciliation and fake data, while providing more accurate statistics on who’s viewing the ads and how they respond to them.
Sean Oh, CoinUs – Wallets
CoinUs is a mobile wallet designed for multiple-token use, but aimed at users who want to join in ICOs. Founder and CEO Oh has worked for Merrill Lynch and Goldman Sachs, and said he decided to add to the already-crowded wallet field after finding other options not satisfying enough.
The wallet is designed to be easy to use for both experienced hodlers and crypto newcomers — “for mom to use,” as Oh puts it. Since this is Korea, it’s possible those moms will also develop a taste for ERC20 tokens and ICOs before too long.
Since CoinUs is aimed mainly at the local Korean market for now, Oh also talked to us about the Korean blockchain/cryptocurrency scene in general. Adding that he was impressed by the international variety at Beyond Blocks Summit Seoul, he said usage would take off so long as regulation remains permissive.
Watch the three interviews above to hear more about what’s going on.
How much do you know about the Korean blockchain industry? Share your thoughts and experiences in the comments.
Images and video via Jon Southurst, Bitsonline