Korea Meetup Q&A- Cofounder Terry Talks about IOST in China & Japan, DeFi, Watermelon & More

IOS Foundation
Oct 23 · 12 min read
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Hello IOST community members,

On October 13th, IOST Korea branch held an online meetup. More than 400 people including community members, reporters, KOL, and investors attended the IOST online meetup through the IOST Youtube channel live. This event was a meaningful time to explain the past achievements of IOST and share IOST future plans.

The Q&A session with IOST cofounder Terry is from 3:31 to 21:12.

The meetup agenda was as follows.

  • Greeting and opening speech
  • Q&A session with Co-founder & CTO Terry
  • Why I chose IOST Platform as a developer?- by Q.E.D the1st tier Servi node,
  • What is the meaning of DeFi in the blockchain field, and what’s the plan of IOST?- by Blake- IOST Korea Country Manager
  • Live Q&A: Q.E.D & Blake
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During this meetup, the Q&A session was conducted by CTO Terry and Korea Country Manager Blake. IOST Korea branch collected questions from the community members for two weeks prior to the online meetup. After that, we selected questions and held a Q&A session with CTO Terry.

The main questions are as follows.

1.General: Business Plan for the rest of 2020.

IOST is actually a relatively old coin that has been attracted by many investors. However, people may think that the older coins have no room for development, IOST is following the important meta in the market.

  • While DeFi and NFT are drawing attention, please let us know about IOST’s plans for 2020.

2.China: BSN, Government, Enterprise related updates

At the IOST Gangnam meetup earlier this year, I heard that IOST is working with the Chinese government in various ways. However, IOST was not included in the public chain list announced a few months ago.

  • What is the current role of IOST within BSN, and is there a possibility that it will be added to the public chain in the future?
  • In addition, please let us know in which areas you plan to collaborate with the Chinese government and IOST.

3.Japan: Listing plan in Japan, Community & major achievement

According to my research, in order for a coin to be listed in Japan, it has to pass a very strict screening process. The fact that IOST is listed on Coincheck is considered to have achieved remarkable growth in Japan.

  • I would like to know the size and major activities of the IOST community in Japan.

4.Next milestone in DeFi

In the second half of 2020, IOST decided to actively invest in the DeFi sector, and Pumpkin is known as the IOST network’s first yield farming project.

  • I wonder if there are any projects that are preparing plans for the second or third project in the near future.

This article provides answers to the above questions, but if you would like to check out Q&A in video format, please click the Youtube link(3:31–21:12) now! :)

Also, as Terry said, IOST is actively hoping for a great team to join the IOST network.

Join IOST now and create a wonderful ecosystem together.

Cheers!

Full script:

— —

Q1.

Terry, please say hello to the community in Korea.

Can you introduce yourself shortly?

Hello. My name is Terry, and I’m the co-founder of IOST.

I think some of you probably already know me.

I have visited Korea twice and greet you through various events.

I am in charge of overall management and have experience in tech.

I worked as a developer at Uber and Microsoft in Silicon Valley.

For this reason, I focused more on the development side at the beginning of the IOST project.

Since then, I’ve been in charge of overall operations and marketing.

For this reason, I think you have met me through many events.

I really wanted to visit Korea this year, but the coronavirus made it difficult to travel abroad.

When Things are getting better in near future,

I would like to meet you in person through offline events.

I look forward to having such an opportunity soon.

We will try to communicate with you more often through online.

Blake is in charge of Korea,

If you have any questions, ask Blake.

I am so happy to be able to share this time with you today and sincerely answer your questions and share what IOST has achieved and what we are planning.

Nice to meet you again 😁

Q2.General: Business Plan for the rest of 2020.

IOST is actually a relatively old coin that has been attracted by many investors. However, people may think that the older coins have no room for development, IOST is following the important meta in the market.

  • While DeFi and NFT are drawing attention, please let us know about IOST’s plans for 2020.

It is already October, and only one quarter is left.

I think you’ve probably experienced a very dynamic and crazy DeFi market this year.

There have already been two big waves related to DeFi.

First, there was a wave related to yield farming, and then there was something related to IDO, using all the stacks.

We were fortunate to be able to keep up with these trends.

Perhaps some of you have done yield farming through Pumpkin.

Following Pumpkin, the next project called Watermelon will be launched on the IOST network.

We plan to support several functions on Watermelon.

  • DEX
  • Yield farming
  • Staking

All these functions will be supported internally.

As you mentioned, IOST is a relatively old project, so we have a strong developer community.

