Decentralized Network Launch Event Highlights
LEDGIS recently held AMA session, giving a presentation about the launch of LEDGIS decentralized network on October 29th. Complied with the COVID-19 social distancing guidelines, many people attended and those who couldn’t come watched the event broadcast on IBCT YouTube channel.
Martin Lee, CEO of IBCT, the LEDGIS blockchain developer and Dongwook Kim, head of business department gave a keynote speech at this inauguration ceremony, that is attended by LEDGIS DApp partners and LED coin holders who have registered earlier to participate.
Martin analyzed the current phase of blockchain technology and addressed challenges to overcome in the future. A solution to these challenges he showcased was LEDGIS blockchain.
LEDGIS is a user-centered (SSI: Self Sovereign Identity) blockchain platform to prevent platform operators from monopolizing personal data, a platform that transfers control of personal data from businesses to individuals.
With the platform, individuals will be able to buy and sell their data and even create a data business for themselves. Companies can hedge their risks of retaining personal information. This may well be considered a paradigm shift as it is the advent of individual-centered era, where a number of services providers are connected around an individual.
Following the speech of the CEO Martin Lee, Dongwook Kim, head of business dept. presented a roadmap for LEDGIS governance and ecosystem development. Dongwook emphasized the advantages of DID (Decentralized Identifier) and IDH (Identity Data Hub) technologies that can be used across △Mobility, △Payment and △Procurement sectors.
Also LEDGIS’s DID technology is recognized as an international standard by W3C, the international web standards organization. The audience also got to learn that IDH distributes and stores personal information in IPFS (InterPlanetary File System) and Cloud Infrastructure which is optimized for implementing SSI (Self Sovereign Identity).
Mr. Kim went on to say ‘Lemonade’, a DeFi service, will be added to LEDGIS. There is no gas fee burden and transactions are processed in high speed. He also mentioned that this new platform will be a pleasant financial service that combines gamification. Next, he showcased user-friendly UX/UI while demonstrating LEDX, the explorer of the LEDGIS blockchain.
There was also a time for introducing Real Collection, JJIN, and Battle Tube, some of the various DApps in the LEDGIS platform. Dongryeol Choi, the CEO and artist of Wave-i Co., Ltd., gave an outline about Real Collection, a premium IP-based NFT platform. The Real Collection features New York East Village pop art and graffiti. His keynote drew attention because it was said that curated NFT works by up-and-coming foreign artists will be on sale exclusively.
Next, Repan CEO Jeon Kyung-don introduced JJIN, a real estate transaction platform based on blockchain technology.
We may see a day of no fake sales in real estate sector by applying NFT technology because JJIN service matches only one authorized real estate agent to one sale. It could be a very reliable real estate trading platform to the world.
As the last DApp, Battle Tube, a blockchain-based audition platform, was introduced. CEO Jeon Byung-cheol said that by combining NFT technology and an audition program with an open voting method, it can level the playing field.
In the middle of the launching ceremony, there was also a time for giving small prizes to the audience if they got the right answers to the questions about LEDGIS.
Give them a try to see if you can give right answers to these questions.
Q1. What is the name of the LEDGIS NFT trading platform?
Answer: Real Collection
Q2. What’s the nickname of Basquiat, the first edition artist of Real Collection?
Answer: Black Picasso
Q3. What is the name of the DID storage in LEDGIS?
Answer: IDH
Q4. What is the initiating date of the LEDGIS decentralized ecosystem
Answer: November 1st, 2021
Among the prizes presented, there were many things that caused laughter. There were finger games for hand basketball and bowling, a body fat meter, a lint remover, and a moving doll. The audience members who received the prize really enjoyed the moment.
Finally, IBCT CEO Martin Lee had the AMA session to answer questions gathered in advance from LEDGIS holders. We’ve put together things you’ve all been eager to hear.
Q. Tell us the ISMS certification status of LED coin?
A: We’ve been working on getting the ISMS certification since June. Obtaining it is considered essential from the perspective of information protection within the LEDGIS ecosystem. However, since the Financial Transaction Reports Act (FTRA) came into effect in September of this year, it will take some time to get certified because there are many different parts to deal with. We will make efforts to obtain certification as soon as possible. We’re also trying to get ISO27001 and EU GDPR certification.
Q. Will LEDGIS private network used by the Ministry of National Defense be linked to LEDGIS?
A: LEDGIS has a track record of building blockchain infrastructure for Korean government. Not only the Ministry of National Defense, but also local governments such as Bucheon City and the National Police Agency, as well as government and affiliated organizations. The private network is separated from LEDGIS coin economy, but will join as a node within the LEDGIS blockchain platform.
Q. Could you give us some LED coin price forecast?
A: There was a time when the listing price of Gopax rose from 1,500 KRW to ATH of 7~8,000 KRW. After the enforcement of the FTRA (Sep 25, 2021), it even dropped to 300 won. We will do our best to return to the previous state by re-listing on the exchange that offers KRW pair as soon as possible. However, you should not invest solely on my words, and the investment is made under the individual investor’s judgment and responsibility.
Q. Use of LED Coin?
When the LEDGIS mainnet is activated, service platform operators will enter the ecosystem. As the number of service providers participating increases, Crypto Economy will naturally be established. The key currency in the LEDGIS platform is the LED coin, and the bridge function will be applied later. It will provide a swap function so that payments can also be made through Bitcoin and Ethereum.
This was written for those of who couldn’t make it to the decentralized network launch ceremony. Hope this article helps a little.
LEDGIS can only be successful with the support of its holders and users.
We will bring more upcoming events and content for you users.
Thank you.
