|▲ Gio Tech Holdings / CEO Eunsu Park|
Where have all those ventures gone?
The 3 major communications companies in South Korea declared free use of text messages in 2012. Back then, they charged 30 won ($0.30) per text, 400 won per a photo and a video image never even dreamed of. Why did they have to give up this money making text services? Because a South Korean startup of 4 brilliant idea-driven tech prodigies developed within 2 month an app that has become ‘we cannot live without this app’ today: Kakaotalk.
About 20 years ago, many talented young people boldly jumped into ventures with a dream to bring a new world to the people of South Korea. After about 20 years, talented young people are hard to find but young people who values stability of life more than challenge. Stability of life for many South Koreans means to have a stable job and being a civil servant is regarded as the most stable.
While many young Koreans are pursuing stability, our neighboring country in China, ventures and startups are creating a heat wave and a company like Alibaba is going shoulder to shoulder with Amazon. However, not all is gone and dusted in South Korea. A block chain tech driven venture Gio Tech Holdings is blowing a fresh breeze into a level advanced block domain and web browser market.
Domain market made a big fire with the advent of Yahoo in 1995. It was the point that free domains started to become paid domains. According to the Internet Corporation for Assigned Names and Numbers (ICANN), more than 2 billion domains are in the world at the moment with the market worth 150 trillion won ($126 billion).
The ICANN is a non-profit organization that was handed over the rights from the National Telecommunications and Information Administration (NTIA) when Edward Snowden disclosed the US government’s surveillance of the world through the National Security Agency.
Currently, domains in the world are being managed by 955 route servers in the world with the US, Sweden, Japan and the Netherlands as origin server holders. There are also 955 duplicated servers in the world. About 85% are being managed by the US and South Korea has none of it.
What is domain?
An Internet Protocol (IP) address is made of numbers. A domain is a website that shows a specific IP in English instead of the numbers. The world domain system is run by more than 5 million sub Domain Name Systems (DNS) in the world.
If you want to have your website, you need to buy a domain first with a choice of major domains such as .com, .net and .org or minor domains such as .app, .me and .io. In fact, the domain market is a battle field for getting hold of the best domain names. The US Idealab, for example, bought .tv, the national domain of Tuvala on South Pacific at $50 million.
As for us, the Korea Internet & Security Agency has rights to lend domain through 36 domain sellers. Strange enough though that there are cases of the exactly same domain being sold at different prices without purchasers knowing. Strange still, the yearly holding fee also varies case by case.
Introducing the world’s first ‘block domain exchange’
A South Korean block chain tech driven venture Gio Tech Holdings opened the world’s first ‘block domain exchange’ alongside the release of a blockchain based web browser ‘ALROME’. Eunsu Park, CEO of Gio Tech Holdings, explains:
“What makes ‘block domains’ different from the existing domains is that they shares the value of data for equal and compensate the value of the asset with cash or spot goods. To put it simple, a holder of a block domain creates profit by uploading contents.”
“The more users of the data, the more profits the holder get. The profits are points and the points are used to buy products or exchange with cash through Allgio Coin which is already listed in Coinbit, a major cryptocurrency exchange in South Korea. Allgio block domains use .bp and you can use it forever at one off payment of 140,000 won ($118).”
The industry officials receive this next generation block domain system as to have opened a new era of internet browser to the world.
ALROME is compatible with Explorer, Google Chrome, Naver and Daum. Like many existing internet browsers, you can post things but the difference is that ALROME lets you to make your data valuable, accumulative and profitable. One of the biggest advantages of using ALROME is that it plays an alternative of millions of DNS in the world including around 180,000 in South Korea alone.
“ALROME installed in your smart phone plays as each DNS server and the user who provided server gets compensation accordingly. In other words, all users can benefit at ALROME.”
Data means power and wealth in the future
Gio Tech Holdings recently partnered up with a South Korean electric name card company ID Book. If you send an electric name card through the app, the block domain homepage and the data are transmitted simultaneously and the receivers can have a look at your history. Gio Tech Holdings also signed a business agreement with the World Green Design Organization Korea as the starting point of entering global market.
“Data means power and wealth in the future. Data will serve as the biggest asset and the data trade will be made online no matter where you are and when you are. We are determined to play a frontrunner in the field by making most of our accumulated knowledge, experience and above all passion.”
“Your life is our business”
“Allgio shares knowledge for beautiful world”
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