Just as the Internet-based digital revolution transformed existing industrial and technological paradigms, the blockchain revolution is shaking the very social order itself.
So said ICON Foundation member Min Kim in a June 12 interview with the US edition of the daily Munhwa Ilbo.
Kim said blockchain’s adoption in politics, business, society and culture could create new market orders. For example, blockchain-based financial systems were rearranging the social order while blockchain-based voting systems were establishing the basis of democracy.
He told the paper that ICON is known as Korea’s representative blockchain platform. Its loopchain blockchain engine is Seoul Metropolitan Government’s standard blockchain platform and ICON itself is also connected to a range of communities, including banks, brokerage houses, insurance companies, hospitals, universities and e-commerce.
ICON’s goal, the paper said, is to create a blockchain people actually use in their daily lives.
ICON’s market cap stood at more than USD 170 million as of May 2019. In terms of market cap, ICX has been a top 50 cryptocurrency for the last six months.
You can also use ICX on global crypto payment platform Crypto.com’s “Wallet&Card” app. Accordingly, you can buy ICX at Crypto.com using a credit card or bank transfer commission-free. Crypto.com’s MCO Visa Card also makes it easy to convert ICX into legal tender, allowing you to use it in more than 40 million shops worldwide that accept Visa Card.
ICX was the 16th cryptocurrency added to the platform.
Min told the paper that just two years ago, only a handful of people understood blockchain. But then crypto prices started to climb, the market grew, and even the average person on the street began to take an interest in the technology. He said the market has shrunk a bit from last year, but in terms of the blockchain industry’s substantive development, the number of market participants has grown greatly and he feels there’s been much development on the business and technology side.
He said just two or three years ago, only small communities of developers took an interest in blockchain, including pioneering projects Bitcoin and Ethereum. From the second half of last year and this year in particular, however, major companies have been making the jump into blockchain and now blockchain has the confidence to take its place as an industry of its own.
He said even existing industries and traditional markets are considering how to approach blockchain and that the technology was being adopted as a subject for study in its own right. This process of transformation has provided ICON opportunities to take part.
For example, with even leading multinationals and conglomerates taking an interest in blockchain, companies are gradually experimenting with creating profits and contributing to society by developing blockchain technology.
The ICON Foundation has established strategic partnerships with SK Planet and Naver LINE, the plan being to connect the business of these corporate giants to ICON’s network, expanding the network as a result.
News from the past week at The Iconist…
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- ON PARTICIPATORY DEMOCRACY AND ICONSENSUS(June 11)
- ON STAYGE: ROCKING TX (June 11)
- ICON TX CHALLENGE VAPORIZES ETHEREUM (June 10)
- HUAWEI’S 5G LAB: HARBINGER OF A BLOCKCHAIN FUTURE? (June 8)
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- WHY WEBLOC WANTS TO BE YOUR P-REP (June 7)