[Enterprise Speech] Luniverse Baas - How to apply blockchain overcoming existing challenges

[Music] Follow Beom Where CJ Mal Korea 4 Light's Hyun Bar Today Eyewear Make Presentation in Korea Ang A Man Birdman Giss If You From Above Apple SU Stance Laire Hello, this is Park Ji-won, the representative of Seolam Dial. There are quite a lot of people here even at this late hour. For your reference, since there are some visitors from abroad, you may be familiar with Lambda Ear Ryu Geun Shop, but it is a self-developing blockchain company that operates Update and is one of the few domestic Fintech unicorn companies. Regarding the topic I will explain today, you have likely heard a lot earlier about the very future of blockchain M5 or rather its bright future. However, I would like to explain the various problems currently faced when using blockchain technology to actually create such a rosy vision, how Lambda is solving these problems, and how we are carrying out our work.

First, since we only have time for issues, I will briefly explain the training. First of all, as everyone has mentioned, it is true that the market is growing significantly. If we investigate, in 2018 The number of benefits, which was merely about 70 in January, increased by over 1,004 times by December 31st. If we convert this into transaction volume, the volume grew from around 15 billion to 16.7 trillion, an increase of over 400 times.

If we exclude the ZX Tax Ball from this, the actual transactions used on the tab amount to a scale of about 4 trillion won. You can consider this amount as the initial marketplace market of the App Store, even before studying. Looking at the cycle in the comments regarding the release of related Z apps, the overall black lines represent the polarity of the accumulated tabs. In contrast, the purple represents released games. The point of this data is that games or gambling account for about 16% of the total DApp market, leading the market.

However, when viewing this data, I see that there is a negative perception rather than a positive one. This is because, as you can see, around March 2008, there was an explosive release of DApp games under the government, but then gradually... Since prices have dropped, the reality is that game DApps are n't really emerging. If we look at whether there are many special features being published on DApp services or similar items that could lead the future of blockchain, I honestly still can't be certain. In the B2C sector, they issue tokens in front of cryptocurrencies to create ICs or manage operations by listing tokens on exchanges.

Then, there is the B2B sector within the industry. We actually monitor the BTV market conditions closely. Looking at trends in this B2B market—although we don't trust IDC data 100%—if we refer to RCD IDC data, the budgets companies are spending on blockchain projects are increasing by over 60% every year. Could you please re-upload the Industry 5 9 data? This isn't my mistake.

So, to briefly touch on the word "sol," regarding the inner nature of one who does not have faith, holding a mobile phone to dream about it, and on that mobile phone, blockchain-based games or service applications built with blockchain, etc. Is there anyone who finds it easy to install? In 1 minute, 2 minutes, 3 minutes, 4 minutes, or 5 minutes, perhaps about 1-2% of the total are using an Android phone, specifically a Samsung Fun? Since Samsung phones are used quite a lot in Korea, among those using Samsung Fun, are there any people using Samsung's Key Store application for activation? I think there are 1, 2, or 3 people.

Actually, I think I can say that this is currently the whole picture of the blockchain industry. However, regarding the various reasons for creating this, one of the trends we are observing in the market is that patterns of companies forming consortia to conduct business are becoming very active within B2B marketplaces. As you can see right there, 35% are already forming consortia to conduct business, and excluding the 10% who say they will form a consortium and acquire within a year, most companies are now expanding using blockchain compared to themselves. Representative examples include Libra, or my... today There are projects like the Trap All Alliance Milk run by Yanolja, which you have likely heard about.

These are large projects that we are currently working on together at Looni Bus, and they can be seen as trends. However, regarding 3rd generation blockchain, or B2B, if you want to use blockchain in B2B or E-Aerial, there have been many rosy stories about blockchain, Modify, and Sci. But to do that, you need to use blockchain technology to create what you want and develop it. It is true that there are many hurdles in that regard, and the reality is that we are unable to create high-quality services because of these hurdles. I will explain what these problems are and how Looni Bus is solving them.

First, if you try to use the current blockchain, starting with Modify and various other things, the first reason we need to solve these problems is that, from an end-user's perspective, things like privacy management or the UX/UI are actually quite poor. Since the usability is fundamentally lower than existing apps, the basic barrier to using this app is very high, making it very difficult. For reference, my current Although this is a recurring topic, the reality is that there are many repetitive issues involved whenever you want to play a game—such as installing a blockchain wallet, paying transaction taxes to buy tokens, and signing up. Consequently, the moment a user starts using a blockchain service, there are actually many pain points. Secondly, developers need to develop, but from a developer's perspective, current blockchain performance issues and development environment problems are extremely difficult.

While development environments have advanced significantly, allowing developers to work easily using GUI tools and builders, developing something on a blockchain actually forces you to perform only necessary or cumbersome tasks. As a result, those looking to start a blockchain business— business decision makers— need to hire blockchain developers for a project. However, if you look into developers, they typically receive an annual salary of around $470,000. That amounts to about 200 million won per person. This means forming a team of two or three people to work from home, doing low- level tasks like building infrastructure, and so on.

