CoinVoice：As a public chain that has experienced 2 rounds of bulls and bears, what is IOST's strategy to deal with the bear market?
Blake Jeong：Since its establishment in 2017, IOST has faced the so-called infinite despair and disillusionment, and has also led the hot trends of the blockchain era.
As of today, it has been nearly 6 years. As for how to deal with the bear market, we can roughly make a strategic plan from the following aspects.
Firstly, whether we are in a bear market or a bull market, we must keep in mind our original intention and continue to plunge into the frontier of digital innovation such as blockchain, AI and Web3.0.
Secondly, we should improve our market "cycle" acumen and "core" competitiveness. This part can be planned from the following aspects.
- Real-time attention to market trends and changes, timely adjustment of operational strategies
- Full understanding of user needs, provide personalized products and services to improve user satisfaction and loyalty
- Focus on brand promotion and marketing to improve market awareness and credibility
- Build core technology advantages, continue to promote blockchain, AI, data storage authentication, cross-chain interoperability, privacy computing, XR, etc.
- Deeply participate in the international market and obtain global attention resources on a comprehensive and deep level.
Last but not least, it is the active global compliance layout. Since its inception, IOST has continued to advance its global compliance strategy to embrace regulation, compliance and co-creation, regardless of whether the "bears" or "bulls" are coming, and has always been highly compatible with the relevant laws and regulations and policy guidelines of various countries and regions around the world. At present, IOST in Singapore, Japan, South Korea and other countries, Europe, the United States, Southeast Asia and other regions of the compliance layout has been gradually improved. IOST has reached deep cooperation with Singapore Enterprise Development Board, Singapore Blockchain Research Institute, Fujimi City Government of Japan, Pracs, a well-known medical institution in Japan, Japan Blockchain Industry Association, IEEE (Institute of Electrical and Electronics Engineers), University of Zurich, global drone company EVA, AWS, Super Ledger, Sadie and other government organizations, authoritative institutions, well-known colleges and star enterprises, effectively enabling the digital innovation development of the real economy with blockchain technology.
In the bear market of "cold wind", it is very difficult to rely on the power of the project itself. Therefore, a high-dimensional open user community and a diversified and innovative ecosystem is particularly important. For a long time, IOST has been adhering to the concept of "innovation, openness, collaboration and sharing" in community operation and ecological construction, and has been forging ahead.
CoinVoice：What were the biggest successes and failures of the past year in the IOST ecosystem?
Blake Jeong：Since the establishment of IOST team, we have achieved breakthroughs in technology development, ecological construction and market expansion. In the past few years, the biggest success of IOST is that the global developer community continues to be active and partners in various fields continue to grow. At the same time, with the joint efforts of the team, node partners and the community, the number of IOST ecological nodes continues to increase, the main network transactions have reached record highs, and the multi-chain ecology has gradually landed.
In addition, IOST has also been accelerating the expansion of Hong Kong market and ecology, landing Hong Kong office, efficient mobilization of local resources, working with Hong Kong's top innovation projects to build a deep Web3.0 + AI ecology, reaching consensus with Cyberport and HKSTP on cooperation in different areas. In this first year of blockchain Web3.0 + AI technology spurt, IOST has achieved remarkable results through landing IOST AI Labs and setting up "223 booster" to promote, accelerate and incubate various web3.0 and AI projects.
However, in the past year, no phenomenal ecological products to market has also become an ecological gap in IOST. The IOST team will continue to innovate and make breakthroughs to bring users more applications with rich content ecology, generous participation incentive, playability and socialization, using our years of iterative optimization of underlying technology and advantageous resources.
CoinVoice：How to lay out the IOST ecology in the future multi-chain pattern? How do you see the competition and cooperation with other public chains?
Blake Jeong：Since its inception in 2017, IOST has created a decentralized economic system with high performance, high security, transparent governance, ecological integrity, and sustainability. IOST has a large community of developers and a global market presence in nearly 30 countries.
After the mainnet upgrade in 2023, IOST 2.0 will have higher throughput and availability, becoming a true Web 3.0 blockchain operating system. IOST 2.0, the Merge IOST, will be EVM compatible using the Beacon Chain + Smart Chain architecture solution. The two will use the standard Engine API for communication.
In addition, IOST2.0 will continue to evolve and upgrade multiple sub-chains, including both general-purpose EVM smart contract chains and specialized sub-chains, such as NFT chains, gaming chains, AI Native chains, etc.
