QuarkChain Jonathan Kim: Keep The Faith, We Will Walk Together
Quarker Face-to-Face Interview №3
Korea was once the “land of Zilliqa” in terms of sharding projects. However, QuarkChain now outnumbers Zilliqa by multiple times in terms of the trading volume. Currently, QuarkChain has established solid partnerships with Korea’s leading crypto community such as Bitman. QuarkChain is anchoring in more than 24 projects with all types of industry partners from the number one securities firm NH Investments and Securities to leading game company Actozsoft. In addition, QuarkChain has presented as keynote speakers during Korea’s game industry and casino conferences and is expanding its sphere of influence to other industries.
QuarkChain has attained great achievements in the Korea market so far. All these would not have been possible were it not for the efforts of QuarkChain’s Korea team. Jonathan Kim, QuarkChain’s head of Korea, will talk about his QuarkChain journey with us in this article.
Join the Innovators and Change the World
Following the USA and Japan, Korea is the third-largest cryptocurrency exchange market in the world. Blockchain has been a popular buzzword related to Bitcoin in Korea since the time when Bitcoin first came out. As a veteran of the IT space in Korea, Kim understood the Internet has its limitations and is not powerful enough to truly manage digital assets. So it was natural that when blockchain was becoming popular, this concept immediately piqued Kim’s interests. Behind the craze about the skyrocketing price of cryptocurrencies, there lied a fundamental technology that can transform the Internet. Logically, Kim considered a new career in blockchain but he was concerned about the trustworthiness of projects since some projects were involved in scandals about scams and fund mismanagement. Then, one day, QuarkChain showed up.
When Kim was an expat working in China as a member of NAVER, he met Ting Du (QuarkChain CBO) and between them a strong level of trust was budding. Kim knew that Du was an accomplished entrepreneur and Du’s company QuarkChain also caught his attention.
While Kim was looking into the blockchain industry, he realized QuarkChain had a huge potential in addressing the fundamental issues of the Internet. He then met Qi Zhou, QuarkChain’s founder, and CEO. When recalling their first encounter, Kim said, “I’ve worked with some highly excellent engineers throughout my career; Qi is someone whom you could know right away how good he is.”
After several in-depth talks and participating in the first QuarkChain Seoul Meetup, Kim knew that QuarkChain would be successful in the future thanks to Qi and the entire team. Kim said, “I finally found this amazing project with excellent technological competency that can deliver what it promises!”
As an 18-year veteran in Business Development with stints in NAVER, Samsung, and SK, Kim has a unique viewpoint about the size of the company. “Big companies will last forever, and I had worked in some huge names for almost 18 years. I have witnessed throughout the 18 years that for every wave of changes, it was always those “then-tiny” innovators who later on changed the world. I decided that it was time for me to join the ranks of the innovators and I picked QuarkChain.”
Marketing and Business Development Activities of QuarkChain in Korea
According to Kim, the responsibilities of QuarkChain Korea team are three-fold. Those include growing and maintaining relationships with the local communities, creating partnerships to enrich QuarkChain’s infrastructure, and provide enterprise solutions for business partners.
Kim introduced that from August 2018 to May 2019, as QuarkChain was strongly against speculative trading, the team devoted a lot of efforts in creating steady, healthy growth in the Korea market. Such efforts bore fruit: Korea became a market where QuarkChain is a well-known blockchain project and its token QKC has a strong trading volume. The Korea team had utilized local resources to increase the awareness of the QuarkChain project and has grown a strong fan base.
Currently the team is in touch with some traditional industries in the hopes of expanding QuarkChain’s name recognition and building partnerships. For example, the team aims to build practical usage of QuarkChain technologies in real life, to provide top quality DApps to QuarkChain, and to launch collaborative mining. All these projects, if carried out, would unlock tremendous value for the trusted QKC communities.
The Korea team has grown the Korea market exponentially in under a year. Such accomplishment has resulted in quite a few invitations and requests for collaboration. In conclusion, Kim expressed, “ we need to keep track of business affairs continuously and to maintain good relationships with our business partners. My daily schedule can be quite hectic or termed in a better way, motivating. ”
Korean Blockchain Development：A Mix of Anticipation and Doubts
When talking about the present status of blockchain development in Korea, Kim describes the situation as “a mix of anticipation and doubts”.
According to Kim, for traditional giants like Samsung, Facebook, and other large corporations, some are restricted by law regulations and policies. He said, “I believe that such issues precisely acknowledge the room for cryptocurrencies and blockchain industry to grow. So many companies are still at a stage of preparation and they would proceed in tiny steps in order to play safe.”
Kim introduced that policies to regulate Korea blockchain industry have yet to be clearly defined. Under such situation, the growth of the Korea blockchain industry seems viable and but needs to be regulated. “Korea government fully accepts the positive aspects of distributed ledger technologies, but I do not think they are as enthusiastic about cryptocurrencies,” Kim added,
“we have witnessed the announcement from the Korean government to adopt some distributed ledger technologies. Some large corporations are also utilizing distributed ledger, but cryptocurrency remains a relatively sensitive topic.”
There are some unique characteristics of the blockchain industry in Korea. In Kim’s opinion, with a strong advantage in services and games, growth in blockchain projects in Korea will take place mostly at the intersection between blockchain services and games rather than technologically-driven projects such as mainnet. In comparison, China and other regions would focus on those technologically driven projects such as mainnet and middleware.
An Outlook of QuarkChain’s Future：The Inevitable Choice
Victory belongs to one that is compatible with the most number of applications
In Kim’s opinion, the future development of the blockchain industry will start with the gaming industry. “From the Internet era to the mobile era, we have seen how games have anchored mass adoption and monetization,” Kim added, “ many CEO of game companies and I have a common expectation that the blockchain industry will follow a similar path, starting from casual games,” Kim said that based on some data the team obtained, blockchain casual game companies can create more revenue than the traditional casual gaming app companies.
“As such, the game industry is gearing up to enter the blockchain space. Yet, the scalability and throughput of current blockchain technology are not enough to support these highly profitable blockchain games.”
Kim pointed out that many corporations have kickstarted their first blockchain project. However, most of the current enterprise blockchain solutions have an innate problem: one blockchain infrastructure can only support one consensus. He explained in detail,
“Since the infrasturcuture can only support a specific set of smart contracts，transaction models，ledger models , and token economics, it cannot meet the return on investment (ROI) to build the infrastructure in the first place. Such problem has hindered the adoption of traditional industries tremendously. ”
Thanks to its state sharding technology, QuarkChain provides high throughput as well as high flexibility within one infrastructure. Kim said, “So, as the market experiments with blockchain more, I believe QuarkChain will be the inevitable choice for many who are considering to develop blockchain-related businesses.”
Kim experienced a lot of unforgettable moments during the one year with QuarkChain.
“The whole journey was so memorable and will continue to be an unforgettable experience.”
When talking about his future expectations for QuarkChain, Kim wishes QuarkChain would be able to achieve what it was set out to do: to allow everyone to use blockchain technology any time at any place. “Keep the faith and we will walk together,” Kim said confidently.
Jonathan leads the business development and marketing team in Korea. He is an 18-year veteran in BD, strategy, and marketing at NAVER, Samsung, SK, and Hanwha Group. Former CMO of Hanwha Group’s Finch biz.