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The exclusive Blockcast.cc interview segment speaks to selected blockchain leaders, experts and practitioners weekly. This round, Jenny Zheng interviews Jess Eun, of OGQ. Enjoy this segment 🙂
Blockcast.cc: Today we have Jess Eun, Blockchain Business Developer of OCQ with us. Tell us more about yourself. What you have done before OGQ, your education background, hobbies and anything you can share.
Jess: Right before OGQ, I was working for KIEP at its Beijing office while writing my graduate thesis for the doctoral degree at UIBE. I suppose my initial access to the ideas regarding digital content market and copyright protection was inspired by my advisory professor. She has guided me to a variety of ideas related to copyright distribution and market platform for digital contents and intellectual properties.
As my interest in digital content market grows, I made my first connection with OGQ when I worked in a Global Market Team as a part-time role at the NewBornTown, Beijing China[ A company who launched the Solo Launcher.]. I was working on the soft branding and business relation expansion in US area. OGQ was one of our close partners for content and traffic provision.
I studied Chinese Economics and Trade for bachelor’s degree, Global Macro-Finance for the master’s, and Global Trade for the doctor’s. I haven’t achieved my doctor’s degree yet, leaving the graduate thesis defence up ahead. Sometimes, I do think that I should leave some of my ongoing tasks away and get back to my thesis asap!
But I like what I am doing, and I am also confident about the accomplishments that OGQ and I make through our efforts.
Many people say that I am addicted to reading, especially on my smartphone. I agree on that, I read, basically watching smartphone, all the time except when I am driving, working, and sleeping.
I love reading books, articles, magazines, papers, and etc. of various genres, ranging from Sci-fi to classic European novels, and from economics to biology.
Blockcast.cc: What is your role in OGQ? What excites you most in OGQ?
My position at OGQ is the blockchain business developer(also the blockchain leader).I designed the blockchain framework for our whole business and services. I also packed up possible business models as OGQ did blockchain adaption, with which I have also written our Blockchain White Paper(link). I love doing business development from inside and out. Internally, I enjoy brainstorming with teams that are not familiar with blockchain and crypto-economic schemes; and I love walking out of the office to communicate and negotiate with different business partners for new inspirations. The best thing about this role is that I like it and I am doing something meaningful.
I am managing a copyright protection and distribution-related government project called UCI[ Universal Content Identifier issuance and management project governed by the Korean Copyright Council. This project is run by designated firms and institutes. OGQ is one of it.]. Government and Academics within the project agree that OGQ’s application of blockchain can greatly accelerate the development of the project aiming for more effective and securer digital asset management.
As for crypto business, we are working on developing an actual service focusing on user experience, which is essential in a digital service platform.
We can name many that we should care more about before considering the usage of the cryptocurrency.
For example, we have to face and admit that the current way of adapting crypto payment is chaotic compared to existing PG services.
As OGQ uses Npay(Naver Payment) for market payment module, we have to pay a certain amount of PG fee. It is necessary because they provide us with a simple but effective UI/UX that most of the Korean users are familiar with.
But if OGQ adapts Cryptocurrency payment? We are going to face at least two issues that cannot be ignored. Oh the regulation issue is not even considered here.
1.Unwanted UX extension or satisfaction issue
To be more specific, as crypto-industry shall be aware that our service level threshold caused by crypto-usage-experience[ A Service Platform, Node Wallet, and Crypto Exchange must be included in order for the client to make the payment, and sellers to cash out.] related matters are the biggest problem for real-world usage. Think about it, if the user has to pay twice more effort to use crypto in replacement of existing fiat payment UX, only a few will take the inefficient opportunity cost. This is rather a public acknowledgement from the case study of the Meta Mask and the Crypto Kitty.
Our customers, or users, are enjoying and used to no more than 4 clicks for payment action using existing PG ways. If crypto payment cannot meet this requirement or level of satisfaction, there won’t be a chance for crypted transaction to replace existing industry standard.
2. low efficiency in business consideration
If crypto way of cash-out, payment, and the settlement requires more effort in time and money spendings, there is no reason for us to consider the replacement of the existing methodology. There should be a betterment to change the industry standard, but due to many issues, such as regulation or various party’s engagement, we are facing a significant inefficiency.
