theloop to Host 'LOOP-ONE' Blockchain Conference
In the first part of the conference, theloop CEO JH Kim will give a talk on the background to blockchain development under the theme "Blockchain: Hyperconnect the world," followed by sessions in which participants will take part in hands-on blockchain network development. The second part will feature an in-depth discussion on operating a blockchain platform, open only to invited financial industry experts.
Founded in 2016, theloop recruited top-tier blockchain engineers and independently developed an enterprise blockchain engine called loopchain. Not only is it the first of its kind in Korea, it is also technically comparable to the open source engines used in global blockchain projects such as R3 Corda and Hyperledger Fabric. Built on a proprietary modular architecture, it is a customizable blockchain solution that can be optimized for a wide range of environments — from financial operations such as authentication, clearing, and trading to non-financial applications including IoT.
Recognition of those strengths and that technical capability has allowed theloop to build Korea's largest consortia across a variety of fields, including the financial investment industry, insurance, and healthcare. In the case of the financial investment industry consortium in particular, the technology has been applied to a joint authentication service for 25 securities firms, which is due to launch shortly. It is the first case in Korea of blockchain technology applied to an actual working environment, and the company is also pursuing applications tailored to user needs in areas such as financial transactions and digital currency.
"Following the successful independent development of our blockchain engine last year, we are growing rapidly — building Korea's largest blockchain consortia in each field on the strength of a flexible engine architecture that can meet diverse business requirements," said theloop CEO JH Kim. "We hope this conference will bring theloop a step closer to users and be of real, practical help in applying the technology to their work."
This year theloop was selected as a technology provider for the Promising Open Source Software Technology Development Support Program administered by the National IT Industry Promotion Agency (NIPA), and it plans to begin an open source project in earnest in the second half of the year on the basis of its existing blockchain platform. The event is expected to serve as a forum for sharing theloop's open source strategy and for communication aimed at energizing the blockchain ecosystem.
###