Exclusive Interview | Korean blockchain media HKBNews interviews DREP to explore ecosystem and business expansion
DREP’s trip to Seoul, DREP’s co-founder Momo was invited to the portfolio closed-door meeting of Huobi Eco. On the next day, DREP’s co-founder Momo and CMO Belinda were interviewed by HKBnews.
As a rising land of blockchain, South Korea has always been an important market for DREP ecosystem deployment. Our Kakao talk community and Twitter follower base has more than 3,000 followers and are still growing, which is constituting a significant proportion of DREP’s user base.
At the same time, we are also looking at the commercial deployment of DREP technology solutions. Check out the videos below to find out more!
Some key sentences during the interview from our two bright ladies:
Momo: “DREP is actively entering emerging markets such as Australia or the Middle East to find better enterprises to deploy our technology services. Currently in the Australian market, some leading Internet platforms have decided to use DREP tokens to pay for platform services.”
Belinda: “So far we have more than 30 members in the DREP ecosystem, including IP protection, identity verification, and DAPPs with existing user base and traffic. Now we are tapping into the Korean market as well since an increasing number of Korean enterprises are looking at transition into Blockchain, which is where DREP can be of great usage.”
Below are the full scripts from this interview.
Host: Could you tell me about yourself?
Momo: Hi, I am Momo, co-founder of DREP Foundation. I am a four-year entrepreneur in pan-entertainment industry. Before DREP, I was working as a securities analyst in Orient Securities and conducted numerous research in Fintech.
Belinda: Hi, I am Belinda, CMO of DREP. Before DREP, I was mainly with a strategic consulting firm Falcon and Associates under Investment Corporation of Dubai and worked on projects with both Emirates Airline and Dubai Tourism Board.
Host: I would like to hear a detailed description of the DREP project.
Belinda: Sure. I can start first. DREP is a technology company and we are building two products mainly, one is DREP Chain and the other is reputation protocol. Essentially we want to build a comprehensive data ecosystem on chain. DREP chain is a secure, scale-out infrastructure that can support applications with high transaction and high traffic requirement.
And Reputation protocol, which is chain-agnostic, is developing itself into APIs and Plugins that any kind of DApps can use directly and the users on the platforms can also use this technology without knowing that they are using blockchain, just like the way we use internet.
Momo: Our vision is to make DREP solutions as simple as using WeChat pay so that our data ecosystem can cooperate with more traditional internet companies.
Host: Why on the one hand you are talking about data privacy, on the other hand, you provide users’ data to platforms or enterprises?
Momo: Good question. Data security means that on the infrastructure, we use cryptography, secure multi party computation and distributed key storage to ensure the data security and user confidentiality during data transactions. While the reputation protocol allows users to have the options to choose whether opening up their data to platforms or not. If they don’t want to disclose the data, it’s totally fine. If they open, they get more targeted services or incentives from the platforms and the platforms can conduct the targeted user acquisition.
Host: Why do you think data security’s combination with blockchain could be the future?
Belinda: From market research and real-work experience, we know lots of people praise the need of decentralisation but actually decentralisation itself is very inefficient and sometimes it is not needed at all. No matter which industry you are in like real estate, finance or healthcare, no matter which size your company, you need data security to protect your users’ info. It is crucial. That’s also the most frequent requirement from our business partners. They need data security more than anyone else.
Host: What are the other technology areas that DREP is focused on?
Momo: DREP is focused on reputation and it has never been changed. We want to link up the reputation of users across different platforms, using DID (decentralised identity) technology. During the transaction of reputation data, we use cryptography to ensure data privacy and user confidentiality.
We are also researching actively on SMPC to gather user’s data from different platforms in a secure method to prevent data leakage.
Host: How do you manage to have partnerships with so many companies outside of crypto space, you know, without them knowing too much about crypto?
Belinda: First of all, we talk with companies who have interests in adding the blockchain component to their platform and services. During the conversation, we either solve their doubts regarding technology docking or help them to identify how blockchain could be integrate into their existing product or services.
