Block chain company Blocko is challenging to be listed on the KOSDAQ this year after 9 years of establishment. If it succeeds in IPO (initial public offering) in 2023, it will be the first case among domestic blockchain companies, overtaking Dunamu, the leading blockchain company in Korea.
Kim Jong-hwan, CEO of Blocko, met with Paxnet News on the 5th and said, “There are still infinite things that can be converted into blockchain, such as tokens based on real assets such as real estate and tokens with a function to store music copyrights.” In the process of financial companies trying to enter the market, we play a role in contemplating ‘what will be the next blockchain meta (trend)’” he said.
Blocko is a blockchain technology company founded in 2014. It was established by the meeting between CEO Kim Jong-hwan, the current CEO, and AERGO CEO Won-beom Kim. Its main business is Managed Service Provider (MSP). Its main business is to advise and apply blockchain for blockchain enterprise customers.
The initial product, Argo, a blockchain platform, was created for the ‘commercialization of blockchain by companies’. The goal was to alleviate the difficulties that companies face when linking public blockchains such as Ethereum and Hyperledger Fabric with their data.
Currently, in order for companies to introduce a blockchain ecosystem, not only the blockchain but also a data management system is required. However, it takes a considerable amount of time and money to link its own data and blockchain data. Even for this reason, there are cases where the introduction of the blockchain ecosystem is abandoned.
Most companies and developers manage data with SQL. SQL is a programming language for building databases. Companies often fail to introduce a blockchain system because of the problem of linking their SQL-based data with the blockchain platform.
Argo is the world’s first to support a SQL-based smart contract engine, reducing the effort involved in introducing a blockchain platform. It is possible to access existing data only with Argo’s SQL function without modifying the database for blockchain grafting.
Jaehyuk Shin, Executive Vice President of Blocko, said, “Argo gave the answer to the question that a company must have some kind of technology to conduct a blockchain business. chosen,” he explained.
Based on these advantages, domestic large companies such as Samsung SDS and Hyundai Motors have been carried out in Korea. In addition, projects with public institutions such as the Korea Exchange, the Federation of Banks and the Ministry of Land, Infrastructure and Transport were completed.
With the most commercialization cases in Korea and a solid technology base, Blocko started preparing for an IPO this year after 9 years of business start. Last year, it received an A grade in the simulation technology evaluation for the KOSDAQ special listing. Argo’s technological prowess also contributed greatly to this.
This year, as the NFT trend gained strength, the NFT issuance and distribution platform ‘CCCV’ of the affiliate Blocko XYZ also received a lot of attention. In 2018, Blocko already introduced the assetization service of ‘digital contents’, ‘Gatchu’, and this vision is also incorporated in CCCV.
The next blockchain trend that Blocko sees is STO (Security Token Disclosure). The token issuance service ‘ GEMpay ‘, scheduled to be launched in the second quarter of this year , is being developed based on this prospect. Gempay is a kind of STO platform that enables companies to easily issue and distribute real asset-based tokens.
Within the platform, the Aergo-based token ‘Aergo Gem’ serves as a kind of key currency. Here, companies can issue their ‘miles’ and ‘points’ as Argo-based tokens. For example, it has a structure similar to ‘Dodo Point’, which manages the points of several coffee shops with one app.
Can Blocko, which is always one step ahead in the domestic block chain market, succeed in IPO for the first time among domestic block chain companies by overtaking Dunamu?
CEO Kim is confident that “it is possible”.
CEO Kim said, “It is the fate of startups to always think ahead and never stop taking on challenges compared to large companies that are slow.” He said, “Blockchain, like the Internet, can grow rapidly regardless of manpower and cost, and the key is who dominates the industry. Naver has also experienced this kind of growth,” he said.
https://paxnetnews.com/articles/85510
