FintruX Roadshow: The Korean Experience
Korea is known for being a beautiful country, with friendly people and fantastic food. Recently, Korea has also been able to position itself in the forefront of technological advancement and has rapidly developed as one of the largest crypto markets in the World — it is a country where more than 1/3 of salaried workers are investors.
With this in mind, we decided to accept invitations to several high profile blockchain events in Seoul to present the FintruX Network and our vision to serve the underserved.
On the 18th, we spoke at the Token Post Blockchain January event and on the 19th we presented at the Blockchain, Cryptocurrency and Beyond. Speaking at these events with several Blockchain companies, start-ups, scholars and community leaders from all over the world was a great experience and allowed us to extend our network of contacts in the Asian market.
During our time in Korea, we also managed to host a meet-up with many of our FintruX supporters and we were very impressed by their enthusiasm and dedication towards our project.
We’re humbled and grateful to see that our hard work and dedication has proven successful in establishing FintruX as the global p2p lending ecosystem.
Korea in the Spotlight
The current economic climate in South Korea is ideal for making investments and starting new businesses. Since 2012, the Korean government has been committed to creating a “start-up ecosystem” to counter high youth unemployment and to keep their huge chaebol corporations like Samsung and Hyundai competitive in the global market.
Initiatives like Startup Campus, Innovation Centre and Employment Centre for Entrepreneurs were established to offer a wide range of services for new businesses and have been very successful. However, financing startups has been a more challenging service to provide. Although the Korean government is eager to financially support local and foreign startups, as well as Small to Medium Entrepreneurs (SMEs), only a select number of companies are actually able to get financial aid each year.
A Game Changer
FintruX will offer Korean entrepreneurs an innovative funding alternative by instantly matching cash-hungry businesses with lenders who want to invest in their enterprises. What’s more, since FintruX Network functions as a lending platform, we do not compete with existing p2p lenders. Instead, they can become a part of our ecosystem where they can offer their own unique asset classes as part of our offering.
One thing that became clearly apparent on this trip, was that governments are always looking for innovative, new ways to boost their economy. Universally, one of the best ways to grow an economy is to focus on growing small businesses into larger ones. If startups in their country are failing at the first moment they hit any cash flow issues, that stifles progress and economic growth.
Our platform is a valuable tool that will have far reaching effects on any nation’s economy by stimulating growth and providing a stable source of liquidity for growing small businesses.
South Korea has one of the best technological infrastructures in the world, including the fastest internet speeds and highest mobile penetration. The government and its population are foreigner-friendly and because of these factors we believe Korea is on the path to becoming an international startup hub and a valuable gateway into the Asian markets. We are so fortunate to have a good start in Korea. We will be back again and look forward to meeting our ever growing loyal and supportive community.
About us: FintruX Network is the global P2P lending ecosystem powered by blockchain and no-code development. FintruX facilitates marketplace lending in a true peer-to-peer network to ease the cash-flow issues of SMEs that typically face challenges getting loan financing, such as startup companies.
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