KOK Foundation stated to create a Korean Wave blockchain platform that includes game, beauty, and fashion.
<Sung-jun Park, CSO of the KOK Foundation.>
“We have platforms such as Naver, YouTube, Baidu, and Netflix that we use almost every day, but we have only encountered limited content through limited platforms,” said Chief Security Officer Sung-jun Park of KOK Platform. “Unlike traditional platforms that share limited content, the KOK Platform not only shares content but also allows us to receive legitimate profits through blockchain so that many of our content can be used as a wider and fairer decentralizing content for many users and creators.
Young-Kyu Choi, CTO of KOK, pointed out the existing blockchain problems and emphasized that better blockchain technology will be applied to the KOK Platform. He stated that “(In the KOK Platform) a number of dDApp will create an environment that can operate.” He also said, “ As Vitalik Buterin, the founder of Ethereum said while blocks pursuing a ‘decentralization,’ ‘security,’ and ‘scalability’ all three issues are not easy to solve. “KOK Platform that 4th generation blockchain will be developed by utilizing AutoXML technology that automates the exchange of data standards by protocoling with advantages of current 1st, 2nd, and 3rd generation blockchain.” He also mentioned. “we will not program the smart contracts that compose DApps, but allow many developers and users to conveniently develop and use DApp within KOK Platform.”
Regarding block-generating nodes, CTO claimed that “ The DApp representative will play a representative role as a node, rather than in the form of a block producer with many tokens, like the existing third-generation blockchain, selecting nodes through staking.,” adding, “the representative will be able to process a large number of data generated by DApp in the fastest and most stable manner by creating a consensus on distributed ledgers.”
“We will create P2P browsers that can view transactions of DApp(KOK shopping malls, content media, games, etc.) anywhere in the world to enhance transparency in transactions and ultimately create ‘WWBW’ (Worldwide Blockchain Web)’ beyond ‘WWW(World Wide Web)’,” he said.
Ji-won Kang, CEO of Super Acid, which oversees the game business division in Korea, has already declared that the game “Magia,” which is being serviced in 130 countries, will be opened on the KOK Platform. In addition, a variety of games will be added to the KOK Platform one after the other. In addition to providing its own games, the company also announced its plan to provide open data on the KOK Platform so that outside developers can make good games, and use the AI system held by KOK to identify demand and find suitable consumers to supply games.
Users can easily and comfortably pay using KOK Token, the cryptocurrency within the KOK Platform, and developers will be able to meet users at a much lower platform fee, rather than offering nearly 30 percent of the fees paid to an existing platform such as Google App Store.
The conference became a venue to discuss the shift in awareness of the Fourth Industrial Revolution and the right direction in which blockchain technology should be utilized in time for the fast-changing era. Experts say that blockchain technology is needed to lead the Fourth Industrial Revolution for the spread of various Korean contents, distribution of products, and distribution of Korean Pop culture contents nationwide,. Representatives from various industries agreed that the KOK Platform will play a central role in this future.
The KOK Platform was also a venue for sharing the vision that the company will plan and create a global content platform, rather than just a simply traded cryptocurrency in the market. At the conference, KOK Platform shows t global service in a variety of ways, including culture, arts, content, games, and finance, by utilizing the advantages of blockchain, “transparent distribution of wealth” and “exchange convenience.”
Experts cited the lack of cryptocurrency usage as the main reason for failed blockchain projects. KOK Platform, a converged platform based on actual business models, combines cultural contents, games, and finance with blockchain to effectively utilize cryptocurrencies and serve as a platform that can be conveniently consumed and accessed by people around the world. Therefore, KOK proved at the conference that this expectation is possible as the converged platform.
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