South Korea’s Largest Interchain ICON (ICX) Connects an Ecosystem of Blockchain Communities 13085


ICON has now combined with the public sector and making headline-worthy results regarding its blockchain services that are used in everyday life, but the journey hasn’t always been smooth. As much as ICON has been able to focus on connecting blockchains, it is also a difficult project compared to others. It took a lot of time and the overall cryptocurrency market slump did not help matters. As a result, the decrease in profits added up to the increasing complaints of investors.

The election of P-Rep’s will be a sure moment for iconic ecosystem growth.

The price of the ICX cryptocurrency that had gone up to 72000 won last fall took a nosedive to 200 won this past December. It had decreased by 90% within half a year. There were a lot of criticisms that ICON had put too much focus on maintaining their image of being the ‘blockchain of South Korea’ with little technical results to show for it.

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A worker from ICON admitted they were only “focusing on development and achieved different results but the investors had no idea what was being done,” and regretted “there was a lack of communication”. Establishing interoperability requires time. Additional effort is needed to provide continuous feedback in the process to solve any questions that may arise, instead, ICON remained focused on development.

In fact, ICON had an impressive list of achievements other than its integration within the public sector. They launched their mainnet last quarter and officially started building an industrial ecosystem by releasing ICONest, which will be utilized for ICON based dApp development. In the third quarter, they released public source code, which allowed people to take part in development.

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JH Kim, the CEO of ICONLOOP and Head Director of the foundation.

JH Kim, the CEO Director of ICONLoop and Head Director of the foundation said “ICX Station is a program in Seoul, San Francisco, and Singapore with a global acceleration program (that focuses on startup investment and cultivating talent). This program also focuses on the LoopChain Alliance program with ‘ICX Station’. We plan to find dApp partners specialized in B2B industries.”

Kim said, “The election of ‘P-Rep’s will lead to the creation of blocks and governance decisions for the ICON network, as well as lead to the expansion of various dApp services.” P-Rep’s represent the ICON network and corresponds to the block producers that generate blocks. The election of P-Rep’s will be a sure moment for iconic ecosystem growth.

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Inside LG’s Blockchain and Cryptocurrency Ambitions 1041

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At this moment in time, most of the world’s biggest tech corporations are actively studying blockchain technology, and its implications upon future products and services. LG, the South Korean IT giant is no different, granted that recent reports point towards future blockchain expansion initiatives.

LG announces a blockchain-based food tracking solution

With this in mind, a subsidiary of the conglomerate, LG CNS, recently announced that it will soon introduce food distribution support on top of its Monachain blockchain project. The project, which is the result of a partnership between LG and SayIT, serves the purpose of tracking food that is served on South Korean school cafeterias.

As such, the blockchain-based project will allow for a transparent tracking and fulltime access to details like food production, distribution, processing, acquisition and consumption. It is expected that this will lead to better management of food distributed throughout cafeterias, while also increasing its quality and bringing overall cost savings.

To facilitate this project, collaboration with local governments will be necessary. A full-scale implantation will likely allow for an improvement in student health, since food can be tracked and distributed according to its nutritional values, while taking student needs into account.

LG files patent for crypto-inclusive wallet  

Apart from the food tracking blockchain service, LG has also recently filed a trademark application with the United States Patent and Trademark Office, for an electronic wallet that features cryptocurrency support.

So far, reports indicate that the electronic wallet will include an array of features, including payment settlement services, transaction authorization, digital payments, financing services, digital money issuance, cryptocurrency wallet, and a blockchain-based desktop software platform. It is also believed that LG will integrate artificial intelligence (AI) within this wallet, yet it is not yet known how. Since it is only a patent, it will likely take a while before LG builds it into an actual customer service.

The main purpose of this wallet has not yet been unveiled, but it is always nice to see top-level corporations supporting the digital currency revolution. At this time, LG has not issued any additional comments regarding its food tracking service, and electronic wallet patent.

ICON (ICX) – Whatever Happened to The Korean Ethereum? 6733

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Bitcoiner since $59BittBurger, gives us his take on the current status of the South Korean ICON project. This post is primarily about a solid uptick in community involvement, decentralized marketing, and the token side of things. For the last year and a half we had a pretty uninvolved community, while the company continued to work under the hood to build something huge.

