Future is in Leaving Trusted Third Party Documents Behind

Cointelegraph spoke to many industry pioneers at the BlockShow 2017. We continue our efforts to keep you updated on who our guests were, what they’re currently working on, and how are they planning to put a dent in this always-evolving Blockchain industry.

This time we spoke with Kiyoung Tack, Head of Sales at Aston, a South Korean Blockchain company that is looking to make documents issued by trusted third parties obsolete. Even though he hasn’t been in this industry for a long time, his credentials are definitely suited for his role at Aston.

It goes without saying, the use of smart contracts will be key in implementing such technology. Here’s what Kiyoung said about it:

CT: Could you introduce yourself, sir?

KT: My name is Kiyoung Tack from South Korea. I am working as the Head of Sales in Aston. Aston is a simple decentralized document distribution platform which we set to replace ultimately documents issued by trusted third parties. I’ve been in this industry not so long, but I’ve had connections with Blockchain industry since 2013. I was in college in UC Berkeley. I had been influenced by Blockchainers in Silicon Valley, that’s how I really got into this industry.

CT: When it comes to fiat money, what do you think is the future of money in that sense? Do you think fiat money is going away? Is it going to be replaced by cryptocurrency? How do you see the future of these two?

KT: The relationship between fiat currency and Bitcoin is that fiat currencies will never be replaced by Bitcoin. Bitcoin is a way to connect, the only a way of linking fiat currencies across the globe.

According to Kiyoung, Bitcoin will be replaced by some other coin that has better specs.

“Bitcoin will never replace the fiat currencies. There will be some countries that will replace their fiat currencies by Bitcoin, but I don’t think Bitcoin will replace fiat currencies as a whole.”

CT: I know there’ve been some confrontations on ICOs in South Korea. What do you think is the future of ICOs in South Korea?

KT: South Korea has just banned ICOs in their jurisdiction. The Korean government is waiting for foreign countries, such as the US or China to take the lead in mapping out a policy for ICO before it follows. What Korea does is follow the instructions from the bigger countries. There are small movements to fight against those regulations and there are a lot of Blockchain communities arising. I think the regulations will be partly worn off when it comes to the utilities of the coin. If the coin is not in form of the securities, I think that Korea will let it be just like the US did.

CT: What do you think is the industry that is most in need of this technology, most in need of a whole upheaval renovation?

KT: The CEO of McAfee, Mr. Dave DeWalt said, “There’s one trillion dollars of damage caused by data breach.” In all of those cases, we’ll be joined by the IT industry and the documents, like confidential documents breach by an ordinary company. I might say, any company that has an office is actually good for the Blockchain industry. That’s what I think.

CT: For our subscribers, we have to think of a way to inspire them: what company or technology do you wish existed, but hasn’t really been invented yet or hasn’t gone out.

KT: One second. My dad has been trading for his entire life. He always had headaches with old documents and the manipulation of the documents because they’re not very honest with the documents. There’re people who fraud documents, so I think there should be a Blockchain that records all of the documents incurred from the international trade.


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