Three important questions
Today we would like to answer the three most important and frequently asked questions. We appreciate our investors and all people interested in the development of the project. That is why we create an open and transparent system of interaction with you. And we would like you to know everything about the project and its development.
1. What is DataXchain?
DataXchain is a blockchain-based decentralised data trade service providing a tailored matching service between data owners and data users through its unique Intelligent Matching Engine (IME).
Data users can purchase data, such as music, images or various forms of information, via a Smart Contract, which will automatically execute the transaction to pay data owners a DataXchain Token (DXCT) and allow data users to download the purchased data.
2. Who started DataXchain?
DataXchain’s core team is led by Mr Lee Woo Yung (CSO), Mr Baek Yong Chang (CEO), Mr Choi Young Hun (CMO) and Mr Frank Cha (COO).
Founder and CEO of Xiilab, Mr Lee is a prominent figure in field of data technology in South Korea. Having participated in policy formulation on data management at a governmental level, he is the President of the Association of Big Data Business & Services Companies in South Korea. He started Xiilab in 2010 and grew it into a Konex-listed industry leader in big-data technology and Artificial Intelligence with a market capitalisation of KRW1.1 billion.
Mr Baek built an impressive career as one of the key executives at KT Corporation, formerly Korea Telecom, which is the largest telecommunications company in South Korea. He was Managing Director between 2000 to 2010 and then Vice President after, overseeing areas such as intelligent data services, network and technology, technical sales, the Digital Library and the e-book business. More recently, he was the Senior Managing Director in Dinnoplus, managing sales and marketing of IoT, Edge/Cloud Computing and Big Data solutions.
As Chief Marketing Officer, Mr Choi will build DataXchain’s brand and drive its adoption. He has a strong background in Intellectual Property (IP) management, having been the Managing Director of Markpro, an IP management services provider, covering sales, marketing and operations for over 20 years at Markpro. He is currently also a Managing Director at Xiilab.
Mr Cha will manage the overall operation of DataXchain, implementing its business strategies and plans and building a successful ICO. Prior to this, he was the oversee the US operation of Markpro, driving sales and market share growth, services, managing market research and growing various product lines.
How does DataXchain make money?
DataXchain makes money each time a transaction is made, receiving a commission each time a data user decides to purchase data from data owners on the platform.
The company has undertaken to donate 50% of the commissions to charity, while ploughing the remaining 50% into the operations and expansion of the DataXchain ecosystem.