It is also important to understand the purpose of their adoption of blockchain technology, whether it is to reduce costs, improve certain process, advance product, customer data safety and security, reduce fraud and counterfeiting, etc. The list could go on and on. So it is very important that both parties talk actively and candidly about what is needed and what can be delivered.
Host: There are already some reputation system platforms that didn’t get good results. Why is that?
Belinda: Part of the reason why reputation-based projects are not performing well is due to its failure to go to mass adoption and its limitation in scalability. DREP has already got active clients and DAPPs that are actively docking with us to build the data ecosystem on chain.
It is noteworthy that the reputation data under the context of DREP is similar to data so it is very broad.
We have a very strong and solid developer team in-house building our technology infrastructure and a hard-working PR team who actively engage and update the community.
Even at this bear market, we are hiring more developers on board and conducting BD.
Host: What is the most innovative part of the DREP project?
Belinda: The most innovative part is that DREP is a public chain with a business model. The blockchain technology infrastructure could be easily adopted by traditional internet platforms or enterprises without them needing to understand what is blockchain and how to use it.
We aim to have it very user-friendly.
Host: Is it possible to measure a person’s reputation as well as content and objects?
Belinda: The measurement of people, content and objects is largely dependent on the platform themselves because they have a more nuanced understanding of the desirable behaviors they want to see from their users.
We DREP simply work as a reputation aggregator and connector.
Host: Many projects are struggling during the process of listing the exchanges. How do you going to get over it?
Momo: Actually DREP is doing pretty well at this bear market. We have secured exchanges and are in line with them in terms of waiting for a better timing.
At the same time, Kucoin and Huobi Eco have been our strategic investors due to our strong tech background. They have been supportive in our overall strategy as well.
Host: What do you enjoy most in crypto space?
Belinda: In crypto space, it is not enough that you excel in your area of expertise. It requires to have a comprehensive knowledge in many spheres including finance, marketing, trading techniques in secondary markets, community management, etc. Being able to exchange ideas with the bright minds in the space is very effective and efficient to stimulate the mind.
Momo: I have been a serial entrepreneur and I always like the hustling. Blockchain space is moving very fast and you get to execute your ideas very quickly. At the same time, during my BD process for DREP, I have understood more about this technology and what kind of potential opportunties it could bring to enterprises and users out there.
Host: Could you tell me about your future plan?
Momo: Me and Xiaolong have been in Singapore and Australia lately, mainly to discuss with overseas partners about technical docking and reputation protocol implementation.
As for DREP ecosystem, there are already more than 30 members inside the ecosystem ranging from IP protection, identity verification, security token offerings, and a multitude of DRApps that facilitates the quickest mass adoption of DREP’s infrastructure.
Now we are looking at expanding more business partners overseas. Korea is one of our markets so we look forward to the exciting chapter ahead.
The videos are attached below. Check them out, lovely DREPers!
About HKBnews: HKBnews is a well-known blockchain and cryptocurrency media in Korea, which is aimed to bring news back to its essence by spreading correct and reliable news.
ABOUT DREP Foundation
DREP Foundation is devoted to building a performance-oriented technology infrastructure supporting high transaction capacity for an ecosystem generating valuable reputation data. Focusing on two industry pain points: lack of user adoption and low transaction throughput, DREP Foundation aims to provide highly scalable, modular blockchain architecture for deployment of a reputation protocol that any types of platforms can use.
DREP envisions a global plan to empower a wide array of platforms to have tokenized reputation ecosystem deployed on top of DREP Chain, which is secure, scalable and reputation data supportive.
Reach us on social channels
Website — www.drep.org
Telegram — https://t.me/drep_foundation
Twitter — twitter.com/drep_foundation
Reddit — www.reddit.com/user/DREP-FOUNDATION/
Medium — medium.com/@DREP_Foundation
Linkedin — www.linkedin.com/company/drep-foundation/
Steemit — https://steemit.com/@drepfoundation