Korean Startup theloop: Connected Society with Blockchain

Korean Startup theloop

Korean startup theloop offers private blockchain solutions for a smart connected society.  They are the creators of loopcoin, a new digital currency.  Most Korean companies are looking into incorporating blockchain technology to their business.  Therefore, theloop provides a customized private blockchain solution for companies, mainly in the financial sectors.  In addition, their technology regarding blockchain and smart contracts can make these institutions more productive and lower costs.  Furthermore, those that would like to incorporate blockchain into their system need to contact theloop who have a lot of experience in this field.  Their blockchain prevents hacking which can occur when dealing with digital currencies.

The loopchain platform will benefit various fields such as finance and IoT.  It can support smart contracts based on the BFT (Byzantine Fault Tolerance) algorithm, and it is comprised of multichannel and can perform various tasks simultaneously.

What can theloop offer financial institutions?

  • Certification:  Using blockchain to replace certificate authority.
  • Post Trading:  An accurate settlement system using smart contracts without the use of an agency.
  • Trading:  Real-time trade matching and instant settlement.

What can theloop offer medical institutions and insurers?

  • Certification:  Integrated authentication service using blockchain technologies.
  • Contract:  Automatic contract services based on smart contract.
  • Claim:  Insurance claim automation service based on smart contract.
  • Payments:  Insurance payment service based on smart contract.

This blockchain ecosystem will grow as it gains momentum.  Furthermore, theloop is developing a new digital currency platform.  It is aimed to build a digital currency society within any regulatory framework.  They are currently looking to expand to Universities all across Seoul. They are also partnered with Coinone which is the 3rd largest cryptocurrency exchange in Korea after Korbit & Bithumb.

John Yoon

John Yoon is the Editor in Chief at Startup Radar, Organizer for Startup Festival 2017, Head of Operations Korea at EOS Asia and the Global Marketing Director for Foresting.io. Email = john@startupradar.asia if you are interested in guest contributing and helping the Korean startup ecosystem. Wechat, Kakao, and Line user ID is jswy315

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