Since OGQ has great business practice history and well-constructed business models already, we should carefully consider a rational approach to adopt crypto-economics.
I believe in a business service manner, the concept of a token reward for active and royal users and staking opportunities for these users to grant better service or financial betterment is where blockchain and cryptocurrency can be more effective and fun.
Blockcast.cc: We understand that you had your master’s and doctor’s degrees in China. How was your life there? How is that experience affected your life?
Jess: My experience in Beijing means a lot to me. As mentioned before, I became interested in the digital content market and intellectual property issues when I was studying for my doctoral degree.
Moreover, my language proficiency in Chinese has grown a lot during that period. In the blockchain industry, China is one of the key players in terms of liquidity and technology. This is one of my advantage that I have achieved during my stay in China. I sincerely appreciate it.
I’ve also learned consultancy, business ethics, and more importantly respecting different culture and ethics, which is an important lesson for a company that wants to do business localization.
I guess, like the American Dream, the Chinese Dream is up ahead, and people should pay more attention to it.
Blockcast.cc: You have seen ups and downs in the crypto market. What is your happiest and saddest moment?
Jess: (Slight Laugh)
I personally have experienced the crypto ups and downs. So I am pretty sure that my understanding and feelings are practical enough. My happiest moment regarding the crypto industry is when I find out a project works out and meet the demand of the market. Like the case of South America, people have been concerned for long about their fiat. However, the fact that many projects are working on the solution shows a bright side of the blockchain industry.
I am sad when some projects or businesses only focus on investment and financing. I know and admit that this is a surviving issue to the company, but this behaviour could also hurt the entire industry losing creditability. I hope companies and teams who sincerely develop blockchain and crypto schemes should be recognized more often and fairly treated.
Blockcast.cc: The blockchain and crypto market has been changing. What do you want to see in the near future for this industry(especially the Korean market)?
Jess: Again, I wish that all the projects that we observe can focus on practical things, not only the dreams but something that really can happen and meet the current demands of the market and industry.
Regarding Korea, I think that Korea has the potential to become a heaven for Crypto-business regulatorily and financially (my wish, lol), since Korea has always been positioned as an IT advanced nation.
Let’s see how things work out.
Blockcast.cc: How do you view the crypto regulations for South Korea?
Jess: I think Korea is relatively conservative regarding the regulation part. I know many industry leaders of blockchain and cryptocurrency are working hard to make progress regarding regulation. I expect to see concrete actions that can support not only OGQ but also the whole players in this industry in Korea.
I am optimistic that Korea at least won’t be a leftover(slow and low level) player in this industry.
Blockcast.cc: Share with us an inspiring quote for our readers. Eg “I believe in blockchain, it can change the world.”
Jess: (Laugh out loud) I am not sure that I have any qualification or reputation to leave a quote for the beloved readers and industry leaders. All I want to say is that “Let us be more practical, and face the real-world demand. Don’t underestimate nor ignore the reality. Let’s face it!”
The idea of the distributed ledger and crypto-currency is threatening the roles of existing industry and its players(in terms of traditional firms).
I believe the rise of blockchain and crypto-currency is a rather rebellious challenge to all of the existing industry players.
Simply the idea of decentralization itself is very rebellious already. (Laugh out loud)
I like it though. Hahaha
Blockcast.cc: Is there anything you want to share with our readers here? Tell us anything 🙂
Jess: First of all, I sincerely appreciate Jenny and The Blockcast to give an opportunity for me to share some thoughts.
Secondly, as an economist, business developer and a consultant, I really want to say that the blockchain way of thinking is very compelling but sometimes lacks reality. I wish this optimistic and brilliant industry can meet the reality to embed something that is practical and can satisfy all the human being in any industry.
Finally, I want to declare that I have no offence and prejudice against any projects and colleagues in the industry. I believe in collective intelligence and the power of brainstorm. I hope this opportunity(the interview) can not only provide me with the opportunity to broaden my network, but also help out anyone with similar concerns.
Blockcast.cc: Thank you Jess, thank you for your time and sharing on this session! Look forward to see progress on OGQ and all the best!
Jess: Thank you.