If you set it up, you have to invest over 1 billion won to create an environment where you can test the project's P-Woosilha word. So, actually, even though we said we would give it a try, it was difficult because recovery wouldn't happen. There were these problems, but regarding Rune Reverse—as you may know, perhaps you were interested in it— through the easel and Arm Diary, as society became active in May of this year, we have continuously resolved the hurdles I explained earlier. The chain itself is based on a certain level, and token services can be easily developed through a UI builder. It automates the user's key management system and provides a security feature that makes things like SKT Smart Control very safe.

We launched the commercial version of this Reverse in May. Furthermore, regarding the case you might have heard about at the UDC event last month—I'm not sure if I can contribute— to expand the service built on this base, we have created a service called 'Drops' to satisfy the requirements for a DApp service and are currently working on it. What the service within Drops is is, to use Devil... As mentioned earlier, there are various cumbersome tasks such as installing a wallet and going to an exchange to buy tokens. However, we are creating an environment where not only existing users but also transaction tax users can directly use withdrawal functions through integration features directly on the control panel.

Furthermore, going a step further, we are providing channeling functions that allow general applications to easily find and use web services. Through these channels, we are facilitating tasks that users can easily perform in updates, transactions, and other general services. Next, regarding enterprise apps, using blockchain in an enterprise environment typically requires stricter features and performance than Bitcoin. To provide these, we have recently been offering the Hyperledger service, as well as the Vault service, which provides files in partnership with Keyeast. For reference, regarding the Vault service, you likely heard about the collaboration with Samsung Electronics' Keyeast at this conference; Samsung Electronics will provide features that allow you to store keystores on hardware.

To clarify, what this means is that in a mobile environment, if you lose your phone, you have effectively lost the keystore files as well. In such cases, you A problem arises where you lose all the L-S-s you possess. While the manufacturer will not technically take responsibility, in such cases, "Vaults" provide functions such as extracting the keystore, digging, and listing. Finally, we have developed features while solving our past issues that allow business owners forming consortia to build trust relationships with various partners, enabling them to conduct business with confidence. To briefly explain the customers who have used our service since May, over 500 companies are currently using it.

Among them, about 50 companies have contacted us, and there are approximately 50 users making payments. So, you can consider our company to be one of the few that actually earns money through our services without raising funds through blockchain token listings on exchanges. Of those, five include Yanolja—the consortium for the Yanolja service we mentioned earlier regarding Terra—and Chong Kun Dang, the oldest pharmaceutical company in Korea. Actually, I am working on about five projects like this together. I do n't have much time, so I will briefly skip over the details regarding my clients.

So, as I explained earlier, we created this platform with the goal of solving those problems. Now, I will explain just a few cases regarding how clients are actually using Universe. We can broadly categorize these cases into about three types. The first is the development environment. To resolve issues arising from the uncertainty of development environments or roadmaps provided by public chains like Ethereum, Steem, or EOS, they purchased Looniverse.

The first client is one of our clients named Hunt. Hunt is probably ranked around 7th among existing app services; it is actually quite well-known globally. This is because it is a quick service. It operates on a token economy-based system where you receive rewards for introducing new technologies or Gitan technologies, and [prepare] objections in advance. However, in this community, they developed services on top of ST.

But the Steem platform itself is very stable, and developing a table... Because things were n't working out, we faced significant difficulties. Since the platform itself was unstable and unable to operate stably, even issuing 5 tokens made listing them very difficult, and we had many such issues. To resolve these problems, we decided to use Universe. We are continuously working on using Reverse to create new tokens and transitioning existing Steem services to Reverse.

We are working with a plan to convert all existing and new services to Looney But by next February. As I mentioned earlier, we used Reverse in this case to develop the platform stably and conduct business. Secondly, regarding usability improvement and building a Business Model (BM), Reverse offers much better opportunities than existing methods. For example, you may have heard about the Step coin at the Fintech 3 conference recently; we are currently developing a Step coin padded with the Rupiah in collaboration with a company, similar to Indonesia's IDR. I will explain that case study.

First, as you are likely aware, Indonesia is the world's fourth largest... It is actually a company with a significant market size. However, regarding business, there are a lot of young people, and they are all highly connected to mobile environments. Therefore, you can see that they are very familiar with messengers and mobile payments. In fact, looking at the business, there are far more business opportunities than in Korea, and legal restrictions are also much more flexible.

So, starting with Molibra, many blockchain companies are using Indonesia as a testbed. Among them, there is a situation where about 65% of the population does not have access to banking benefits. To solve this problem, a company called ID RT created a Rupiah stablecoin packed with Rupiah for the 65% of users who could not use institutional banking services. You can think of this as exactly like our local currency. The first step in the creation process was [the] The Rium.

So, they developed a service that issues the corresponding stablecoin if you feel uneasy about the Rupiah [currency]. Looking at how it operates on a seven-tiered basis, the user [plays] QR When establishing a connection with the bank, the bank verifies the amount involved in the bank's map and provides an equal amount of Rupiah Step coins. We created a service that allows for various uses, whether it involves a "maker" or achieving success internally in Indonesia. However, as we encountered actual difficulties while using it, we reached the first issue regarding performance. For instance, when making a donation, the confirmation time is long, requiring us to wait tens of seconds.

