V SYSTEMS Developer Team Meetup in Seoul
On June 21st, Sunny King’s developer team held its first meetup in Seoul, Korea. The V SYSTEMS meetup event attracted a hundred attendees including senior executives from various exchanges, investment institutions, blockchain development communities, wallets, and media agencies.
During the meetup, Alex Y, the V SYSTEMS CEO, Craig Thornton, the Director of Global Relations, and Jacob Gadikian, the mainnet developer, elaborated on the project background, mainnet development progress as well as the global ecosystem development respectively.
According to Alex, V SYSTEMS launched its mainnet in November last year, and its VSYS coins have now been listed on more than 10 exchanges worldwide, including Bitfinex, ZB, and other coinmarketcap high-ranking exchanges. ZB, ZBG, and BW co-launched the VSYS IEO in March, and over 300,000 people participated. To date, there are tens of thousands of VSYS coin holders globally.
Craig unveiled V SYSTEMS’ plan for the launch of smart contracts in the third quarter of this year and its strategic direction on Decentralized Finance (DeFi) in the ecosystem development. Currently, nearly 20 teams are developing DeFi applications on the V Systems platform. Among them, there are a few listed companies and finance-related internet application development teams that own tens of millions of users across the world. Craig also added that V SYSTEMS would release the first DeFi application in the third quarter of 2019 — a stablecoin with mortgage assets backed, partner with the world-leading real estate group. The first round issue of this stablecoin will hit 1 billion USD, comparing to the total value of the entire Ethereum and EOS DeFi ecosystems only now totaled about US$1.5 billion according to market data.
During the event, Jacob revealed V SYSTEMS’ technology roadmap for rolling out its own model of the decentralized database, sidechain, and cross-chain application development platforms to support the development of more complex DeFi applications in the future.
Last but not least, Alex announced a series of recent partnerships, including Chainlink, which recently put in place for cooperation with Google, Hashkey, Huobi Pool, and Primecoin. He further elaborated that the ecosystem of V SYSTEMS has two realms: 1) ecosystem for stake minting, which includes SuperNodes, miners who hold tokens, as well as wallets, exchanges, and other staking service providers. With the Staking model of V SYSTEMS in place, users who hold tokens can participate in PoS mining without any lock-up periods and thresholds, and they don’t require any IT knowledge; 2) ecosystem for DeFi applications, including teams who conduct joint development with businesses, or those who invest in or support DeFi development teams.
When it comes to the future development of the Korean market, Alex said that Sunny King’s dream is to create a virtual economy era formed by blockchains in the future. As Korea is one of the countries with the most forward-looking blockchain technology directions, V SYSTEMS hopes to provide the Korean market with more DeFi applications with a high-performance platform and participation of different blockchain software development communities in building a variety of applications.
Alex concluded that V SYSTEMS is actively developing communities in Korea, by attracting more partners for DiFi application development and establishing closer cooperation ties with local partners, including exchanges, staking cooperation partners, wallets, and media agencies. It will also launch VSYS on local Korean exchanges at the appropriate time.
About V SYSTEMS
V SYSTEMS is a blockchain database cloud project. Created by Sunny King, father of Proof-of-Stake (PoS), V SYSTEMS is powered by a Supernode Proof-of-Stake (SPoS) consensus mechanism that focuses on the development of DeFi applications in its blockchain ecosystem, covering financial fields such as mortgages, savings, loans, insurance, transactions, and derivatives.
Sunny King is renowned as a legendary blockchain developer and cryptocurrency pioneer. His previous cryptocurrency and blockchain projects — Peercoin and Primecoin were once ranked the top three and top ten cryptocurrencies by market capitalization respectively. Vitalik Buterin, Founder of Ethereum, commented highly on King as the single most original altcoin developer during that time.