A lot is happening right now. I feel like nobody knows about it.

It’s Happening

A lot is happening right now. I feel like nobody knows about it. It just started. Most of it. So your patience will be appreciated. But I’ve never seen so much proactivity in this project on the token-side of things before.

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  • AMBASSADOR PROGRAM: Over the last handful of weeks, the Ambassador program has begun. This program incentivizes the creation of content to promote ICON across social media and the internet. Several Ambassadors have already put out multiple articles that are getting ranked across Google and Medium, bringing attention to the project.

  • ICONSENSUS P-REPS: The number of ICONSENSUS P-REP candidates has surpassed 40 (there will only be 22 voted in) and ICON is beginning a strong marketing push to attract more teams this month, with the goal of reaching 100. Check out the candidate interviews here.

  • EXPOSURE: Some of these P-REP teams which including RHIZOMEICONation, and Ubik have already begun cranking out content, started YouTube video channels, and scrambling to get ICON on podcasts.

  • PODCASTS: Speaking of Podcasts, several investors have begun reaching out to their contacts at several different podcast and YouTube influencers. The goal is to get ICON team members on for an interview, to talk about the project and get the ICON name in front of tens of thousands of faces (or ears). Ricky and others at ICON have been excited to make themselves available for this, which makes all of us extremely grateful. I will be working to get someone on my friend Chico Crypto‘s YouTube channel soon, and a handful of podcasts are already underway for scheduling.

  • EXCHANGES: This past week, a group formed within the Telegram channel to focus entirely on reaching out to as many new exchanges as possible, and getting ICON listed on them. A Trello has been set up, and we’ve already begun making headway on this incredibly important goal.

  • BINANCE USA LISTING: With the advent of Binance USA, both the ICON team and everyone involved are aggressively pursuing assurance that ICX will be listed on the new exchange for US investors.

  • COINBASE LISTING: The same is being done for ICX being in the next couple rounds of newly added coins on Coinbase. I’ve spoken to team members at ICON who have assured me they’ve been following up on this regularly. Please download their app > Sign in > Click “View all Assets” > Then scroll down and click “Follow” on ICON. This is an important metric for Coinbase to decide what gets added next.

  • HIRING PR COMPANY: Two days ago I managed to connect Ricky Dodds (ICONS Head of Institutional Markets in their San Francisco office) to a close friend of mine who runs the PR company which took Genesis mining from nothing to a $2 Billion valuation, and got them on that 60 minutes episode a few weeks ago about Bitcoin. The mining segment in Iceland was thanks to him. Intro email was sent and the two of them have been connected to see if they’re a good fit.

  • HIRING PR COMPANY: Today, I connected Ricky to another company who runs a significantly larger Crypto-focused PR and marketing company. These guys were responsible for some of the biggest successes in Crypto, including Ethereum, NEO, Maidsafe, Qtum, Bancor, Lisk, and Augur. They also managed scaling campaigns for DASH, Ripple, Bittrex, and Kraken. They were excited as they personally know 4 of the 8 advisors listed on the ICON website, and they have an office in Seoul, South Korea in addition to Santa Monica, NYC, Las Vegas, Toronto, and San Francisco. To say I am excited to see the emails flying around today between Ricky and their team would be an understatement.

  • STAKING! 15% Staking is coming in 43 days. The ramifications of this can not be overstated. Aside from the completely speculative “claim” from some that their whale groups will stop suppressing the price at that time (which would be great, if it’s true), I expect nearly everyone to be staking their coins, completely drying up the order book and causing massive upward price pressure come September.

  • INCENTIVE PROGRAMS: I was happy to hear from a team member that several very specific plans are being put in place, after observing countless incentive programs by other projects that have resulted in price gains. The ICON team has realized the importance of creating incentive, interest, anticipation, and excitement for this token, and they’re taking steps to make it a reality for ICX.

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My point in writing this: A LOT is coming in the next 8 to 12 weeks. All of this is centered around recovering and catapulting the price as high as it can possibly go. ICON is seeking out the all-stars in this industry with incredibly resumes, and asking the experts for direction and input.

All of the marketing and promotion has just barely begun. Everything is at ground zero. But its finally happening. All the things we’ve been hoping for, for a year and a half.

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