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[INTERVIEW] CEO ponders blockchain dilemma

2018-02-26
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Here is a potential murderer. But he has business potential and will be able to earn a lot of money for us in the future. What should we do? Should we imprison him to prevent him from going on a killing spree or should we let him make a fortune for us at the expense of several lives?

This is an analogy that Glosfer founder and CEO Kim Tae-won came up with regarding blockchain, the base technology for digital currencies such as bitcoin. He regards blockchain as a future growth engine but worries about its negative short-term impact, which is something like gambling.

“If I am in charge, I would put the potential murderer in jail. We have no choice but to do so at a time when transactions of cryptocurrencies go like gambling here. Ethics should come first before business,” said Kim who established the blockchain company in 2015.

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GLOSFER says blockchain will be used to solve social problems this year.

2018-02-22
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“While last year was the year of Bitcoin, this year would be the year of the blockchain. Blockchain technologies will be applied in our daily life and will greatly affect our life.”

Kim said, “Bitcoin has played an important role in increasing interest in the blockchain. Only when blockchain technologies are used in and have an impact on real life, can they be applied to all industries. That means blockchain technologies can contribute to forming a fairer and juster society.”

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GLOSFER CEO Taewon Kim, “Looking at my sister, who is a singer, I realized the necessity of developing blockchain.”

2018-02-22
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GLOSFER CEO Taewon Kim said blockchain is a righteous technology, which can prevent moral hazard.

Kim has been seeing his sister, a creator, suffering from copyright infringement. That is one of the reasons for him to apply blockchain technologies to make sure that copyright holders do not lose their profits in the form of commissions when music is distributed. “A platform of directly distributing music based on blockchain can help protect copyright holder’s rights,” said Kim. “This way, creators get the profits they deserve thereby creating quality content

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GLOSFER Presents The Advancement of Local Currency by Blockchain

2018-02-21
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Nowon-gu, one of the districts in Seoul, becomes the first in the world to implement the system of local currency based on blockchain on January 31st.

The name of the currency is NW which stands for Nowon. 1NW is valued at 1 Korean Won and one hour of volunteer work worth amounts to 700NW. Residents in Nowon-gu can purchase products and service with the local currency.

The NW, Nowon-gu’s cryptocurrency, was developed by GLOSFER, which was established in 2013. GLOSFER believes that the NW can provide an opportunity to let people know the cases of blockchain being used in a good way.

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“We Will Make Blockchain Killer Content for the Public”

2018-02-12
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“Nobody knew anything about Bitcoin back then, much less blockchain.”

Taewon Kim, CEO of the first-generation blockchain company, GLOSFER, reminisced about 2013. It was the year he entered the blockchain industry. He and four of his colleagues started a company in an apartment near a police station in Osan of Gyeonggi Province. “[I] bet my life on blockchain,” Kim said. The technology was very new at the time, and few showed interest in the space.

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