It also has a solid user base. These are great assets of IOST.

Old projects are long-lived projects, and there are obvious reasons for this.

IOST is a project that started in 2017.

There were a lot of projects started at the time, and I think 99% of them have already disappeared.

However, 1% of the surviving projects have a unique True Value that is different from the other 99%.

Teams in a wide variety of fields are working hard for IOST.

In the IOST network, there are various Dapp, IEO projects and DeFi projects.

The developer community and user community supported us.

They continue to complement/develop us in many fields.

And IOST is expanding the DeFi ecosystem very hard recently.

DeFi in various fields, not just one

A new project will be launched soon.

It will be built on IOST, not on other platforms such as ETH.

Innovations, users, and the community continue to advance IOST.

And the infrastructure that will become more robust and core in the near future.

It will be made on the IOST.

In addition, various partnerships will be announced along with the launch of Watermelon.

And a lot of different things will be announced over the rest of the year, too.

Q3.China: BSN, Government, Enterprise related updates

At the IOST Gangnam meetup earlier this year, I heard that IOST is working with the Chinese government in various ways. However, IOST was not included in the public chain list announced a few months ago.

  • What is the current role of IOST within BSN, and is there a possibility that it will be added to the public chain in the future?
  • In addition, please let us know in which areas you plan to collaborate with the Chinese government and IOST.

First, I want to clarify, BSN is not the Chinese government.

BSN is a 3rd-party organization that supports various blockchains.

China Mobile is one of BSN’s hosts, the largest mobile carrier in China.

For this reason, people sometimes confuse BSN with the Chinese government.

But this is a wrong concept.

And the second thing I want to clarify is that IOST has already joined BSN.

I think you probably understand that BSN is a huge initiative.

Therefore, there are many sectors in BSN.

Probably what the questioner asked about is a list of public chains.

The public chain works with BSN as a service provider providing technical support, and IOST is also BSN’s service provider as a certified developer.

BSN supports many fields. For example, IOST is the certified developer of BSN.

Many developers have applied to become BSN Certified Developers, and only a group of outstanding developers have been chosen. We are the BSN certified developer, and you can check this information on the website.

Secondly, we are the Blockchain App chosen by BSN in the Charity field.

In fact, it is the first and only blockchain App in the field.

If you check BSN, there are a lot of different sectors and they are constantly evolving.

The public chain is just a very small piece related to BSN.

In relation to the partnership with the Chinese government, there are two major projects in progress, and various small projects are being carried out together.

As you probably know, we are the first public blockchain project invited by the National Archives of China.

We are honored to have entered into a partnership with the National Archives of China and decided to collaborate on how to use blockchain technology to develop the ‘record storage’ area.

The ‘record storage’ area here is not to record every day of everyone.

This is an area of record important things which is carefully chosen by the Chinese government.

This is an initiative with the Chinese government.

In addition, we are working on several projects with local governments.

‘Ningbo City’ is a city close to Shanghai.

We work closely with the Ningbo local government.

IOST helps develop the metro CBD system in Ningbo City.

❉ CBD is the Central Business District, which refers to the core area of ​​the city where commercial financial and service facilities are concentrated.

All sellers are required to verify their identity and receive credit after accessing our blockchain system through subway CBD.

This is a very fresh concept, and it is the first subway CBD system using a blockchain.

This is the 2nd largest project currently in progress.

In addition to this, small projects are underway in Changsha City and Beijing City.

The project is underway in the agricultural sector and tracks how agricultural products are distributed.

In addition, a project similar to the electricity project in Japan is underway in China.

I am working on the team responsible for the B2B enterprise part in China.

The contents described so far are the contents of the update that IOST has made in the Chinese enterprise field.

Q4.Japan: Listing plan in Japan, Community & major achievement

According to my research, in order for a coin to be listed in Japan, it has to pass a very strict screening process. The fact that IOST is listed on Coincheck is considered to have achieved remarkable growth in Japan.

  • I would like to know the size and major activities of the IOST community in Japan.

Yes, Japan is a very interesting market.

Maybe you don’t know how difficult we went through before getting listed in Japan. You have to invest a very long time.

In fact, we started the listing process in Japan in mid-2019.

As a result, IOST was listed in Japan after 1 year and 3 months.

To do this, I had to prepare thousands of documents.

I submitted hundreds of reports to the Japanese government, and now we are whitelisted by the Japanese Financial Services Authority (JFSA).

There are many exchanges in Japan.

CoinCheck, recently listed, is one of the largest exchanges.

