Tokyo FinTech
Published in

Tokyo FinTech

Podcast Highlights: David Shin, Klaytn Foundation

We were excited to launch the third season of the eXponential Finance Podcast with David Shin, Head of the Global Group at the Klaytn Foundation.

When Klaytn presented at the Ethereum DevCon in Osaka in October 2019, it was just a few months old, and there were not that many people interested.

That has changed dramatically, and for its perception outside of Korea, its home market, a lot can be attributed to David’s leadership since taking over as Head of Global Adoption in 2021. As David says in this podcast, Klaytn is being talked about for all the right reasons.

Apple Podcasts:

Spotify:

Here are some of the highlights from David’s comments:

  • The barometer I use is the discussions I am having with corporates, especially gaming companies and other large corporates like Dentsu, and they are actually putting their money where their mouth is when it comes to Web3 these days. So I do not think they would do that based on the conservative nature of how the Japanese corporate culture is, unless they felt like that discussions with the regulators and government was moving in a direction where they can take that risk.
  • The thing that is going to take Japan to the next level is taking all that content IP that is onshore, wrapping that up into NFT ownership, and creating distribution channels through the internet, being able to settle that with regulated CBDCs, or regulated stablecoins, which is where I think we’re moving towards.
  • You are building these gaming titles, which are effectively comic books, but you are not really leveraging the comic book distribution channel. And once you do that, then you can also extend that out to collectibles in terms of NF Ts. So there is a wider opportunity commercially, that I do not think the companies are seeing it just yet.
  • With Klaytn, we want to provide you the distribution offshore [from a Japan perspective], whether it is into Korea or other avenues. So for example, one of the largest, fastest growing markets for Webtoon users is not in Asia, it is actually in Europe, France is leading that but in other countries, like Germany the adoption rate for webtoons is also increasing substantially. But also reverse distribution inbound, where there is Korean content, whether it is K-Pop, or Korean dramas, or whatever, and to be able to create opportunities where we can bring that content onshore into Japan, through internet distribution channels.
  • Dynamic NFTs: I think the the interesting part is for things like sports betting, if you have NFT representation on athletes, like LaMelo Ball, who was rookie of the year a couple years ago, launched the very first dynamic NFT asset. And the idea there is that throughout the year, as he is playing all these games, if his three-point percentage increases, then the valuation would change, and the value his dynamic NFT would change. If he gets injured, the dynamic NFT will fall, and all of that will create new abilities and capabilities for sports betting.
  • Decentralized ID: What I prefer is the concept of “Proof of Me”, where the blockchain validates you that you have worked at such and such a place. Take the notion of LinkedIn, all I can do is because Jason introduced us, is assume trust through Jason, because I trust him that you are who you say you are. But what if there is a way for there to be a decentralized way for for me to know that you have been verified and validated without it being Twitter validating you as a central entity and putting the blue checkmarks? What if it is a group of validators in a distributed network that validates you, so I do not have to go and check with all your employers that you are managing director at such and such, like how, imagine that level of trust, very simplistically happening through a “Proof of Me” concept that validates who you are.

For more from David, please turn to the eXponential Finance Podcast on the podcast platform of your choice.

This article is part of our Tokyo FinTech Publication, please follow us to read more from our writers, like hundreds of readers do every day. Please also register for our short weekly digest, published some Saturdays, at the link below.

Should you live in Tokyo, or just pass through, please also join our Tokyo FinTech Meetup. In any case, our YouTube channel and LinkedIn page are there for you as well.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Norbert Gehrke

Passionate about strategy & innovation across Asia. At home in Japan. Connector of people & ideas.