[THE INVESTOR] Hong Kong-based blockchain platform developer Aergo debuted its new blockchain ecosystem project on July 6 in Seoul, with the aim to offer a more secure but easier-to-use blockchain platform that can be better integrated into the business sector.
Blocko, Korea’s No. 1 blockchain technology provider for businesses like Samsung SDS and Hyundai Card, has also joined the project to provide key technologies.
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Despite the high demand for blockchain technologies and their practical benefits, the penetration rate still remains at less than 1 percent across industries. The technologies have proved too complex for individual firms to develop, and even when they complete the technologies, there are security and consistency issues to integrate into their existing IT systems.
The Aergo platform boasts a simple and easy-to-use programming model for developers and allows them to build multiple applications on multiple architectures using serverless cloud computing.
The firm added that the platform has already been tested enough for immediate adoption, being based on Blocko’s integration experiences with big corporate clients. Blocko, established in 2014, is the largest enterprise blockchain company in Korea. Its market share stands at 78 percent with more than 9 million end users.
“We are the first company to have solved these complex problems. This is an easy-to-use platform that any business -- whether it’s small, big, government or public -- can adopt,” said Phil Zamani, Aergo’s chief operating officer.
He stressed the market’s growth potential, saying at least 25 percent of the global top 2,000 companies will use blockchain services as a foundation for digital trust at scale by 2021.
Blocko’s co-founder and CEO Kim Won-beom also expressed their expectations of the new partnership.
“Diverse companies are looking into business opportunities using blockchain technologies. Blocko will support Aergo to build up the most practical blockchain protocol for businesses,” he said.
By Lee Ji-yoon (firstname.lastname@example.org)