After observing public chains, we found that the main technical directions adopted by public chains are: performance, scalability and ease of use. As the most important infrastructure of the Internet, public chains are the underlying platform for developing applications and the standard of the industry, so they also attract many developers to run them. As Ethereum is recognized as the top stream of public chains, all public chain latecomers hope to capture the overflow value of Ethereum through high performance and scalability.
Up to now, whether it is the proposed solutions to the remaining problems or the innovation of consensus mechanism similar to Aptos, it shows that the new public chains with multiple chains and multiple layers still have many development opportunities and space for development.
In the world of public chains, the once strong ones have fallen and the young challengers are rapidly rising. The old and the new are fighting against each other, which is the reflection of the progress of public chain development. Under the strong competitive situation that the existing public chains are not yet saturated with advantages, new public chains will still sprout up like a spring, and the competition in the public chain field will be more intense.
IOST has always believed that technology is the foundation of public chains, developers are the core of the ecology, and user experience is the key to our future. IOST aims to build a multi-chain future, bridging the gap between blockchain technology, developers, and users. IOST 2.0 will not only allow developers to reuse and save engineering investment in writing contracts and code, but also help the ethereum ecosystem break through the bottlenecks and constraints in computation and storage that are being faced, thus solving the problem of financial threshold for user access and improving the user experience of congested and slow transactions. More performance-constrained applications can also be implemented on the IOST network.
At the user level, users of EVM-enabled public chains such as Ether can operate familiar applications in the IOST network while enjoying the benefits of IOST's performance advantages. IOST users will have more on-chain application options as the ecosystem further flourishes.
CoinVoice：IOST has had a lot of participation in Hong Kong lately, what is the intention behind?
Blake Jeong：In June this year, Hong Kong began to implement a number of policy guidelines on cryptocurrencies, and this news has attracted a large number of Web3 projects to Hong Kong in the past six months. Under the guidance of the policies, Hong Kong is expected to cultivate a Web3 ecosystem in the near future to promote the development and innovation of digital assets. Hong Kong's new policy on digital assets is a dawning light that will light up Asia's journey in the Web3 space. Hong Kong will be tasked with taking on a large number of new users into Web3, and will urgently need some Web3 applications that can really get off the ground and have practical application value.
The arrival of the new policy has once again stirred up the afterglow of the Web3 Carnival in Hong Kong in April. According to the HKMA's paper on making LP investment funds, Hong Kong defines the main direction of the future as the direction of science and innovation. In other words, Hong Kong's future money will be mainly invested in technology and innovation. So infrastructures and platforms might be the preference of the Hong Kong government. With the liberalization of the policy, it is a big benefit for projects who are really doing decentralization, or centralized projects that want to be regulated. I also hope that projects, both East and West, will relocate to Hong Kong.
IOST's presence in Hong Kong is timely and swift, discovering the opportunities presented by Hong Kong's new policies as early as March. After securing a $10 million investment from BitValue Capital, a Canadian Web3 investment firm, IOST inaugurated an office in Hong Kong, formed a Hong Kong marketing team, advanced a diversified international compliance expansion centered in Hong Kong, and launched a global marketing campaign and eco-building.
IOST will also continue to work with Hong Kong government agencies, investment institutions and industry leaders to drive the development of Web3 public chain and provide a more secure and decentralized infrastructure for global users.
From actively embracing regulatory compliance, to laying out the public chain ecosystem to foreseeable business expansion, IOST has completed the three-step strategy to lay out the Hong Kong crypto market. It’s just the beginning of IOST's Hong Kong crypto story. IOST firmly believes that the future of Hong Kong is promising!
CoinVoice：What is the future of the IOST ecosystem to look forward to?
Blake Jeong：As a Web3 public chain that has been running its main network for more than four years, IOST has built hundreds of Web3 projects on its main network, including games, mainstream platforms, wallets, developer tools, professional mining pools and so on. In terms of ecological layout, IOST and partners have been expanding the ecological landscape in Metaverse, NFT, DeFi, GameFi, SocialFi, AI, infrastructure and cloud services. Below are AI, SocialFi and GameFi to further illustrate our recent layout and areas.
AI: In view of the revolutionary and disruptive impact of AI applications represented by ChatGPT on various industries around the world, IOST has recently expanded the possibilities of blockchain + AI and established IOST AI Labs. IOST has built a blockchain + AI basic data platform to support the initial development of a series of AI products and services, realizing the multi-dimensional and deep integration of blockchain technology and AI technology, and has completed the demo.
