Beyond Blocks Seoul Summit 2018

Beyond Blocks Seoul Summit is a very energetic Blockchain event. Here is a wrap of my live tweets couple of weeks ago.

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South Korea is known for 3 things, Kimchi, K-Pop and Crypto-currency.

Follow the footsteps of – Integrate with eCommerce platform, Offer discount to grow adoption, Add credit, landing layer on top, Transform to FinTech.

Tink Labs from Hong Kong introduced their new platform – Passport, by spending 90% of the time talked about Handy … but one thing is true – travellers have no problem in “currency conversion”.

Michael Novogratz of Galaxy Digital Capital Management : Crypto industry is moving / growing fast in Asian countries, because … Asians love gaming / gambling, matter-of-factly.

Use Hybrid blockchains with layered architecture, sharding and rPoS to scale the system.

How can we tell an ICO is a success ? The product, the users / community, the team, the ecosystem … but not the cool whitepaper and price of the token.

Blockchain or not, Payment system or not, any new system needs to deliver good UX and features that the users don’t need to trade off any utility.

“Are you ready to disrupt the others, with Blockchain ?”, Jason Han, CEO, Ground X (Kakao)

Finally, a talk about Enterprise-level Blockchain platform, by Jason Han, which is exactly what we are doing for the past 12 months. Great stuff

Another down-to-earth talk, by Jon Choi, about Blockchain ecosystem – Blockchain is not all about Exchange, Protocol and ICO; but a lot of non-tech things to do as well.

A jump from theory to technical focus talk, JH Kim of ICON explains how they solve the BFT problem.

It’s not only about delivering a technical sound solution, but also how to compete with end users’ laziness.

Media, layman, “outsiders” always link hacks / insecurity to Blockchain and they don’t care about technical details.

#Beyondblocks #bbseoul2018

FAQ of a Business Blockchain Project

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Since the launch of our first Blockchain project in May 2018 (https://www.youtube.com/watch?v=EuUEBv12iBo), there are many people asked me the same set of questions again and again. So, I reckon maybe it’s good to sum it up all here.

First of all, “Why Blockchain ?”

My usual answer is, you know, “Why not Blockchain ?”. It’s not about whether Blockchain is the best technology on earth (as it’s not) or Blockchain can solve all sorts of business problems or not (as it can’t), but more about why not try a new technology to address an existing business pain point ?

What’s stopping you ? Is it because you have fear of failure ?

Solving a problem is hard enough, it gets much harder if you’ve decided beforehand that it can’t be done. Quite simply, there are many use cases, can be done by Blockchain technology.

“Why not the existing technology ?”

Reasons being …. Smart Contract, real time settlement / reconciliation and gamification.

These are either hard to develop in existing technology or take a long time to retool the current systems.

“What are the technical challenges ?”

It’s a very good question, as it is exactly one of the reasons you need to pick a project to try. Granted, many startups claimed they use Blockchain (or AI, Big Data, Chatbot, IOT etc.) to build their solutions, as it is the biggest buzzword for the moment. However, to an established corporation, there are other considerations before selecting a technical solution:

  1. How can we operationalise the new technical solution ?
  2. Do we know what kind of talent we need to develop the new technical solution ?
  3. What kind of infrastructure we need to deliver good performance ?
  4. What are the best practices to design, develop, test and implement the new solution ?
  5. How much is the development and operating cost ?

We cannot really solve a problem by keep talking. Just do it. Learn and improve the solution along the way.

“Why this use case ?”

Developing a good product is hard, but developing a good MVP is even harder. There are many different processes, use cases in every business. We picked one that is relatively easy to implement and yet provide good value to our stakeholders.

“Pick battles big enough to matter, small enough to win.” – Jonathan Kozol

We are not alone though, check this out from American Express … https://www.coindesk.com/american-express-upgrades-rewards-program-hyperledger-blockchain/

“How Big is the Team ?”

Check this out, it’s more or less the same. YMMV.

https://blockchaintrainingalliance.com/blogs/news/10-faces-of-blockchain

“Any lessons learnt ?”

Do not innovate for the sake of innovation. First you need to know what you want to solve.

Ignore the naysayers and develop your own solution. You can learn from your own success, you can learn more from your own failures, but you can learn nothing from your own procrastination.