[INTERVIEW] EDRAKOREA’s CEO KWAK JUNGYU
“Anyone can use a mobile phone for free by paying monthly fee for a cell phone with cryptocurrency which was mined within EDRA’s ecosystem. EDRA KOREA(EDRA) aims to issue and spread cryptocurrency similar to real currency and that can be used in real life.”
▲ EDRAKOREA PRESIDENT KAWK JUNGYU
In the interview with IT Joseon, EDRAKOREA’s CEO Kwak Jungyu stated that mobile phones will be available to use free of charge by utilizing block-chain technology and cryptocurrency. Initially this may sound absurd, but CEO Kwak guarantees that this service can be thoroughly realized in reality in weeks.
CEO Kwak’s such confidence is understandable when looking at his long career. He is an advertisement commerce platform expert with experience in leading Yahoo Shopping and Naver Knowledge Shopping advertisement projects. He is a renowned individual in the area of creating profit utilizing advertisement and payment commerce platforms. Currently it has completed technical development, and plans to start full-scale promoting activities prior to service commercialization.
On May 3rd, EDRA officially launched ‘EDRA’—the mobile device based on block-chain platform. EDRA coin was invented by EDRA and utilizes ‘logical sharing block-chain mining technology’ rather than problem-solving algorithm type technology.
Users need to install an exclusive application to earn EDRA coins. Even until now, services are operated by mobile phone users earning points when installing an application and touching an advertisement. The problem with this is that excessive exposure to advertisement causes fatigue and rewards were meager in contrast to the vast number of advertisement touches.
On the other hand, EDRA applications induce the usage of various contents provided within each particular application instead of the existing service method which has excessive advertisement exposure. This is possible by utilizing the ‘logical sharing block-chain mining technology’ which allows user to casually earn cryptocurrency when listening to music, playing games, and watching fashion contents or videos.
According to his explanation, the cost of advertisement exposure on Naver or Daum apps is approximately KRW 0.1 won. Whereas, the cost of advertising on Facebook or Kakaostory is KRW 5 to 20 won. Although the cost is 50 to 200 times higher, users feel less fatigue to advertisements on Facebook or Kakao. In some cases, users even perceived some advertisements as general content.
▲EDRAKOREA CEO Kwak Jungyu
With understanding of the smartphone interface and if utilized strategically, content-utilizing advertisements can be recognized as general content. In other words, users will perceive they are playing a game provided by the gaming company, but the game itself is an advertisement. Furthermore, cryptocurrency will be rewarded each time contents are used, and phone charges can be paid with this cryptocurrency. This will allow both mobile phone users and contents providers’ in a win-win situation.
Also, mining for contents only uses 2% of the phone’s total battery consumption and therefore minimizing unnecessary power loss.
CEO Kwak said that, “Up until now, the service structure made users pay fees one-sidedly. EDRA’s development project was initiated from an unprecedented idea to charge companies or individuals who want to promote their contents on our platform, and reward users who consume the corresponding contents.”
He emphasized that, “The secret that allows EDRA platform to distribute contents on smartphones is because EDRA possesses the technology to rapidly process transactions.“ He continued to say that, “Normally, generation for new blocks requires a maximum of 50 minutes for Bitcoin and 5 minutes for Ethereum, whereas EDRA platform only takes 10 seconds to process.”
In order to utilize services on the EDRA platform, EDRA has formed partnerships with large mobile phone manufacturers. Currently, application development is complete that allows existing smartphones to access the EDRA platform, and EDRA is cooperatively working with global mobile phone manufacturers to find a way to install the exclusive application as a default on the smartphone.
To go a step further, EDRA plans to launch EDRA special smartphones. CEO Kwak said, “Right now ‘EDRA phone(tentative)’ development has been completed and it’s ready for release in the market anytime. The specific model name cannot be disclosed before the official release.” “EDRA phones possess as high specifications as Galaxy 8 and will be released within this month at approximately KRW 250,000 won,” he explained.
He added that, “If EDRA phones are bought and used like a regular smartphone, we plan to support payment for phone charges with cryptocurrency that are accumulated automatically. EDRA can earn profit from EDRA smartphone sales and service support commission fees.”
Currently, the total volume of EDRA coin issuance is 100 billion units. EDRA plans to issue 80 billion units stretching over 80 years and sell 20 billion units by public ICO. ICO is scheduled on May 20th in cooperation with the Kyoto Consulting Group, and 1 Ethereum coin is exchangeable for 45 thousand EDRA coins.
