2nd Alpha-Chain Project, Launch of ‘GLC’, the Blockchain-based Mobile Gift Certificate Platform

Alphacon — Gift Land Enter Into an Agreement

Alphacon Network Foundation — Gift Land (GLC) sign an agreement for GLC to join the Alpha-Chain Project. From the left, Gift Land CEO Keun Young Shin, Alphacon Network Foundation CEO Siwon Hahm

On the 28th the Alphacon Network Foundation, the blockchain-based healthcare platform entered into an agreement to launch the GLC (Gift Land Coin) Dapp mobile gift certificate project through the Alpha-Chain project, which uses Alphacon’s Mainnet coins as a key currency. This marks the second project to join the Alpha-Chain.

Last month, the Alpha-Chain started with AlphaFood, the first project on the Alpha-Chain. Now, the second project on the Alpha-Chain, the GLC mobile gift certificate project is underway.

GLC operates an ecosystem of mobile gift certificates using blockchain technology, allowing anyone to easily issue mobile gift certificates and even sell, certify, send, exchange, and settle accounts with them.

‘GLC’ consists of two business areas: a platform offering business covering all areas of mobile gift certificate ecosystem from issuance to settlement of mobile vouchers, and a gift certificate vending exchange business that can buy, sell, and exchange gift certificates.

Although the market for gift certificates, which is announced through annual tax payments, is worth about 11 trillion KRW, the negative distribution of so-called “kick” has been added in the process from issuance to final consumption, creating a large market that is difficult to estimate.

GLC is advocating a healthier direction for the gift certificate market by changing the whole process of the gift certificate ecosystem and disclosing all information to everyone through blockchain technology to eliminate the negative distribution of gift certificates.

The CEO of Gift Land, Keun Young Shin, who is also the Chairperson for the Korea Blockchain Startup Association stated, “By combining gift certificates with blockchain technology, the problems of dual payment problems will be solved, and as it becomes more stable and reliable, mobile gift certificates will completely replace tributary gift certificates. Under this process, ‘GLC’ is the first project to commercialize blockchain-based mobile gift certificates in not just Korea, but the world, and will allow any company in the GLC ecosystem to easily issue and use gift certificates.”

In February, the Alphacon Network Foundation unveiled the Alphacon Mainnet coin using the PoS (Proof of Stake) 3.0 consensus algorithm. With the ability to issue tokens through the Alphacon Mainnet rather than depending on Ethereum-based tokens, the Alpha-Chain project was launched to address the problems of existing ICOs.

Alphacon Network Foundation CEO Siwon Hahm stated, “Our big vision is for the Alpha-Chain to become the Ethereum of the healthcare category. However, if there is another area that can develop along with the Alpha-Chain as well as the healthcare field, we will develop it as a mutually beneficial platform considering the limitations.”

Currently, approximately 10 affiliate medical institutions in Korea accept Alphacon ALP as payment for services rendered; with plans to increase the number of affiliate medical institutions that ALP can be used for payment to over 300 nationwide within this year. The Alphacon Network Foundation, which helps attract and promote outstanding projects in various fields beyond healthcare, maintains the goal to establish itself as an ICO key currency that surpasses Ethereum in the domestic market.