⚠️ On March 31st 2019, TTC Foundation launched its own blockchain solution, TTC, and rebranded TTC Protocol as Acorn Protocol. This article was announced before the separation. [Read more]
TTC Protocol — Invited to BitMax Meetup in Shanghai
On November 24th, an international Blockchain meetup co-hosted by BitMax and Block72 was held at the Singapore Development Bank, Pudong Branch, located in Shanghai.
Over a hundred industry experts from the blockchain and retail investment field gathered to discuss the current state and future of the Blockchain and Crypto industry. Individuals from Cova, Lambda, Sequoia China, etc. had participated; and, along with many prominent figures, Brian Cheong, CEO of TTC Protocol was invited for a keynote speech and panel discussion.
As TTC Protocol recently announced partnerships with Key social networking services in Korea, many questions were asked regarding the Korean crypto market.
Here are the questions and answers which Brian gave that portrays what TTC Protocol is attempting to achieve and how it will do so.
Q1. Why did you make the Korean Market the testbed for TTC Protocol?
Social networking services and blockchain services have an overlapping aspect, which is the fact that the “Network Effect” plays a key role in determining its success or failure. If one considers from that point of view, one would realize that a high user density is crucial for success. The Korean market has both high user density and an environment fit for maximizing the “Network Effect.” Simply put, there are two main reasons to why the Korean market was selected for our testbed:
1) Korea has an environment where trends and information rapidly spreads out due to high population density, college entrance rate, and mobile/internet penetration rate.
2) Koreans are relatively knowledgeable of Cryptocurrencies and an extremely large proportion of the population holds cryptocurrencies and/or have experience in trading them.
Though TTC Protocol’s testbed is Korea, our team is putting in great effort to accelerate the globalization of TTC Protocol. TTC Protocol will continuously form partnerships with various social services which have a high user density. Also, the next part of the globe we target to expand into is the SEA market. Currently, we are focusing our efforts in expanding into the Vietnamese and Indonesian community to further penetrate the market.
Q2. Most social services focus on developing their own DAPPs, but why is TTC Protocol focusing on becoming a Protocol/Platform?
Most projects focus on developing DAPPs, a single service. However, by doing so, it is quite difficult to grow simultaneously in multiple countries. Also, triggering a “Network Effect” would not be easy as well if we were to develop our own service. Thus, TTC Protocol came to a conclusion that partnering and growing together with existing services to form an ecosystem is a much effective and efficient method. We believe that the formation of a transparent blockchain based TTC Ecosystem will bring about a much powerful “Network Effect.” Since the release of the TTC SDK, which will allow an easy integration of TTC Protocol into any social service, our team has been focusing on perfecting such tools and growing our ecosystem.
If you have any questions, reach us through our telegram channel and official email. We will continuously share updates and progress to the community. Once again, thank you for your support and interest in TTC Protocol.
— TTC Protocol
Bug Bounty Program
To better the TTC Protocol experience and improve its ecosystem, code enthusiasts are invited to join our community. Each individuals’ contribution will become part of a change which will impact billions.
Bug Bounty : https://hackenproof.com/ttc/ttc-protocol
Github : https://github.com/TTCECO/gttc