** Visit Us! **Homepage: www.edra.io
Facebook: www.facebook.com/edra.kor.94
Telegram community(English): https://t.me/edra_official
▲ EDRAKOREA PRESIDENT KAWK JUNGYU
In the interview with IT Joseon, EDRAKOREA’s CEO Kwak Jungyu stated that mobile phones will be available to use free of charge by utilizing block-chain technology and cryptocurrency. Initially this may sound absurd, but CEO Kwak guarantees that this service can be thoroughly realized in reality in weeks.
CEO Kwak’s such confidence is understandable when looking at his long career. He is an advertisement commerce platform expert with experience in leading Yahoo Shopping and Naver Knowledge Shopping advertisement projects. He is a renowned individual in the area of creating profit utilizing advertisement and payment commerce platforms. Currently it has completed technical development, and plans to start full-scale promoting activities prior to service commercialization.
On May 3rd, EDRA officially launched ‘EDRA’—the mobile device based on block-chain platform. EDRA coin was invented by EDRA and utilizes ‘logical sharing block-chain mining technology’ rather than problem-solving algorithm type technology.
Users need to install an exclusive application to earn EDRA coins. Even until now, services are operated by mobile phone users earning points when installing an application and touching an advertisement. The problem with this is that excessive exposure to advertisement causes fatigue and rewards were meager in contrast to the vast number of advertisement touches.
On the other hand, EDRA applications induce the usage of various contents provided within each particular application instead of the existing service method which has excessive advertisement exposure. This is possible by utilizing the ‘logical sharing block-chain mining technology’ which allows user to casually earn cryptocurrency when listening to music, playing games, and watching fashion contents or videos.
According to his explanation, the cost of advertisement exposure on Naver or Daum apps is approximately KRW 0.1 won. Whereas, the cost of advertising on Facebook or Kakaostory is KRW 5 to 20 won. Although the cost is 50 to 200 times higher, users feel less fatigue to advertisements on Facebook or Kakao. In some cases, users even perceived some advertisements as general content.
▲EDRAKOREA CEO Kwak Jungyu
With understanding of the smartphone interface and if utilized strategically, content-utilizing advertisements can be recognized as general content. In other words, users will perceive they are playing a game provided by the gaming company, but the game itself is an advertisement. Furthermore, cryptocurrency will be rewarded each time contents are used, and phone charges can be paid with this cryptocurrency. This will allow both mobile phone users and contents providers’ in a win-win situation.
Also, mining for contents only uses 2% of the phone’s total battery consumption and therefore minimizing unnecessary power loss.
CEO Kwak said that, “Up until now, the service structure made users pay fees one-sidedly. EDRA’s development project was initiated from an unprecedented idea to charge companies or individuals who want to promote their contents on our platform, and reward users who consume the corresponding contents.”
He emphasized that, “The secret that allows EDRA platform to distribute contents on smartphones is because EDRA possesses the technology to rapidly process transactions.“ He continued to say that, “Normally, generation for new blocks requires a maximum of 50 minutes for Bitcoin and 5 minutes for Ethereum, whereas EDRA platform only takes 10 seconds to process.”
In order to utilize services on the EDRA platform, EDRA has formed partnerships with large mobile phone manufacturers. Currently, application development is complete that allows existing smartphones to access the EDRA platform, and EDRA is cooperatively working with global mobile phone manufacturers to find a way to install the exclusive application as a default on the smartphone.
To go a step further, EDRA plans to launch EDRA special smartphones. CEO Kwak said, “Right now ‘EDRA phone(tentative)’ development has been completed and it’s ready for release in the market anytime. The specific model name cannot be disclosed before the official release.” “EDRA phones possess as high specifications as Galaxy 8 and will be released within this month at approximately KRW 250,000 won,” he explained.
He added that, “If EDRA phones are bought and used like a regular smartphone, we plan to support payment for phone charges with cryptocurrency that are accumulated automatically. EDRA can earn profit from EDRA smartphone sales and service support commission fees.”
Currently, the total volume of EDRA coin issuance is 100 billion units. EDRA plans to issue 80 billion units stretching over 80 years and sell 20 billion units by public ICO. ICO is scheduled on May 20th in cooperation with the Kyoto Consulting Group, and 1 Ethereum coin is exchangeable for 45 thousand EDRA coins.
** Visit Us! **Homepage: www.edra.io
Facebook: www.facebook.com/edra.kor.94
Telegram community(English): https://t.me/edra_official
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