Consequently, making donations becomes extremely difficult. Second, there are various difficulties, such as gas fees; users face issues like the "burning of tax money" mentioned earlier whenever they make a donation. Third, upon success, users want privacy protection regarding their success history. They do not want to disclose to everyone who they donated to. Fourth, above all else, since we are conducting this business, it is difficult.

As we pay costs such as gas fees while using this chain, the entity operating this business— ID RT—needs to create a revenue model to become It was difficult. So, in addition to the existing low-cost chain, we issued Step coins on top of Looney. Unlike table coins, there are no gas issues. Therefore, we created a BM that can manage remittance costs independently by converting donation costs into BM without actual gas diggers. We are now conducting businesses efficiently with performance exceeding 2nd-tier TPS.

We have also started using reverse. Using Step and Kuhn, we are expanding businesses every two weeks, such as using it as the basic currency for Pi—as you heard in the previous session—after identifying various Ds like supply, poet, servant, or insurance. In the third casting, you mentioned a lot again that blockchain is a trust machine, right? If you look at the previous speakers, they talk a lot about trust. Now, returning to actual business, what is the best place to gather that trust?

From the perspective of companies, the most effective way to conduct business is to create a trustworthy relationship between companies that cannot trust each other through a system. It is a wise approach. That is why many clients have requested business cases involving the formation of consortia through collaborative relationships that have lacked trust. Among them, you are likely familiar with Chong Kun Dang, as it is the oldest pharmaceutical company in Korea. When Chong Kun Dang used this, the problem was that they tried to leverage their existing RT program efficiently.

However, from a user's perspective, existing web programs require consideration; the intended use case must align with the intended purpose. In reality, the actual use of the points themselves is very limited. Secondly, since the programs are fragmented, it is very difficult for the general public to integrate and use them. From Disney's perspective, even excluding the points, integrating the dot systems of their affiliated companies is difficult. And above all, it is difficult to establish a trust relationship between our company and the other party.

This is because it is very difficult to reach a consensus on issues like "I think you are cheaper than me" or "I think you are more expensive than me." Therefore, to solve these business problems, we decided to use a blockchain company. We are currently conducting business by creating consortia where companies cannot trust the existing ones, and using smart controls to build a system where prices are automatically determined at churches with zero demand based on points generated by these consortium companies. Furthermore, we acquire customer data to conduct business. For example, if a 38-year-old user with two children visits a funeral hall and purchases nutritional supplements, they would likely earn points.

They could then use these points at a fitness center within the consortium, or use the points earned there for things like health checkups or purchasing health-related items as gifts. Ultimately, we are conducting business by enabling these systems to allow users to experience the "4P" (Personal Values) among the consortium members and emphasize business trust. The actual advantage is, of course, that as the consortium grows, its network power increases significantly, creating very positive effects. We are now able to see this case as an example of continuing business using blockchain. The business we have created is not actually an inherently ideal concept, but rather a project that is continuously being developed in reality.

However, I believe there is one final issue remaining in our business. This is because the blockchain itself is currently too fragmented, and it is not yet mature. To begin with, what I mean is that development must be very easy to use and productive. Blockchain is a technology, after all. If you think about it grandly, it is a tool that can change the world.

To change the world using that tool, it must be very productive. It needs to be mature technology, and instead of being fragmented, standards need to be established. However, we are currently in a situation where there are no standards. Consequently, as seen in many places like Wook-ssu, they create it themselves and say, "Oh, it's good," but because they are actually built using different methods and different data sources, from the perspective of creating services, it is actually very difficult to use each individual chain. Our main point of view is that unless this issue is resolved, blockchain cannot become mainstream or create an environment where it can be used productively.

Therefore, regarding the next version, we are focusing on providing an environment where you can develop and operate blockchain services without difficulty, regardless of which chain you use, provided we develop a standardized method. This means you can develop and operate blockchain services without any restrictions, regardless of which chain you use. We are currently proceeding with this focus. To summarize what I have explained in the short 20 minutes or so: it is true that blockchain itself offers a great deal of potential and opportunities. However, due to the various hurdles, immaturity issues, and fragmentation inherent in current blockchain technology, it is true that there are many obstacles for those trying to develop web services using the registration system or apply it to business.

If you cannot overcome those hurdles, creating an ideal industry and turning the world upside down—as many speakers have mentioned earlier—can actually be very difficult. That is what I believe. I am thinking that the way to solve this is to take a more objective approach, standardize technologies, and create an environment where memories can be used easily and comfortably. In that regard, I intend to create and consistently provide an environment where general users and developers can easily use blockchain by integrating it into cloud services, much like Amazon Cloud. I watched the presentation carefully, so although it is difficult to cover everything, I will explain more through a different route.

Thank you for listening until the end. Thank you. [Music]