Aston Company Called For ICO Standardization and Investors’ Responsibility
Aston Company - decentralized document authentication and distribution platform based in South Korea - called for ICO standardization and investors’ responsibility at BlockShow Asia 2017.
It’s been several weeks since BlockShow Asia 2017, but the buzz around the event still goes on and we still have something to tell you. Today we would like to speak about one company which, at first glance, was just another successful Blockchain project from Asia, but in reality played a much bigger part during the conference.
The thing is the Aston project represented the country, which is often being unfairly forgotten in the context of the Asian Blockchain ecosystem - South Korea. However, after chatting with Connor Tack head of sales at Aston, it became clear that the company itself saw this as one of the main purposes for joining BlockShow Asia 2017:
“First of all, as we consider ourselves as the leader in Blockchain industry in South Korea, we wanted to stimulate and trigger Korean companies to join the global market. We wanted to show that our technologies are at the same page or beyond to the western world.”
Disrupting document distribution
But let’s first add some context and get a closer look at the Aston company itself. Aston is a decentralized document authentication and distribution platform based in South Korea. The main unique feature of Aston is that the company replaces linear Blockchains with so-called X-Chain, a new Blockchain technology and multi-dimensional structure that exists alongside the standard linear Blockchain.
That’s how Connor Tack explains Aston:
“We seek to replace and automate all the documents that are issued by trusted third parties like hospitals, <...> or banks, schools and governments.”
One of the many indicators of the fact that Aston became a good support and adding for BlockShow Asia 2017 became the commentary from Connor Tack, expressing his own opinion about the main mission of the conference - eliminating borders and bringing together the Western and Eastern parts of the global Blockchain ecosystem. Connor shared his vision:
“In contrary to the proliferating Western market, the Eastern market is slowing down due to the regulations raised in influential countries. Only Сhina itself could enlarge the Blockchain industry to the size of the western market, its absence influenced several countries nearby. South Korea is now regulating the crypto-exchanges and the narrow-minded banks are not being collaborative since cryptocurrencies seemed to be the competitor to the fiat currencies. We knew that financial industry is conservative, but never knew they would impede on such huge market from materializing as a legit business. As always it has been, Korean government awaits for the US and China to fully legalize this industry including ICO to start to embrace it. Therefore, we need a better connection between Eastern and the Western Blockchain scenes.”
How to avoid ICO frauds - an insight from Aston
On the second day of BlockShow Asia 2017, Connor Tack stepped in as one of the speakers, presenting in the very first, morning part of the event. His speech was dedicated to one of the hottest topics of today’s Blockchain ecosystem: the ICO sector and how to avoid any frauds in this field. Connor himself spoke about his presentation as of one of the main purposes of taking part in BlockShow Asia, stating that “it is our duty to protect our ICO, Blockchain ecosystem from the frauds.” Later, speaking with the Cointelegraph reporters, Connor explained his vision in greater detail:
“...I wanted to spread the word that it is our duty to protect our ICO, Blockchain ecosystem from the frauds. If we keep asking questions to those ICOs, we will be able to standardize and enhance the ability to distinguish the scams. Resulting in a sanctum of ICOs where no frauds are allowed.”
It was obvious that Connor’s presentation was his very own attempt to encourage the community to the thorough selection of ICOs before the actual investment in any project. He listed and explained, in particular, all the ways of self-analysis of the ICO, as well as some points one should always pay attention to. Finalizing his speech, he made a brief summary and repeated his main idea once again:
“We should keep asking questions to those ICO projects, so we can prevent corruption and frauds from coming to corrupt this ecosystem. Please spread the word and help us save our ICOs.”
Connor Tack finished his presentation on a rather positive note. He happily announced that Aston just signed an exclusive contract with 4CGate, a leading innovative IT service solution provider for the service activity automation in various fields including education, government, healthcare and many more. The basis of this cooperation seems to be Aston’s Blockchain-based medical proof service, which is currently being test run with two major hospitals in South Korea. During this announcement, Connor shared the following numbers - 4CGate is currently running in over 90 major hospitals in Korea with 180,000 patients daily, which, according to Aston’s predictions, will lead to 6.5 mln documents processed by Aston on a monthly basis.
The last thing Connor shared with Cointelegraph was the Aston plans for the rest of 2017 and beginning of 2018. Thus, at the end of January Aston is planning to close its crowdsale (which, by the way, goes on right now). Besides, the company’s ATC token will be soon listed in major exchanges consecutively starting with Coinlink. Finally, the development of the company’s unique concept, the X-Chain and its tools will be commenced in the Q1 2018 as well.