Blockchain Labs Inc.
About Blockchain Labs
BLOCKCHAIN TECH & SERVICE PROVIDER
As the blockchain technology was turning a new chapter with the introduction of the concept of smart contracts, Blockchain Labs Inc. started working on smart contract-based digital asset exchange service in early 2016. Soon, however, we faced clear limitations of the existing blockchain technology at the time to develop something realistic.
The blockchain network had a processing speed far slower compared to the internet, unreasonably expensive blockchain transaction fees, and, most importantly, blockchain's dependency on volatile cryptocurrencies posed as critical hurdles for the technology's mainstream adoption.
For such reasons, many enterprises and public sectors resorted to build their services on private blockchains. However, as this was mostly no different than a close-end distributed database, their approaches didn't make use of the blockchain technology to its full extent, and instead were left with higher cost and slower processing speed. To resolve this issue, Blockchain Labs focused on the following three principles to develop a new blockchain system.
- To develop a new type of blockchain core engine that features both open participation (of permissionless blockchain) and the high performance (of private blockchain)
- To develop a new consensus mechanism that does not involve a use of native (and volatile) cryptocurrency
- To focus on how to minimize the cost of operation by establishing a trust-based infrastructure, and how to best apply the technology in the real world
Following the above principles, Blockchain Labs focused on building InfraBlockchain, which is a suitable and realistic choice for enterprise and public sector adoption of the blockchain technology, and has been working on creating concrete use cases of InfraBlockchain.
CEO, Conrad Um
Blockchain Architect | Engineer at Samsung Electronics | Graduate Course in Electrical and Computer Engineering, Seoul National Univ. | B.B.A. in Business Administration, Seoul National Univ.
I've spent the last few years participating in a global open source blockchain project as a blockchain core engineer, and I realized that it is as important as the development of the technology to figure out how to apply it in the real world. We, at Blockchain Labs, developed InfraBlockchain to answer this question, to become a better infrastructure of how services operate. Instead of talking about how great the blockchain technology can be in the future, we will make one definite change at a time, starting today.
Blockchain Labs History
Sep. | Supplied the blockchain system for RV-sharing service, Seoul Innovation Challenge
Aug. | Selected as the blockchain system supplier for the supply chain of industrial hemp(medical cannabis), Gyeongsangbuk-do
Apr. | Developed the privacy-protecting transaction feature of <InfraBlockchain>
Nov. | Developed <InfraBlockchain>, designed to invite government, public sector adoption of the blockchain technology
Oct. | Supplied the blockchain core technology for artwork stock exchange Godivart Inc.
May | Featured speaker for the topic The Present and Future of Cross-border Entrepreneurship, Stanford University
Feb. | Supplied the blockchain core technology for the eContract service, Comake
Dec. | Supplied the blockchain core technology for the blockchain-based credit card, <Yosemite Card>
May | Consulted on Changhong (Chinese consumer electronics company)'s blockchain-based ad rewards system
Feb. | Co-hosted Blockchain and Venture Capital</> seminar with Cornell University
Dec. | Featured speaker for the topic Blockchain – Cryptocurrency & the Art Market, New York
* Featured speaker at Asia Blockchain Application Congress, Singapore
* Featured speaker at Blockchain Hong Kong: Blockchain & New Business Models, Hong Kong
* Featured speaker at Future Consensus Forum, Seoul, Korea
* Presented the decentralized asset exchange at the BlockchainDay Conference, Seoul, Korea
Oct. | Featured speaker at the seminar Problems with the Cryptocurrency and Their Solutions with the Congress members
* Presented Blockchain Technology: Now and the Future, requested by the Ministry of Economy and Finance, Gov. of Korea
* Presented Hybrid Asset Token Exchange at the San Francisco Blockchain Meetup
May | Developed <YOSEMITE Blockchain>, the first public blockchain without a native cryptocurrency, based on the Proof-of-Transaction consensus mechanism
Apr. | Presented the decentralized artwork exchange Artstock at Ethereum Meetup, Seoul, Korea
Nov. | Developed a digital asset exchange, based on the smart contracts
Aug. | Developed the patented hybrid system to overcome the slow processing speed of public blockchains
If you have any questions or feedback, please contact our InfraBlockchain team via email