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Coinone 'Coinone Blocks' Opening Press Conference

ACROFAN=Yong-Man Kwon | Published : Monday, October 30, 2017, 6:37 pm
Coinone, a virtual currency exchange, held an opening press conference of 4D zone 'Coinone Blocks' that provides blockchain-based financial services including virtual currency offline, in Yeouido, Seoul. Coinone Blocks, located in S-Trenue Building in Yeouido, Seoul, is a space where the needs of customers who want to solve their questions about virtual currency and experience it directly are met.

Coinone Blocks is organized as a space that provides all the services of Coinone on-line in the same way offline. It enables customers to experience and use virtual currency information, expert consultation, and transaction through ATM of virtual currency. In addition, Coinone Blocks represents '4D Zone' where customers can see, touch, communicate and experience, and it will be a chance to provide more reliable service to customers based on a safe and transparent offline system.

In Coinone Blocks, customers can view six types of virtual currency information exchangeable from Coinone through a large billboard, and they can solve questions about virtual currency exchange by consulting with expert advisors. Moreover, experience and purchase of hard wallet, which is a virtual currency wallet of USB type, and bitcoin exchange through ATM are possible. In addition, the expert of pin-tech based on blockchain is available to consult about related technologies and policies, and the future of blockchain-based finance. Besides, it is announced that Coinone will increase its Coinone Blocks strategically in the future.

 
▲ Cha Myung-hoon, CEO of Coinone

 
▲ Coinone’s business consists of two axis: a virtual currency exchange platform and an overseas remittance service

Cha Myung-hoon, CEO of Coinone, defined Coinone as "a company that creates future finance based on blockchains", and stated that, since its establishment in 2014, the company has been moving away from pin-tech start-ups and toward the center of global finance. It is also said that the company will provide innovative service to customers by extending the range of service from virtual currency exchange to financial services. Currently, Coinone offers the exchange platform for 6 virtual currencies, a blockchain technology research team, and overseas remittance services for five major Asian countries, and it is in progress of acquiring a small overseas remittance license.

Currently, Coinone has a daily exchanging volume of about 300 billion won, which is the fifth largest exchanging volume in the virtual currency market. As Coinone's oriented values, 'market leading', 'customer focused' and 'social responsibility' are mentioned. In addition to its role as a trading platform for virtual currencies, it is contributing to the positive ecosystem growth by providing consulting services that can trace the flow of virtual currency and helping investors make the right investment with offering investment statements when the virtual currency’s exchange goes public.

As for the domestic virtual currency market, it is said that it is experiencing growing pains due to rapid growth. Moreover, as consumers’ interests increase, new requirements such as 'lack of information', 'trust' and 'service' are being created. Especially, in terms of 'lack of information', difficulty of accessing due to high technical complexity, difficulty of selecting reliable information, and the lack of contact with experts are mentioned. In terms of trust and service, there were requests for face-to-face counter regarding limitation of online service, customers’ availability, reliability and other factors.

 
▲ These meanings were considered to Coinone's offline brand, 'Coinone Blocks'.

 
▲ In the lounge where the round-table conference was held, it was possible to check the real-time price with the large billboard.

 
▲ ATM was prepared as the closest point of contact between traditional financial exchange and virtual currency exchange.

 
▲ There was space to experience hardware wallet products.

Coinone Blocks is a space that meets the needs of customers who want to experience and solve questions related to virtual currency that is invisible, and it represents '4D Zone' where customers can see, touch, communicate and experience. It is also introduced that Coinone Blocks is space for offering service that is more reliable to customers based on a safe and transparent offline system. Coinone plans to operate 'Coinone Blocks' as a face-to-face offline customer service counter with a goal of establishing a user-friendly virtual currency ecosystem. It consists of a community space that shares a variety of information and a space that can easily experience virtual currency, which is an intangible asset.

At the lounge of Coinone Blocks, customers can view six types of virtual currency information exchangeable from Coinone including bitcoin and ethereum through a large billboard, and they can get recent information in investment statement, etc. In addition, they can solve questions about virtual currency exchange by consulting with expert advisors, and the expert of pin-tech based on blockchain is available to in-depth consult about related technologies and policies, and the future of blockchain-based finance. At the same time, it is added that various community activities through the open lounge or conference room.

There is also a space where you can experience the circulation of virtual currency, etc. At present, there is an ATM that can exchange bitcoins and others. Also, in the space where the virtual currency related product is sold, there is now a space where users can experience and buy USB-type virtual currency wallet, 'hard wallet'. Coinone plans to increase its Coinone Blocks in the future and wants to diversify them as customer communication and branding channels.

In terms of security throughout the system, the available security-related technologies are applied the most. The company also supports safe use through hardware wallets, and insurance for damage by hacking or others to virtual currency exchanges is also made. Moreover, according to the presentation, it is understood that regulatory issues related to financial authorities are about the provision of qualification guidelines for service providers, and the company will cooperate and strive for the positive formation of related ecosystems in the future.

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