SocialFi: Gaming is one of the ways to socialize, and the explosion of GameFi will drive the demand for social applications. IOST's high performance network, and account system with customizable wallet addresses, provides a fundamental convenience to the development of social applications.
GameFi: As a high-performance Web3 public chain, IOST is known for its high TPS, high security, and low latency. IOST is the first choice for developers who want to rely on a high-throughput, low-latency public chain to develop high-performance applications such as games.
IOST plans to invest more resources and efforts in these areas (the launch of related funds) in order to promote the development of IOST in these areas. Please look forward to it! Stay tuned!
CoinVoice：What is the current state of IOST’s ecological construction in Hong Kong?
Blake Jeong：As one of the most important financial centers in Asia, Hong Kong is an important hub for the innovative development of Web3.0 and a leading global center for technology innovation. With the emergence and continued explosion of Web3.0, more and more innovators and entrepreneurs are flocking to Hong Kong to explore new business models and technology applications.
On April 7, 2023, IOST Hong Kong office was officially inaugurated, the Hong Kong marketing team was formed.
At present, IOST has completed offline meetings with Cyberport and HKSTP in Hong Kong for in-depth exchanges. IOST and BitValue Capital also organized a Web3.0 Networking Conference with the theme of "Web2.0 to Web3.0, World to Hong Kong".
As of today, IOST has become strategic partners with many well-known organizations and enterprises in Hong Kong, such as WEB3HUB of G-Rocket Gono International Accelerator, MUXIC, a meta-universe music interaction platform, and DBX Global, a Web3.0 social platform, to create a new paradigm of Web3.0 in Hong Kong.
In order to promote the development of Web3.0 related technologies in Hong Kong, continue to pioneer the path of ecological digital innovation empowerment from Web2.0 to Web3.0, and provide comprehensive support for quality Web3.0 projects, IOST and BitValue Capital, in collaboration with ecological partners, have established Web3 HK Startup Accelerator named 223 Booster in Hong Kong. On June 14, Spark Digital Capital, BSCS, 852Web3 and other institutions from major global crypto markets officially joined [223 Booster] as the first executive members.
In addition, in order to build a community-driven decentralized, open, fair and transparent education ecosystem, on May 31, IOST officially became a strategic partner with Professor Emil Chan, a FinTech education evangelist in Hong Kong, and jointly created NextEduDAO, an innovative, higher education-focused Web3.0 platform.
CoinVoice：ChatGPT brings AI development into the fast lane, how will IOST set sail for the AI wave?
Blake Jeong：Since the introduction of ChatGPT, the AI wave has swept the world, and in order to seize the new track, major companies have entered the AI field, which undoubtedly brings opportunities and challenges to blockchain projects. IOST has been exploring and developing in various popular fields, and actively cooperating with major cloud service providers.
On April 25, 2023, IOST AI Labs was officially established, the lab team mainly consists of senior research experts in the field of AI algorithms and Large Language Models (LLMs). IOST core technology developers, aiming to create a "Artificial Intelligence as a Service" ("AaaS") full ecological service model, in order to attract more projects and teams that need "Blockchain +" empowerment and "AI +" efficiency to join the ecological construction.
IOST AI LABS will set up several "special test R&D teams" to support the research and development of large-scale intensive computing, big data training, standardized service models, environmental state perception, computer audio-visual testing, biometric recognition, human-computer interaction patterns, machine translation and other directions.
1. AI Native Chain, an AI sub-chain of IOST
The AI Native Chain, an AI sub-chain of IOST, uses a new mechanism, Proof of Inference. "AI Native Chain" has the core technical advantages of large model control, simple configuration and decentralized trust mechanism, which can provide users with a series of AI solutions in real time.
2、IOST AI products and services
In the early stage of the development of a series of AI products and services, IOST has built a blockchain + AI basic data platform to achieve a multi-dimensional and deep integration of blockchain technology and AI technology, and has completed the demo.
IOST series AI products and services mainly involve popular tracks such as Data Indexing, NFT, Gaming, DeFi, AI Metaverse, AI DAO, etc. and will be officially released after the completion of the final public testing.
3、IOST AI star plan
【 IOST AI LABS 】will launch IOST AI star plan to provide free training and incubation support for developers who are interested in joining the ecological construction of AI Native Chain. We provide a series of AI solutions, technology development guidance and marketing resource matching services for partners.
In short, IOST will continue to cultivate the Web3.0 + AI field and build an international AI lab as a pioneer to provide new ideas, build a new pattern and start a new chapter for the healthy and sustainable innovation development of Web3.0 + AI.
