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ChainFlix — Interview with Jeong-seok Oh

Jeong-seok, can you give us a quick introduction to your background? How did you get where you are today?

Nice to meet you, I am Jeong-seok Oh, the CEO and founder of Jampick. Jampick is a software development company based in Seoul, Korea. Since establishment in 2013, we’ve developed three different genres of mobile games and two service applications. Personally, for the past 23 years, I have been working in different companies and businesses to work on extremely challenging projects which gave me an opportunity to explore and understand all aspects of an online business.

What about your leading role in the mobile platform service of Kia Motors in 2012? What was the most valuable lesson that you have learned while working there?

In 2012, I worked for, a well-known company for application framework solutions with focus areas on automotive, IPTV, and mobile SW & cloud app services. I was responsible for providing proactive senior-level business development using their distinct solutions. That’s when I proposed to KIA motors to develop a mobile-based launcher application targeting KIA automobile drivers with customized mobile services. During that project, I’ve learned how to approach designing novel services based on customer review data and reducing project risk by expediting decision-making and eliminating potential missteps for critical delays of the project.

If you could write your own job description today, what would it say? What key job functions are you most passionate about?

A team leader and project manager. When a project starts, I have to carefully plan all the tasks to take place under the project. Then, I have to define the scope of the project and formulate procedures to achieve our goals in an efficient and effective manner. The planning, management, and accomplishment are the key areas where I am most passionate about.

Can you tell us more about the founding JamPick in 2013?

I was having a solid career path and having worked with six different companies with different roles, I wanted to work to fulfill my personal vision and philosophy. During my time at different companies, I always focused on the best results, but deep inside I wanted to follow my own passion. This is how JamPick was founded.

How did JamPick, a company specializing in mobile game development jump into blockchain development?

A couple of years ago, I helped out one of my close friends struggling with a blockchain project. This was how I got to know more about blockchain technology. After familiarizing myself with the technology, I realized the potential impacts this technology would have on our life. I then started researching on which industry blockchain can begin a revolution. With careful research and analysis, the video-sharing industry was the perfect fit for blockchain implementation. This was the start of the ChainFlix project.

What about your personal insights on the blockchain industry?

Blockchain is still quite new to the general public, but enthusiasts already have heard about the benefits of the technology. Blockchain provides unparalleled levels of transparency and security through smart contracts. Already we are noticing creative and revolutionary implementations on different industries such as healthcare, supply chain management, and more. In most cases, blockchain is an alternative solution to pre-existing solutions. In the near future, blockchain will affect almost every aspect of our life.

So, ChainFlix is a decentralized, Peer-to-Peer, video sharing platform that you believe will disrupt and revolutionize how we share videos. Can you explain to us how ChainFlix works?

ChainFlix is a complete user-centric, decentralized video sharing platform. Until now, video-sharing platforms have used their centralized storage to store and stream videos. Those platforms struggle with astronomical operational costs and do not give any rewards to their most valuable participant, the viewer. However, ChainFlix utilizes individual, enterprise storages within a distributed storage pool instead of a centralized storage system. This allows us to significantly reduce operational costs and create a user-centric platform. Within the platform though, CFX coins are the fuel to the ecosystem. When users simply watch videos, they are able to mine CFX coins. The mining distribution, however, is upon the creator’s discretion. Creators can distribute mined coins between themselves, viewers, and storage providers at a customizable distribution ratio. While this may sound complicated, it’s quite easy. Mine CFX by taking different roles in the ecosystem.

Who is the ChainFlix’s ideal user and how does the company currently approach them? Where can potential users find you?

ChainFlix is designed for everyone who enjoys watching videos online. However, our ideal user would be someone who truly supports the need for a user-centric platform. Creators who wish to have independence in income generation and viewers who wish to receive rewards for their time would enjoy ChainFlix even more. Also, blockchain enthusiasts would appreciate and understand our platform on a deeper level.

It will never be hard to find us. We will continue promoting our platform online and offline.

ChainFlix at Creators’ Live Festival

What is the biggest difference and strength of ChainFlix compared to other platforms and blockchain projects?

There have been attempts within the blockchain industry to utilize user’s individual storages for decentralized storage systems. However, most projects end up providing a torrent-like system without significant benefits to the users. Thus, in that state, live streaming of videos is practically impossible. Eventually, projects will decide to use a centralized platform architecture with cryptocurrencies as a means of rewards. Our philosophy is to have a genuine, decentralized platform that utilizes blockchain technology. The coin (token) itself should only be a fuel to the ecosystem, not the center of the attention.

We’re able to achieve our philosophy through our innovative AI-based storage controller, which manages the distributed storage pool to stream videos. Besides this technological feature, our project is focusing on simplicity and user experience. There are no additional plugins, gears, or actions required to receive rewards. On ChainFlix, users can simply watch videos on their favorite devices to mine CFX coins. These features are our competitive advantages compared to other blockchain projects and platforms.

Lastly, we also do not require users to sign up and watch videos on our platform. Only if you wish to mine CFX coins, you are required for registration.

What are your goals with ChainFlix and how do you plan to achieve them?

With the ChainFlix project, we want to revolutionize the video-sharing industry. Our technological breakthrough can help us achieve this goal. There are two key issues in this market, the disparity in revenue sharing and growing maintenance costs. Based on our experience in the gaming industry, such disparities will hinder industrial growth. As explained earlier, ChainFlix is ready to fix these issues within our platform.

ChainFlix CEO at Hashnet Blockchain Conference

Is there anything that you guys are particularly excited about that is on your roadmap?

Definitely, we are most excited about our official launch of the platform. Until the grand launch, we will continue to improve our platform through additional features. For instance, we are also preparing a live streaming option for creators, and viewers can donate for contents using CFX coins. Also, we will have content enhancement options, where users can earn CFX coins by assisting with translations, video edits, or adding value to the video. In the near future, we will also open a marketplace where users can purchase products and services from advertisers and creators with CFX coins.

Who are your partners and who would you like to partner with in the future?

Currently, we have partners within and outside of the blockchain industry. For instance, we have partnerships with DecenterNet, a decentralized internet infrastructure platform, and Hiblocks, a blockchain-based social media curation platform. We also have partnered with multiple news providers in Korea and other countries.

We are also looking forward to forming partnerships globally. Currently, we are in talks with HTV & VTH. They are popular Vietnamese broadcasting companies with rich video contents and also are the developers of ‘Zalo’. Zalo is a Vietnamese messaging application with over 100 million downloads on Google Play store.

In the near future, we are also keen on partnering with prominent media companies and cryptocurrency exchanges. We want to focus on partnerships that will help users have a seamless experience of watching rich video contents, trading CFX coins, and more.

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