Klaytn Foundation Chairman Highlights Klaytn’s Three Goals of 2023

  • The three approaches to the goal as told by Seo Sang-min are sustainability, transparency, and strong community.
  • The platform would strengthen the relationship with investors and the deflationary currency would be used in a variety of ways.

Klaytn, an open-source public blockchain platform announced today its decision to focus on the “popularization of blockchain” as a strategy to promote its business this year. Seo Sang-min, the chairman of the Klaytn Foundation highlighted the three key approaches to popularize blockchain- sustainability, transparency, and strong community.

Notably, the chairman, during the Klaytn Foundation Press Conference held at the Crust Universe in Gangnam-gu on March 6, stated that blockchain technology is not simple, quoting:

Blockchain is still a difficult technology, and there are not many popularized DApps (decentralized applications).

Previously, last month, Klaytn underwent a major reorganization and revision of the token economy. A statement on the official page of Klaytn read, “Klaytn’s token economy is designed to create sustainable funding structures for empowering its ecosystem, growth initiatives, and strategic investments.”

Additionally, through reorganization, the complete power of administration over Klaytn has been transferred from the Kakao affiliate Crust to the individual corporation Klaytn Foundation. Also, the platform has designed its own independent coin, a ‘deflationary currency’ called the KLAY.

While explaining the three tasks for popularizing blockchain, Sang-min assured that by properly establishing tokenomics, sustainability would be realized. In addition, the deflationary currency could be used in a “variety of ways beyond transaction.”

Significantly, the platform asserted that it would focus on building a community by deepening communication with investors. By doing so, the company believes that the investors’ access to information would be strengthened and thus the value of KLAY would be increased.

Furthermore, the chairman presented a view of his plan to popularize blockchain through transparency and verifiability, stating:

We plan to make the process of selecting members of the Governance Council more public, and we will strengthen investors’ access to information and communication with the community. We plan to hold community offline events as well as Telegram.

Moreover, Klaytn clarified that the company intends to solidify the developer community along with the investor community. The platform also mentioned that it would support the projects that use their token, instead of issuing service-specific tokens.

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