CEO James Lubin of BlockApps, who is the son of Joseph Lubin who is the co-founder of Ethereum, is jumping into South Korea’s corporate blockchain market.
EEA (Enterprise Ethereum Alliance), which has grown its ability to develop on its own through competitions for platforms, selected South Korea as one of major targets as it carries out its first blockchain project for enterprises.
It selected QRAFT ETHER (CEO Park Joon-ho) as its partner before it commercialized its blockchain project and designated QRAFT ETHER as the South Korean Office.
According to industries, CEO James Lubin signed a partnership with QRAFT ETHER as it looks to enter South Korea’s blockchain market.
BlockApps, which is a member of EEA, is currently supplying its blockchain platform for many foreign businesses such as Red Hat, Microsoft, Google, and AWS.
It is also planning to carry out various projects that apply Ethereum platforms within South Korean companies.
South Korea will also carry out many projects that will apply BlockApps’ Ethereum technology to many areas such as concert, culture, insurance, finance, and energy.
There are currently 1,000 blockchain experts and more than 50 projects that are currently taking place within EEA. Since BlockApps has many experiences with various global businesses, it is likely that it will exert huge influence on South Korea’s blockchain market as well.
BlockApps established a blockchain-based Smart Ticketing system with UPGRADED and they have solved illegal ticketing problems. UPGRADED was recently acquired by Ticketmaster, an American ticket sales and distribution company. BlockApps also materialized successful examples of commercialization in Chinese market. It established a blockchain-based employee management system with Minsheng Life Insurance, which is one of China’s largest insurance companies. Its blockchain system traces goals of salespeople, activities, and incentives in real-time through blockchain technology. Minsheng Life Insurance had had difficulties in managing its salespeople as they are scattered throughout China.
“Since we lead blockchain communities along with EEA, we expect that we will be able to create various examples of commercialization in South Korea as well.” said James Lubin. CEO James is certain that BlockApps will be able to spread its technologies throughout South Korean markets through its partnership with QRAFT ETHER and that BlockApps will be able to respond to requests from South Korean businesses.
“BlockApps is a leading company that was the first one to introduce the concept of corporate blockchain into the industry.” said CEO Park Joon-ho of QRAFT ETHER. “Because it has leadership within corporate blockchain field, it will be able to introduce successful blockchain-based services in South Korea one by one.”
BlockApps will also act as a pipeline between global businesses and South Korean businesses by utilizing EEA-based network to the fullest. It is also heard that BlockApps will also work on various standards that are needed for corporate blockchain, case studies, networking, and EEA-based solution certification business at the same time. It is planning to carry out various community activities with 567 members of EEA as well.
BlockApps’ goal is to create an innovative corporate blockchain market that surpasses that of Hyperledger and R3 Corda that are corporate blockchain alliances.
Staff Reporter Gil, Jaeshik | osolgil@etnews.com