Preoccupy the blockchain platform
Preoccupy the blockchain platform
  • Kim Hyoung-joong(khj-@korea.ac.kr)
  • 승인 2019.06.10 14:00
  • 댓글 0
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Motorola's "brick phones" have shown that they are able to make calls on the move. Brick phones became thin and equipped with a camera. Smart salespeople have noticed that smartphones are the best thing to post selfie pictures right on Facebook. They started advertising ecstatic camera features instead of call quality.

When engineers explain communication technology by splashing their saliva, the sales staff emphasized "excitement." Customers were not very interested in complex technology. They just wanted to spend US$ 1,000 on a nice device and taste the excitement. The salespeople aimed at such minds of customers. It is not technology that makes people open their wallets, but salespeople. For what? They sold "excitement."

Kodak collapsed during the evolution of the brick phone, and Nokia emerged like a comet and disappeared. Meanwhile, Twitter and Facebook have been squeezing into new markets. The brick phone was a phone, but Apple turned it into a computer. Apple peaked and Motorola was forgotten in the mobile communications market.

Bitcoin is an icon of "trust." It's like Motorola's brick phone. Wal-Mart said it would use blockchain to supply fresh vegetables. The idea of supplying freshness with blockchain was unrealistic from the start, as it was impossible to put vegetables in the blockchain and then remove them. But that works because Wal-Mart does.

Prof. Kim Hyoung-joong, head of Korea University's Cryptocurrency Research Center

Trust in Wal-Mart has grown in trust in blockchain, so customers believe the vegetables delivered will be fresher. That's the secret of marketing. Blockchain appeared like a comet when Wal-Mart was looking for something to give trust to its customers. Just the mysterious one. Wal-Mart caught the blockchain.

Many entrepreneurs give up trying to find out about blockchain. Because it is difficult. Engineeringly understanding blockchain is not particularly helpful in marketing. It is much more important to create a market with your imagination. Bitcoin has shown that no double payments occur without brokerage houses, and that trust can be secured in a trustless space.

Companies that first connect the basis of trust to the market will be the winners. I think Facebook's Libra project is a good example. The previous history was the history of the war to secure territory. Now there is a gunless war going on to take over the platform. If Facebook's 2 billion customers buy a coin for 10 dollars, it will accumulate 20 billion dollars. When a coin deal is made on the Facebook platform, it becomes the most influential bank and market. That's why I'm afraid of the Facebook platform.

Competent companies do not need to be enthusiastic about the original technology of blockchain. They must immediately tap into the new market and open wide. Over the past decade, engineers have discussed bitcoin technology sufficiently, and they continuously complement-deficient technologies. Now, technology is worth to use. It's got a lot of open source. The problem at hand is the discovery of a newly emerging market. Blockchain will be a good catalyst for the transformation of companies that feel limited in the existing market. Now is the time to take the lead in the global platform market by combining blockchain's "trust" and exciting "dream."


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