Author: Wang Yanhua
Seven South Korean blockchain companies gathered in Singapore on 5 June for a “Jump-Start Meetup”, organised by ICO Platform Pte Ltd together with Korea M&A Center, Hahm Shout, and Jenga K.
Block Asia had previously reported on ICO Platform Pte Ltd, which was started by prominent plastic surgeon Dr Kim Byung Gun to help Korean blockchain companies register in Singapore.
The event drew around 300 attendees.
The South Korean blockchain scene is booming, with their cryptocurrency exchanges Upbit and Bithumb consistently ranking among the top ten, based on 24 hour trading volume data from CoinMarketCap.
Dr Kim told Block Asia, “Singapore is now one of the most important countries to Korea. Trump and Kim are meeting here, after all. This event is a good way for new projects to raise funds, and investors to look for promising Korean ICOs.”
For those who want to pay attention to the happenings in the South Korean blockchain industry but were not at the event, Block Asia has compiled a summary of event highlights.
Who: Global sales director Choi Rak Jae
What: Decentralised economy for Artificial Intelligence (AI)
How: In essence, it provides a platform for the peer-to-peer sharing of three things: GPU, data, and AI models. Choi said, “Too much electricity is used to mine cryptocurrencies. We want to research and develop AI to make more value out of the GPUs.
“For example, we provide GPU power for AI machine learning and deep learning calculation.”
Highlights: The audience had a conversation with Jack Ma in AI robot form that Choi had developed. The robot was pretty lifelike and could answer basic questions It was slightly creepy but quite cool otherwise.
Who: Co-founder and CEO Dr Kim (the plastic surgeon), co-founder and CEO JD Hong
What: The coin that’s developed by ICO Platform Pte Ltd to be used for crowd-funding
How: ICO Platform does a few things at once: 1) crowdfunding for ICOs; 2) selection of promising ICOs by AI deep learning and human experts; and 3) customised support and consulting to corporate clients.
Dr Kim said, “81% of ICOs are scam, and more than half of the rest fail or die. We want to help make ICOs successful and help investors look for the right ICOs to invest in with less risk.”
Highlights: The iCrowd coin can be used at Dr Kim’s BK Plastic Surgery too. You can consider this for your next facelift.
Who: Founder and CEO Hahm Si Won
What: Blockchain-based healthcare big data platform that provides personalised solutions
How: Alphacon aims to give individuals control over their healthcare data and provide them with optimal solutions for illness prevention. Notably, the healthcare data distributed by Alphacon includes genomic analysis and life log, which are specifically for preventive medicine and chronic illnesses. Individuals are compensated with Alphacon Tokens if they agree to share their data with buyers.
Hahm believes that we are entering “the 3rd medical revolution, the age of preventive medicine”.
Highlights: Hahm holds another title: the CEO of Hahm Shout, a prominent marketing company in South Korea. She has worked in public relations and marketing for 20 years, but having studied biology during her undergraduate studies, she told Block Asia, “By entering the medical field, I am fulfilling my childhood dream.”
Who: CEO Shin Young Keun
What: Investment in renewable energy projects
How: General users can invest in eco-friendly projects developed, built and operated by the Seed group.
Highlights: You may know about carbon trading for polluting corporations, but you most probably have not thought about carbon trading for individuals. Seed also plans to develop its own mobile app just for that. Shin told Block Asia, “It’s like a life log. Ordinary people who reduce their carbon footprint can get rewarded when they change their lifestyle habits.”
Who: CEO Kim Sang Dong
What: You know those karaoke mobile apps where you sing to your phone? WeSing coin is something like that.
How: It will be blockchain-based and employ a reward system to incentivise users to upload their videos and interact with each other. For example, when users like or reply to others’ videos, they get some WeSing coins.
Kim said, “More than 200,000 people have downloaded our mobile app. Music companies are centrally controlled, and this escapes from central control and lets users be compensated real time.”
Highlights: WeSing coin is socially mined.
Who: CEO Kim You Joo
What: A game, and also a electronic payment system
How: NiX developed a game called Coin Monster. Think Pokemon Go, but instead of Pidgeys and Rattatas in your living room or in the park, you hunt for cryptocurrencies. Kim said, “It’s not just a game, you get real coins.”
Highlights: Members of the audience downloaded the app and started walking around with their phones in the air, hunting for coins such as Ethereum.
Who: CEO of Korea M&A Center Ryu Suk Ho
What: ICO investment model with investor protection system
How: Esc Lock is launched by Korea M&A Center. Ryu said “There are big risks in the ICO market. Many people are concerned about it. Is the ICO I am investing in a scam?” Esc Lock combines the ESCrow system, which is used in financial markets such as electronic commerce, with ICO and locks investor investments and the cryptocurrency issued by ICO companies for a predetermined period of time.
Highlights: Its first contract has already raised USD 20 million, according to Ryu.