As we near the end of 2017, we wanted to look back into this year and share the achievements of the South Korean blockchain, Icon (ICX) who have successfully completed everything they set out to do in their business roadmap as in the world of blockchain, sometimes the business side can be overlooked.

2017 Business Roadmap

The business roadmap the ICON team had set for 2017 was as follows:

The Icon team has worked tirelessly to realize their vision of hyperconnecting the world in 2017. After a successful token sale which lasted just 6 hours, they have since focused their efforts on actual service implementation and business expansion and have achieved all the goals on the roadmap for the year 2017 and more.

Successful achievements includes, launching of the Chain ID service, the world’s first blockchain authorized service; running a trial of blockchain platform services such as U-Coin for university communities, listing on a number of top global exchanges, and forming a Blockchain Interoperability Alliance. They were able to achieve incredible results in various sectors of the blockchain ecosystem.

2017 Achievements

LOOP-ONE: loopchain, the core engine of the ICON network, is distributed as open source software. They also had a “Blockchain Demo Day” with software developers and financial experts.

Chain ID25 Institutions collaborated in the Financial Investment Consortium at the launching event of the Blockchain ID, a blockchain shared certification service. The opening event gained media attention with Don Tapscott’s attendance, who serves as an advisor on the Icon advisory board.

U-Coin: U-Coin is a blockchain platform that makes it possible to pay, charge and transfer money using a smart vending machine. The U-Coin was well-received at the pilot service run in Sogang University and Postech University.

Insurance auto-claiming service: In December 2017, Kyobo Life Insurance launched a consortium for insurance auto-claiming system. The response was hot in the Global IoT exhibition 2017 which took place in COEX.

Weebee Coin: Icon partnered with Woori Bank, one of the top-tier banks in South Korea, to build a service where digital currency is used as cash or card in franchises. Weebee Coin is expected to expand to university communities and regional societies.

Blockchain-based Document management platform: theloop, the blockchain technology team behind ICON, signed a MOU with ChainToB, a blockchain startup company, to collaborate on developing blockchain-based document management platform.

Blockchain Interoperability Alliance: ICON, AION and Wanchain formed the first Blockchain Interoperability Alliance in the industry. The Alliance’s main priority is to collaborate on developing a global standard for interchain communication and transactions. This will be achieved by conducting Interchange Transaction research, developing common industry standards, sharing research, and collaborating on protocol architecture.

2017 ICON Network

The current ICON Network is as the above. In 2018, the ICON team will be focusing their efforts to connect more Communities to expand the ICON Network and come closer to ‘Hyperconnecting the World’.


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