Selected as TIPS (Tech Incubator for Startup) in the field of Blockchain

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LEDGIS_Official

4 min readFeb 10, 2020

LEDGIS is a self-developed solution of Institute of Blockchain Technology. LEDGIS is a next-generation blockchain platform that allows users to use various types of services regardless of the boundaries of the chain, freely crossing the public and private areas .

Institute of Blockchain Technology was nominated for the Tech Incubator Program for Startups (TIPS) last December. The TIPS program was started in 2013 under the supervision of the Small and Medium Business Ministry of South Korean Govt. with the goal of fundamentally stimulating the technological start-ups founded by high-quality skilled technocrats. TIPS program is a privately sponsored team that selects and fosters startup teams with excellent technical products. Previously, the R & D funds were provided to companies through government screening / judgment. TIPS program would be a way for angel investors in the private sector to invest in companies and matching the R & D funds provided to selected companies through government screening. It is a combination of the investor’s perspective with government funding. Private operators, venture capitalists and accelerators appointed by the Small and Medium Business Ministry select promising technology start-up teams. The government provides the technology development funds to the startups.

TIPS Program

The TIPS program is a very useful program for technology start-ups with innovative business products and implementation of technology to develop and commercialize it, prepare for global entry and attract further investment. IBCT, the developer of the LEDGIS, was selected for the 2019 TIPS program and was recognized for its excellent technology development.

The aim of IBCT’s TIPS program is to develop, advance and commercialize a fast, easy-to-use, scalable and highly secure blockchain solution that can be introduced at low cost by institutions and enterprises that want to adopt blockchain technology.

In particular, we are developing a “blockchain solution for protecting large-scale sensitive information” that is highly transparent and enhanced security in the public, medical, distribution, and logistics sectors which account for the largest portion of the blockchain market beside financial sector. IBCT develops and advances the following technologies based on public blockchain and private blockchain technology. Experience and know-how of establishing ‘Public Blockchain Pilot Project’ in 2019 to develop infrastructure in institutions and companies in the public healthcare, distribution and logistics domains to support the introduction and operation of blockchain.

1. Development of simple network creation technology

In the private blockchain, you can easily develop additional networks to share information with new nodes, develop admin panels, node programs, server communication modules, and easily create and participate in network management.

2. Development of encryption sharing technology

Encryption sharing technology is a technology that encrypts and records original data matched with blockchain information so that the data can be checked only when the information is requested / approved. Existing blockchain networks record their data or state in blocks and share the block with other network users and connect it with the next created block to prevent forgery of the information. The public network provides the function to prevent data forgery and the unspecified number of data is shared so that the information can be secured. The disadvantage is that sensitive data cannot be recorded and shared inside the network. LEDGIS provides the ability to share encrypted data in conjunction with IPFS to provide the best of both public and private networks.

3. Development of IPFS interlocking mass data management technology

In general, the amount of data that can be contained in the blockchain can be very limited to record only transaction information or text. Due to this, it is difficult to apply them to industries that require large amounts of data such as photos and videos but LEDGIS supports IPFS interlocking mass data management technology.

4. Development of biometrics-based user authentication technology

We are developing a biometric key manager that allows easy access to the blockchain network through authentication using biometric information. It implements biometric authentication technology by developing key encryption using user biometric information and developing API so that DApp and biometric key manager can exchange information.

IBCT has already applied for and registered 12 patents in the logistics and blockchain sector. Based on this, it has successfully completed the TIPS program.

LEDGIS

“LEDGIS | Ledger+ Aegis”

Next-generation Blockchain”

LEDGIS, a self-developed solution of Institute of Blockchain Technology, is a next-generation blockchain platform that allows users to use various types of services regardless of chain boundaries, freely crossing the public and private areas. By protecting the integrity of the ledger, we will protect the trust and interests of the participants and create a sustainable ecosystem in which many are active.