[News]Lee Jung-han(CEO), “Developing blockchain security technology that will be recognized overseas”

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ReapChain Official

4 min readJul 30, 2021

8 billion won invested in blockchain mainnet development
Focus on improving the essence of security capabilities and data processing speed
“I want to be recognized as a blockchain source technology, not a coin”

“If a Korean software development company goes abroad, they are not ignored, but if they say they run a blockchain company in Korea, they are ignored by foreigners. This is because there were many fraudulent companies during the ICO boom in 2018. LN Venture Group wants to be recognized for its technological prowess beyond its interest in the coin market by focusing on the technological value of blockchain.”

As Bitcoin recently broke through 20 million won per 1 BTC (Bitcoin unit), interest in cryptocurrency is once again garnering attention. As Bitcoin emerges as a digital currency that can replace gold, the value of the coin as an asset is also increasing.

Lee Jung-han, CEO of LN Venture Group, emphasizes that we need to focus on the essence of blockchain technology beyond the economic value of cryptocurrency. It is an explanation that it can open up a new world by using the inherent security function of the blockchain that cannot manipulate data, free from the ICO craze and fraud controversy that caused a stir across the country three years ago.

CEO Lee said, “Korea has been doing a lot of ICOs since 2017, and it can be said that at that time, the blockchain was a backward country. Usually, speculators write a white paper, and when money comes in, they can’t really implement the technology. They created a speculative board and abused it.”

“Overseas, we are trying to fundamentally improve the mainnet operating system, but in Korea, we tried to solve it with services. Now, even if you write a white paper and make a coin, no money comes in. The third generation, which has to be expressed with skill, has begun, and LN Venture Group is also trying to go down a difficult path.”

He first encountered Bitcoin in 2013. At the time, he was making and selling office automation equipment in China, but after learning about Bitcoin, he closed all existing businesses. After returning to Korea, CEO Lee founded Coinvest, which develops blockchain security technology, and YL Solution, which runs REAPpay and offline Ven businesses in the payment business, forming the current LN Venture Group.

The total number of employees is about 60 people. LN Venture Group, which operates only with this representative capital without receiving external investment, is investing 8 billion won in developing one mainnet. All the people around him disapproved, but Lee’s insistence made the current company. When asked if he could live comfortably with his assets without having to start a business, he replied, “I must have challenged it because I was crazy about blockchain.”

CEO Lee said, “It takes 15 seconds to reflect the transaction history between users in Ethereum’s smart contract. During this time, the contents of the agreement cannot be confirmed, so the processing speed of large-scale data needs to be increased. We are developing a dual chain that can process data practically quickly through Reapchain. It will be able to be used in payment and IoT (Internet of Things) businesses.”

The goal of LN Venture Group is to be recognized for its technological prowess abroad. We are trying to take off the negative image that has been overlaid by the coin market craze and go global by developing technology that can be used in real life by staying true to the essence of security.

He said, “Blockchain technology is often misunderstood as a coin market, but it is actually recognized as the only technology that can solve security problems in the era of the 4th industrial revolution around the world. This problem can be solved. We want to create a company that no one can ignore by focusing on original technology development.”