Besides coincheck, there are famous exchanges such as Bitflyer, GMO, Huobi JP, and Bitpoint.

We would like to be listed on all major exchanges in Japan.

This is IOST JP’s plan for listing.

It is very difficult to obtain whitelist permission from the Japanese Financial Services Agency.

However, after getting permission, it has a huge advantage.

I am very aggressively discussing listing with the various exchanges mentioned.

We intend to secure a high Japanese market share by listing on all major exchanges in Japan.

All exchanges have different advantages.

Also, I would like to talk about offline events as another Japanese initiative.

As we have done so far, we will continue our education on the IOST network by teaching at various universities in Japan.

We have already established partnerships with 2–30 universities in Japan.

In addition, we have partnered with Japanese hub to enter Switzerland.

Based on this, I taught at Zurich University.

This is an initiative related to education in Japan.

And in the future, we would like to provide a more basic/fundamental blockchain education program.

If you are concentrating on the Japanese market but don’t live in Japan, I think the only news about us would be news related to IOST’s listing on the Japanese exchanges, and you’ll probably hear a lot later this year.

If you don’t want to know it too late, check our social media more often and pay attention to the IOST news!

Through this, we hope you can quickly grasp the progress in Japan.

Q5.Next milestone in DeFi

In the second half of 2020, IOST decided to actively invest in the DeFi sector, and Pumpkin is known as the IOST network’s first yield farming project.

  • I wonder if there are any projects that are preparing plans for the second or third project in the near future.
  • I have already mentioned watermelon today, but I would appreciate it if you could tell me in more detail through this event.

First, we are a blockchain platform.

In other words, we do not work on these projects directly.

We support various Dapps by creating an ecosystem and anyone can join IOST and develop their projects on our network.

That’s why we encourage various teams to join the IOST network.

Pumpkin was the first team to join the IOST network in the field of yield farming.

Watermelon is a little different from Pumpkin.

Watermelon is an interesting project that focuses on three areas.

First is the stable coin.

Stable coins serve as the cornerstone of DeFi.

This leverages staking IOST and

Allows for Temporary Bridge Loan (TBL).

This allows DeFi stablecoins to be issued through collateral as a medium.

We hope that this ecosystem will operate stably based on this mechanism.

The second area I focus on is making IOST DEX.

We plan to support trading various assets through DEX.

This allows you to exchange your assets with IRC-20 tokens.

The third area of ​​focus is yield Farming.

This is related to IOST and Huobi assets. We are working hard to cooperate with Huobi.

A discussion with us is ongoing, and we are discussing the issuance of IOST-based stablecoins.

This means HT and HUSD will be on the IOST network.

The plan is to issue Huobi’s HT and HUSD on the IOST, and to run the IOST-based DeFi project Watermelon. In addition to Watermelon, there is a project called ZWS, and other projects are being developed in the UK and Korea.

By joining our social media group, you can get updates on projects in progress faster than anyone else.

Watermelon is the most imminent release of the ongoing DeFi.

Soon you will be able to experience watermelon.

You will probably be able to use watermelon within a few weeks.

Other projects will be launched this year soon.

IOST is just a platform and a lot of people are developing on our network.

Sometimes new projects that I don’t know are launched on IOST as well.

Join our Twitter & Telegram and be active.

Q6.

Question: Terry, you just revealed what’s going on with Huobi. Is that okay?

Huobi has already signed a partnership with Watermelon. It’s okay that Watermelon has disclosed some of their information and reveals that Huobi is considering launching their assets on the IOST network.

Is there any last thing you want to talk about?

2020 is a very important year for us.

We started the IOST project in 2017.

And there are only 3 months left this year.

2021 is the 4th year we started the project.

In my opinion, 4 years is a very long time.

And in Crypto, 4 years is a very special period.

This means that we cycled through all cycles in the crypto field.

Bitcoin has halved every four year, and Ethereum is facing a very important change.

Crypto Industry is like a roller coaster.

The reason we have survived this long time is because we have maintained our Core Value well and we have been constantly developing important things with the community.

The support from multiple nodes and developer groups and the efforts of our team members have made IOST continue to evolve.

We believe we can still innovate over the next four years that have not yet come.

And we will create unique results on the IOST mainnet.

I will do my best to let more people know us and launch more cool products on IOST.

Crypto is a very exciting field, and there are still fields to be pioneered in the future.

We look forward to seeing many of you who watch the video join the IOST and create a wonderful ecosystem together.

Cheers!

IOST

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