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After graduating from law school, CEO Kim Jong-hwan established ‘Blocko’, a specialized blockchain company…
MSP, which helps to optimize the adoption and optimization of block chains like the ‘first generation of domestic startups’ , is the center…
Blockchain feels responsible for the title of ‘infrastructure’ or ‘No. 1’… We will prepare for listing so that there is no misunderstanding about the industry.”
Reporter Shin Tae-hyun holjjak@06r5359632
When the smartphone first appeared, the public regarded it as a ‘fashionable’ accessory to maintain dignity. Gradually, as they cheered on the intrinsic functions of smartphones, they left the old phones behind and became a necessity of life. If you ask ‘Why are you using a blockchain?’ right now, you may come up with the word ‘because of its cool’. But what kind of digital asset market will unfold in 1 year, 2 years, 3 years? Perhaps blockchain will grow into everyday life infrastructure like smartphones.
Kim Jong-hwan, CEO of Blocko, who met with E2day at his office located in Bundang-gu, Seongnam-si on the 12th, said, “Blocko is a company that can help companies easily adopt blockchain as a DX (digital transformation) infrastructure.”
◇ ‘Blockchain MSP’ led by the first generation = CEO Jong-Hwan Kim is the first generation of ‘Bitcoin and Blockchain Startup’ in Korea with a unique history. In 2011, when I was a law student, I was introduced to Bitcoin for the first time through my middle school classmate, Kim Won-beom, who is currently the co-representative of Blocko. In 2014, about a year later, he founded Blocko, a blockchain specialized company in Korea, where even the concept of blockchain was unfamiliar.
As a company led by the ‘first generation’, Blocko is growing its presence as a representative ‘blockchain MSP (managed service provider)’ in Korea. MSP is a business area that has developed as the cloud market grows. ‘Cloud MSP’ provides optimized cost, operation, and security services throughout the entire introduction process, including consulting, design, construction, and follow-up management for the cloud that meets the needs of companies. Simply put, it is an ‘all-in-one’ service provider that replaces cloud adoption from start to finish.
CEO Kim believes that MSP will become the mainstream in the blockchain industry as well following the cloud industry. He emphasized, “The word that cloud MSPs use a lot these days is ‘optimization’,” he said.
◇ “Blockchain will become an essential infrastructure… Focusing on user experience in the future” = When asked about the future of blockchain, CEO Kim said, “The blockchain is still in its infancy, so many people are interested in the technology. “The general public will soon start seeing only applications that work on it,” he explained. It means that it will be a technology that can be used even without knowledge of blockchain, just as most cloud users can use it easily even if they do not understand exactly what technology it is.
Blocko developed the Argo platform to make the blockchain an infrastructure that can be used without knowing it. CEO Kim said, “Most of the current systems of companies are made of SQL, Java, etc., so they are not compatible with industry-standard blockchains such as Ethereum. It is practically impossible.” Argo lowered the barrier to entry by making it easy to link existing systems to various blockchains.
Based on the barriers to entry lowered by Argo, it also provides various SaaS (Software as a Service). Representative examples include ‘CCCV’, which can issue NFT with just a few clicks , ‘Silvermine’, which can issue tokens, ‘Pikkle’ for electronic voting, and ‘GEMpay’, a simple blockchain-based point payment service. to be.
CEO Kim explained his plans for the future, saying, “In the future, rather than continuing to release new services, we will focus on raising the details.” Rather than increasing the types of services, it means to strengthen the internal stability. The goal is to overcome competition with other similar blockchain services by maximizing the user experience of existing service products and securing stability.
Reporter Shin Tae-hyun holjjak@06r5359632
“I feel responsible for the first listing challenge… We will have certain persuasiveness through IPO ” = Blocko is the ‘blockchain listing challenge No. It aims to be listed on special technology in the third quarter of 2023. In December of last year, it received an A grade in the simulation technology evaluation (gipyong). In order to supplement the funding capability, which was poorly evaluated in the mock evaluation, it recently attracted a strategic investment of 5 billion won from Daehong Planning.
Regarding the title of ‘No. 1’, CEO Kim said, «With the help of the Ministry of Science and ICT and the Korea Internet & Security Agency, I was fortunate enough to be the first to challenge the listing.» He continued, “No matter how technically I explain to a company (which wants to adopt a blockchain), there are some parts that cannot be persuaded. ” he added. It is said that listing is a sure way to raise Blocko’s persuasive power to companies that are considering not only raising funds but also introducing blockchain.
Blocko is currently accelerating preparations for listing by communicating with Shinhan Investment & Securities, the listing manager. However, the listing may be delayed until the second quarter of 2024. This is because there are many external variables. CEO Kim said, “Recently, interest rate hikes and virtual asset-related systems are rapidly changing, so we are looking at even the second quarter of next year.
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