The latest in a myriad of announcements from aelf came during a large press conference in Korea last week. This press conference consisted of a number of large news outlets throughout South Korea and showed clear interest in the project. This conference was presented by Zhuling Chen, COO and Co-Founder of aelf, and JB Lee, Head of Operations in South Korea. They combined to present in English and Korean followed by an hour long very interesting Q&A Session.

Please follow this link to view the full Press Conference

Zhuling introduced the project first and gave an overview of the conference proceedings. He presented four main points:

1) Introduction to aelf — how it will push the technological advancement of blockchain into commercial industries

2) Explanation of the technological achievements aelf has developed to date

3) A discussion on aelf’s plan to drive the adoption of decentralized applications onto blockchain technology

4) Marketing and branding strategies in Korea

To put all this in context Zhuling explained that blockchain, developed 10 years ago, started with bitcoin being a trust-less payment system. This was followed up by the ‘2nd edition’ of blockchain technology being Ethereum, which included smart contracts into the blockchains. This new technology, however, is not up to scratch to today’s performance standards, according to Zhuling. This is where aelf comes in. aelf is the next generation of blockchain which will unleash the business value of different applications that can run on blockchains. It will be fast and flexible for different use cases.

The three key challenges that is facing the current blockchain industry are:

1) Scalability

2) Resource Segregation

3) Flexibility

aelf is addressing each of these hurdles directly. For a more in-depth explanation of these how aelf is addressing these issues please see ‘Key objectives of aelf’ and ‘aelf refresher’. JB goes on to discuss the technical aspects of aelf in more detail in Korean.

Following this, Zhuling presented the next section in English, explaining the plan for aelf driving blockchain adoption. Although the Development team are on schedule to building the platform, this is only the first step. The real key to success is defined by how a project can support and enable different business applications to succeed upon it as a blockchain.

As this is such a new industry, it is quite unclear how to define the best way or use case to implement this technology for widespread business cases. As such, there needs to be an environment created in which people can discover the best method/approach for their particular model. This is where the Innovation Alliance is important. Zhuling went on to present this coalition to the Korean press. It has three main elements:

1) Capital support

2) Business model application and consultation

3) A foundation platform to build upon

Zhuling then proceeded to extend a welcome to any players in the industry to join the alliance.

JB took the stage next announcing the partnership with Atarad as part of the overall marketing & branding strategy for aelf in Korea. This partnership will help to slingshot aelf into the mainstream of all industries affected by blockchain. As an example there were some images shown of aelf advertisements in numerous locations including buses, bus stops and billboards. It showed a new makeover for the website with some attractive and stunning graphics. This is truly a great step forward in pushing aelf to the next level.

Below are some of the graphics: