Bezant, a blockchain-based payment protocol and application firm, has welcomed Daesik Kim on board as Chief Cryptocurrency Officer (CCO). Kim is the founder and former CEO of South Korea’s largest cryptocurrency exchange Bithumb.
As the CCO of Bezant, Mr. Kim will be responsible for overseeing business development, product, strategy, and even partnerships. The experience of handling operations at Bithumb will help Mr. Kim to take over this diversified role at Bezant.
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Similar to many projects in the blockchain space, Bezant is addressing the current issues of the nascent technology to develop a protocol which will charge significantly less and also have a higher transaction speed compared to its competition. The team is molding it for enabling microtransactions which is a challenge with leading cryptocurrencies like Bitcoin.
Mentioning the potential of his new firm, Mr. Kim said: “Digital entertainment and e-commerce are expanding faster in emerging markets such as Southeast Asia, more so than in the US and China over the next four years. Developed markets are dominated by a few incumbents that charge high commission fees, offering limited payment options, which are plagued by high exchange fees, bank charges, and payment delays.”
Mr. Kim has joined Bezant at a time when the firm is in the middle of its ICO event and has already raised $6.28 million in a private sale. With the public offering, the blockchain firm is aiming to launch a total of $40 million.
Mr. Kim added: “With 600 million people in Southeast Asia, a large majority of which are unbanked, Bezant aims to disrupt digital payments and content distribution by applying blockchain and cryptocurrency to eliminate these barriers for buyers and sellers. Bezant’s protocol will minimize transaction fees, provide a decentralized rewards mechanism for sellers to build customer loyalty, establish a transparent rating system on sellers, and enable customers to make borderless payments using their local method.”