“I want to act as an Evangelist in the blockchain industry.”
Kim Byung Gun, who is the CEO of BK medical group and ICO Platform PTE. LTD. revealed that it was his ultimate dream to donate his knowledge and skill to the blockchain industry. An evangelist refers to a person that works as a marketer and engineer in the IT industry.
Kim has been actively going back and forth from Korea to Singapore performing medical surgeries in both countries. He is well known in the stock market as the shareholder of Hugel and was recognized for his investment in Bitcomputer, which he came out with a large profit. However, during the interview he had with the Edaily reporter, he seemed more interested in the new blockchain business that he recently started than his success in investment. It was obvious that he was very enthusiastic and optimistic about the blockchain technology and cryptocurrency. He believed that it will soon change the world.
The following are questions and answers from an interview with Kim.
– How much are you investing in blockchain?
△ I recently created a company called the ICO platform and have been investing in blockchain based companies in Singapore. If I come across any other promising projects in the future, I am willing to invest in them. Even though I didn't invest a large amount of money, I believed that blockchain technology will become widely used in the future, so I wanted to join in on the process.
– Recently, Kim invested $8 million (KRW 8.6 billion) in Finger.
△ Finger is a company that I knew very well and the founder of Finger was a blockchain enthusiast. He was the one that advised and encouraged me to purchase Bitcoin a while back. Finger is a great company with outgoing technical skills, so I was honored to be given the opportunity to invest in the company, which is why I decided to hand over my voting rights to the CEO of Finger.
– How did you find out about the blockchain technology?
– I immigrated to Singapore 10 years ago, Singapore is a financially advanced country and is very open and quick to accept new trends. I was able to meet and talk to a lot of people about the blockchain technology, so I got inspired and came up with a business plan.
– What’s the ICO platform’s business model?
We made a coin called ICC and started the business before getting funded. Making a profit was not a priority for us and our goal was to function as one of the best and most trusted accelerator for startups. I'm not interested in making money, I want to use my experience and knowledge about blockchain and cryptocurrency to help others achieve their goal. With a humble attitude, we plan to support startup companies.
– What differentiates your business from other rising businesses?
When we initially started designing the ICO platform, we were the first company, but now there are other companies emerging with similar ideas. Existing crowdfunding companies such as Kickstarter and Wadiz can be considered our competitor, however, we raise funds utilizing the blockchain, which separates us from them. Also, we want to act as angel investor and accelerator for startups. Since we are already running a business in Singapore, we can provide an most suitable environment for ICO business.
– Any other business in mind?
Let's say I want to create a platform called myown.com. As we live our daily lives, we can't help but use products or services made from another person, however, I wanted to start using them as if they were my own. Companies participating in the Myown.com transparently share the cost structure and provide services or goods, but the stake holders aren't able to make additional profit. It is similar to cooperatives, but with a slight difference. For example, if you provide food at a restaurant at a cost of 3,000 won, everyone that eats there can use it like its their own restaurant. The chief, employee, manager and etc. will receive a cost based salary, but with more customers, they will be paid more. This is to ensure that certain major shareholders and investors aren't able to monetize their profits. The problem is that it is difficult for already existing restaurants to get involved, unless it is a business without an owner. This is why I decided to start by distributing the shares of BK Medical Group to my colleagues and for the past 4 years when I did have 100% of the shares, didn't get paid a single dime. I implement the change in our business model by announcing it to the employees and colleagues.
– We have to talk about the success of stock market investment.
△ I was lucky. I respected and believed in Cho Hyun Jung, the CEO of Bitcomputer, which is why I decided to invest in the company. In addition, Hugel was a company that was founded by two of my colleagues, so I knew that I could trust them. Soon after I had invested, they received a license in Korea and became very successful. I was determined to hold on to my stocks even though eventually, as the company grew, it was bought out by Bain Capital. However, I believed that they will run the company just as well. If I do sell my shares, I think it will be difficult to find a better investment. (He invested 130 million won in Hugel in 2007, earning about 160 billion won)
– What is your plan for the future?
△ When starting a new business, it is challenging to finalize a plan to get started with a new project. I want our platform to be successful so that everyone can benefit from our project. I especially want to play a role in ICO by directing and guiding projects to the right path and act as an Evangelist in the ICO industry.
Source : Edaily
Data : April 09, 2018
Author: Junghun Lee([email protected])
Link : http://www.edaily.co.kr/news/news_detail.asp?newsId=01315286619174480&mediaCodeNo=257