Translation to English

What about Israel's blockchain technology?… Corporate presentation in Korea

Haeyong Sohn for Joongang Ilbo
May 28, 2018

Israel's startup company, Razors, introduced a car-sharing service that uses blockchain technology.The real-time operation records of the vehicle are stored on a blockchain, and the passenger can pay with the company's Cryptocurrency 'Juize'. This is a so called blockchain Uber.

Israel, which is considered an IT powerhouse, has business models based on blockchain in various areas such as security, finance, medical care, logistics and games.

Attempts to apply blockchain to new technologies are also active. As a result, more than 75 companies involved in the blockchain technology raised $ 499 million in Israel last year.

Several Israeli companies introduced their services and technology at the Israel Block-chainEnterprise Conference, hosted by the Israeli embassy on May 24.

The keynote speaker Ohad Topor, the CEO of TCK Investment (SeniorAdvisor to the new Korea Israel Innovation Center) said"Israel is a technology powerhouse with more than 6,000 startups, and is currently receiving a lot of investments from global companies and more recently from Korea. When Korea's innovation in blockchain, AI and IoT is combined with Israel's technology, synergy effect will be huge”

Dopamine, which attended today's conference, has built a system to protect intellectual property rights on block chain. Uri Yerushalmi, the CEO of the company, said: “Only a few companies, including Apple and Microsoft, have a complete artificial intelligence 'pipeline' that has enough data, effectively categorizes data, and learns it.”“By using blockchain technology, many participants can construct the 'pipeline’.”Blockchain allows multiple participants to build 'pipelines' by sharing data, dividing roles, linking various elements, and receiving as much reward as they contribute.”

"Jinc" also shared marketing techniques using a blockchain.

The founder, Daniel Tranhtemberg said,"Advertisers reveal custom ads based on their data, and users receive something in return for providing their data."“We can cut marketing costs by more than 30 % because we don't need a advertising broker.”

Uriel Peled, founder of Orbs, said. "The social networking services used by the public have introduced blockchain and the use of blockchain is expanding.It will be important to build custom blockchain infrastructures that meet each company's business needs.”

Rio, the CEO of 'Jelurida' said,“The disadvantages of most of the Cryptocurrencies are huge energy consumption and high transaction fees.Cryptocurrency'Ardor' does not require high-quality hardware, so it uses less energy, and end users don't have to pay transaction fees."

Mr. Topor said, “In the future, the Korea Israel Innovation Center will provide fully tailored 

support to help Korean Corporations and Investors find partnerships and opportunities with Israeli technology companies and to help enhance innovation.”