TheBell's latest interview with ICONLOOP is out.
TheBell's latest interview article with ICONLOOP, part of the series [The First Generation of Blockchain Runs Again], has been published.
Corporate demand for blockchain adoption keeps growing, and ICONLOOP is pointing to a new direction with PARAMETA Framework, its own blockchain framework differentiated by interchain technology. Catch up on the latest in the article! :)
- [The First Generation of Blockchain Runs Again]
- ICONLOOP targets the blockchain B2B market with PARAMETA Framework
- (1) Creating revenue beyond government-facing services, sharpening its edge with interchain technology
Editor's note
The virtual asset market has frozen over. But the mood is markedly different from the deep freeze of 2018. Where the entire industry once slumped, blockchain companies are now using the winter as a stepping stone to prepare for the spring ahead. Korea's first-generation blockchain companies are no exception. Each is mapping out new business lines and looking for a second takeoff. We asked them about their plans.
ICONLOOP, a Korean blockchain technology company that had concentrated on B2G projects for public institutions, is expanding into B2B. As corporate demand for blockchain adoption grows, its strategy is to sell those companies its solution, PARAMETA Framework. The pitch: you do not have to develop a blockchain yourself, and even after installation you keep getting support from ICONLOOP.
[Reference] Take a look at ICONLOOP's PARAMETA Framework ▼
ICONLOOP has put the metaverse and non-fungible tokens (NFTs) front and center. When a company builds a metaverse, ICONLOOP says it will supply a mainnet dedicated to that company so the service can run without overload. It is also tackling the scalability problem by making NFTs exchangeable between mainnets.
◇ Built in house from the core up, with game X blockchain synergy in focus
Development of PARAMETA Framework was led by CTO Edward Ryu. Formerly at LG Electronics and Selvas Healthcare, he joined ICONLOOP in October 2018 and went on to take charge of loopchain, the blockchain engine ICONLOOP builds. "The virtual asset boom had already fizzled by the time I joined," Ryu said. "Even so, I moved into this field because I saw it as technology that will lead the next hundred years and beyond."
After four years of development, the ICONLOOP team unveiled PARAMETA Framework. It is a software toolkit that lets anyone build a blockchain mainnet; a simple installation is enough to get a mainnet running.
loopchain, the technology underneath PARAMETA Framework, was developed by ICONLOOP end to end. It supports everything from decentralized identity (DID), a form of MyData, through to the metaverse. Since customers do not all want every mainnet feature, they can package and deploy only the functions they need.
ICONLOOP CTO Edward Ryu
The first field ICONLOOP is going after is gaming, where the push into blockchain and virtual assets has been most pronounced. Globally, Solana and Polygon are among the mainnets drawing attention as the next generation.
PARAMETA Framework sets itself apart from rivals with interchain technology that moves assets between different mainnets. "Once there are many mainnets, something has to connect them," Ryu said. "We are in the final stage of developing technology that links different mainnets such as Ethereum, Solana and Klaytn."
◇ First service HAVAH launches this month, with collaboration open from healthcare and beyond
Until now ICONLOOP has sustained its business by winning blockchain projects from government and public institutions. Going forward it expects PARAMETA Framework to broaden its revenue base. The first case built on PARAMETA Framework is HAVAH, due out in October. HAVAH is a blockchain platform under development by game company 2bytes, aimed at offering gaming, social and financial services alongside an NFT community. The technology in development will also allow NFTs issued on different mainnets to be exchanged.
[Reference] Go to the HAVAH brand site ▼
- HAVAH
- Utilize your NFTs no matter the network, no matter which dapps.
- intro.havah.io
Talks with a healthcare platform are next, and the company expects to grow the PARAMETA Framework customer base to financial firms in time. The grounds for that optimism lie in how corporate attitudes toward blockchain are changing: IT companies that represent Web2 are actively studying decentralized Web3 models. "I see the core of Web3 as users taking direct ownership of data companies used to hold," Ryu explained. "The details differ, but everyone is heading in the same direction."
Source: TheBell, reporter Yunju Roh (October 7, 2022)
Read the full article ▼
Life Meets Blockchain, ICONLOOP