Source: Financial News (View Original)

//Translated from Korean Language//

theloop will hold a blockchain conference ‘LOOP-ONE’, which will open and demonstrate its open source blockchain engine at the Financial Investment and Education Center on Aug. 3.

In the first part of the conference, Jonghyup Kim of theloop will talk about the background of the development of the blockchain with the theme ‘Blockchain: Hyperconnect the World’.

In Part 2, an in-depth discussion will be held for invited finance professionals.

Founded in 2016, theloop has acquired top-notch blockchain engineers and independently developed an enterprise blockchain engine called loopchain.

This is not only the first in Korea but also the open source engine technically comparable to R3 Corda or Hyperledger Fabric, which are current global blockchain projects. It is a customized blockchain solution that can be optimized for various environments from financial services such as authentication, liquidation, and trading to non-financial business such as IoT environment based on its own modular structure.

Recognized for its above-mentioned advantages and technology, theloop has established the largest consortium in Korea in various fields including financial investment companies, insurance and health care. In particular, the consortium will apply the technology to 25 securities firms’ joint authentication services that will be released soon.

This is the first case where the blockchain technology is applied to the actual work environment in Korea. In addition, it is attempting to apply it in accordance with the needs of users in the field of financial transactions and digital money.

theloop CEO Kim Jonghyup said, “Following successful development of the blockchain engine independently last year, we have achieved rapid growth by constructing the largest blockchain consortium in Korea based on flexible engine structure that can meet various business demands. Through this conference, we hope that theloop will get a step closer to the users and it will be a real help in applying them to their work.”

theloop has been selected as a technology provider for the ‘Promising Open Software Development Support Project’ hosted by NIPA (Information and Communications Industry Promotion Agency) this year, and plans to launch an open source project in earnest from 2H12 based on the existing block chain platform.

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