[Project Speech] Kunihiro Katsuragi IFA, COO at KBW2019

peace [Music] hi everyone good evening I'm Connie from IFA way based in Japan Tokyo so we come here you know from Japan obviously and thank you for the introduction as he said with engaging in the next generation bank system but it's not the bank itself it's very misleading I'm sorry we do is data bank and I'll explain it to you later but before we start they allow me to introduce myself and for me personally I'm not from the technology industry I'm not from business side I was always doing the volunteer as you can see and I was very focusing on well-being of the people and how can I you know help everyone and of course I was engaging very hard but I realized it's not enough it's not enough to do something by myself just one person and the infrastructure you know we have is based on capitalism so it's never be able to you know truly help someone because if you want to use services you need to pay the fee in transaction fee whatever so I thought once the asset everyone has everyone has information if you say you don't have money it's also want information and currently people are talking about the information is gonna be the next generation asset but there's no platform to utilize it to monetize your information in yourself because it's gonna be gonna disrupting thing for the existing companies and how we do is as I say a databank so of course almost everyone using the data as our bank accounts and you know bank if you put money on to it you can get interest out of it and that's very simple concept and you can see exactly the same thing with your data so you put your data onto a platform and then you know the third-party companies when they use it and we make profit like existing digital marketing companies but what we do is we provide those profit that we make on to the end-users so basically you can monetize with your own data so as I said this is a very simple concept of the bank how it works as you know and this is the data bank which we propose so you put your money so data onto the taste Bank and of course in return you get reward but the new thing is every time we use your data on behalf of you on behalf of your trust we make profit and that's a very simple and then we give up the data also a profit that we make to the end-users as I said and so maybe you're wondering how are you gonna make profit that's when crypto and blockchain comes in because nowadays in capitalism of course I'm not I'm not saying capitalizing is bad don't get me wrong but I if we use script so of course we're gonna be the issue and we can we can provide those profits because we gonna issue or token and every single entity that join us platform they need to hold our token so the more entity comes in the higher price goes up that's very simple and that's a the new model of the business side and that's why I was very you know focusing on the volunteering and not on the business side but with the clip so I realized maybe I can achieve my goal maybe I can achieve my dream of the well-being or the truth well being up for the end-users and not only for the end users databank as you can see let's first start up local governments other industries for comes called who wants to go to the new industries and currently we are talking with the local government in Japan I can't discuss where it is yet but those people are suffering because they don't have enough information they don't have enough data to analyze how to do HR people from outside and people this for it to do something new but new doesn't mean good all the time so what we want to create with them is a smart city and I'll explain you the tid so the idea of course people are talking about nowadays you know how to you know you can use the idea with a platform bla bla bla but the most important thing is to connect Riyadh you know offline online and as I mentioned the data bank you know if if you put your data and you can get money so you might be thinking yeah maybe we can lie to you guys yeah of course maybe but so that's why we need di D this authenticity of the data is the key of the trust of our data bank so if you put your data on our platform and that's gonna be a chance transfer to the di D and every time if you want to use di z to the you know reservation of the restaurant or go to the hospital if it lights us you can't get the services that you want so of course we're not gonna force end-users to be honest it's impossible but with the local government we are talking to once we have the connection between online and offline and people trying to use di D the Real ID identity and then if you want to use it you need to be honest with it with otherwise it can't get the services that you want so the G ID is merely the interface for us your interface for you to put your data on to it and how to control your data and of course we don't want to use data as long as you say no of course not because it's against the ethical problem we have nowadays so every time you say yes you can get reward and then if you don't want us to use your data anymore very simple you can just swipe right or swipe left whatever and then so that's why I said we would like to be the bridge of the online and offline as a data bank and lastly credit scoring it's not the very main focus for us but look at that data currently those people high score as you can see it's credible so what other financial institution is doing it's just visualize those people who already being credible and they're just visualizing it so that's why there's a few very tiny market for it especially in Japan and those people who actually need is that those people on the red nuclear scoring criteria yeah it's easy to say but how so we get we get the hint from the Thailand Thai farmers they don't have bank accounts but they need money they need funds to expand their businesses and what they do is based on how many crops that they make annually and so those are tiny informations are very essential nowadays people get you know doing the credit scoring based on the SNS followers but that's not enough because it as I said before you can lie to us so if everything connects it with online and offline the credit scoring it's very valuable and no I'm not talking only about the financial institutions also I'm talking about HR of course you know if you are you know looking for a new job and of course you can say yeah I can do this and do this and do this but we we don't know you and how we can trust the recommendations from other people and how can how can we trust other people to go on and go on so as so once we establish the new criteria of the credit scoring it's gonna be much easier to use credit scoring databases and the credit scoring won't determine your life like existing credit scoring as once you said once you've been said no then it's really hard to bounce back from the status that you end so that's some three things that we are currently aching engaging in and crypto for me induction also a merely a tool to achieve the goal to achieve the vision I have and I'm so young so people might say yeah you're too young but I'm I'm sure I'm believe that the crypto and blockchain enables us to make new business model as I said we don't have to make profit and we don't have to ultimately what I want to do with this IRA is we don't have to exist as a company anymore because company has a risk to bankrupt and of course as a company we need to make profit but we can cover it with token issue so you know as I said we're gonna be the data bank we're gonna do the TIG we're going to the credit scoring but what if we bankrupt I can't promise you that looking at you know all those history you know how big it is mata we might bankrupt at some point so we need to have sustainable ecosystem sustainable business model that people I mean end users don't need us as an intermediary and that's what I want to achieve with our and I'm pretty sure we can it's the world is moving towards their identity idea and idea what is going to be like that and of course we have we are Japanese company and we're based in Tokyo and I think you their future Panisse people outside Japan because we we can't speak English that much and we don't we are very isolated to be honest you know when it comes in crypto and blockchain industry and you know thanks to this you know conference I get to talk to a lot of people from outside Japan and people very eager to know Japanese market regulation and everything and so that's why we've decided to you know do the incubation ourselves an incubation doesn't mean help people you know like a technology wise or a fun race wise but also the education and education I mean the philosophy how to make what sustainable and how to make that was much better than we think and of course environment one as well and all those ingredients to make what better we we can't be just just one project also we need to have a community we need to have incubation we need to have the supporters we need to have the partnerships are over outside of Japan and hopefully after this presentation you'll be interested in us and we have the booth up there so if you're interesting us please come talk to me and thank you for patient [Music]