In a recent interview, Charlotte Lee, Marketing Lead of AhnLab Blockchain Company (ABC), shed light on the company's mission, vision, and recent accomplishments in the Web3, crypto, and blockchain space.
ABC is a subsidiary of Korea's leading cybersecurity company, AhnLab, which boasts a 28-year legacy of securing digital landscapes. Established with the mission of providing a secure and user-friendly experience in the Web3 space, including Metaverse, GameFi, DeFi and community building, ABC is committed to safeguarding individuals' content and assets. ABC's flagship product, the ABC Wallet, is a non-custodial wallet designed for utmost security and user convenience. It is supported across various EVM networks, including Ethereum, Polygon, and Klaytn.
Navigating the Security and Regulatory Compliance
As a subsidiary of a cybersecurity giant, ABC places security as its utmost priority. The company aims to build the safest Web3 wallet globally, ensuring financial institution-level security and eliminating the hassle of mnemonic management.
Charlotte Lee advised those looking to implement projects in Korea - “Choosing a reliable partner and building trust are very important in the web3 business development. There are so many ups and downs in this industry. It is hard to judge that a certain project or company is 100% reliable. Specifically, government regulations and market conditions affect most blockchain companies in South Korea fairly. But we should not forget the values such as trust and security. Many people are surprised that AhnLab has a blockchain company and they are doing the wallet business. I think one of our strengths is that our team is composed of highly skilled security experts with a total of 120 years of combined experience in the cybersecurity industry. Security is the top priority in our culture, and we reflect this value into our products too.”
Further Blockchain Technology Developments in South Korea
Charlotte Lee believes the current stage represents the early mass adoption phase, especially in Seoul. To accelerate this adoption, she emphasizes the importance of enterprise adoption and the development of user-friendly applications connecting users to decentralized apps.
For companies looking to enter the Korean or APAC market, Charlotte Lee suggests: “A wallet is an essential tool for anyone in the web3 world; therefore, I believe that wallets will be the primary interface for the influx of hundreds of millions of new users in the future. The market size of the crypto wallet business has been gradually growing. Last year, it reached $8.5B, combining both hot and cold wallets. According to a report, the market will reach $48B by 2030. To attract many users to Web3, wallets must continue to evolve.
In my opinion, the key to success in the wallet business depends on bridging the gap between traditional finance and crypto. In South Korea, STOs (Security Token Offerings) and CBDCs (Central Bank Digital Currencies) have been really popular over the last 3 years, but it is hard to find significant use cases for them. We face challenges, such as developing wallets being extremely time-consuming and requiring high costs. It is also hard to persuade traditional financial institutions to adopt new experiences."
Regarding recent developments, ABC Wallet was successfully launched in late 2022. One of the company's significant achievements is the partnership with SK Telecom, a prominent telecommunications company in Korea, where ABC Wallet has been integrated into its service 'T Wallet', for users to transition from web2 to web3 experiences, enhancing user experiences.
ABC's primary goal is Web3 mass adoption, and to achieve this, the company focuses on simplifying the user experience and reducing barriers. ABC Wallet is available in six languages to cater to a global audience.
As a sponsor of the Polygon Ignite event from September 4th to 9th, 2023, in Seoul, ABC aims to raise awareness of its brand and company, connecting with global and domestic builders and is also preparing to launch the WaaS (Wallet-as-a-Service) version of ABC Wallet, catering to business, enterprise, and project needs.
About AhnLab Blockchain Company
ABC is a subsidiary of AhnLab, Korea's premier cybersecurity company. ABC is dedicated to providing secure, user-friendly solutions for the Web3 and Metaverse, with its flagship product, ABC Wallet, at the forefront of innovation in the blockchain space. With a focus on security, convenience, and global accessibility, ABC is pioneering the future of digital asset management.
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