Innovation comes in many different forms. "We're gonna make some history together today", "And we want to try something different So I present you the Cybertruck." Blockchain has already changed money, business and now we're on the verge of a new paradigm. I think that this is the foundation for a whole new kind of economy. And currency is just the first application, but you don't even imagine what comes next. digital nations identification connected. In 2020 the era of ICON begins. ICON will be ready to rise. Here's why. If this is your first time here make sure to subscribe and click on the bell so you don't miss any new videos. 2020 is primed to be a huge year for cryptocurrencies The Bitcoin having is drawing close and as we enter a new decade The biggest impact will come from those blockchain projects who managed to build out the foundation for mainstream adoption.
This is a game of chess and ICON has managed to slowly but surely position themselves by building connections with businesses and even government's. Connections that will inevitably showcase the true utility and potential of ICX. South Korea is quickly becoming a digital economy society, it's a technological hub and one of the most powerful countries in the world when it comes to innovation and blockchain technology. A technology that can change society forever and cryptocurrency is just the first application. We are extremely focused in the Korean market. Hi. My name is Min Kim I'm one of the cofounders of the ICON foundation. Even the Korean market alone is a huge market for us and we do Korea. We dominate the Korean market. It's gonna you know justify our tokens our traction our valuation at the end of the day.
Of course that does not mean that we will not do the effort do our homework of expanding outside of Korea but we look at ourself as extremely young company. We want to do Korea extremely well. ICON is not just building an operating system a tech company or just a new version of the internet. They're building the digital nation known as the ICON Republic. A republic with the vision of bridging together a world of digital nations. This is the future that ICON is preparing for and ICX is positioned at the forefront of this digital revolution. What's the internet of information worth? trillions of dollars. tens of trillions of dollars? You see internet of value is bigger. What will it be worth? So people talk about well these cryptocurrencies.
Just a big bubble That's a very long point of view on a whole number of levels one is remember currencies are one of seven types of crypto assets and B Yeah, sure. There's a bubble there's volatility and so on but this is something that's going to get bigger and bigger over time I've got a pretty good record over four decades of talking about the next big thing and so get ready for things like ICON – the Internet of blockchains. The number of digital assets and blockchains are growing at a rapid pace, however, these block chains remain isolated. They cannot connect share value or talk to each other. ICON is solving a problem that may prove to be the biggest obstacle for the expansion of cryptocurrencies. Interoperability. When you think about it, the ability to transact across various blockchains will be the core of a new digital economy. Without it, it's like being stranded on an island with no cell phone service It's very limiting. The ICON foundation has built a platform where anyone can connect to any blockchain in fact in 2020 ICON will have fully deployed their interchain technology to make this a reality but interoperability is not the main thing that makes ICON stand out, that's just one piece of the puzzle.
There are several pieces that need to come together in order to build a digital society the first building a digital ID ecosystem such as MyID. It's a new type of blockchain identification service, which is expected to be launched in 2020. We've been doing a lot of experiments on the identification side so we feel the first layer would be ID personal ID because your identification is extremely important when it comes to making sure which other personal data how it ties to it. So for example, I think in the securities identification of KYC process is the most rigorous. A lot of companies actually want to use that we've spoken to want to use this that level of security. when it comes to customer identification when you have identification as at the center of everything you could connect your health data your student data your academic records to your identification and these are all sort of independent blockchains that are holding different types of data about you this all kind of ties together is basically your identity. ICONLOOP's MyID Alliance is currently backed by 44 partners from various financial and non-financial sectors with the goal of connecting and expanding the ID's of countries all around the world.
ICON's parent company ICONLOOP has adopted a long term strategy of building roads in the form of private chain infrastructure while at the same time onboarding companies with the ultimate goal of connecting everything via their public chain, the public chain will utilize their native token ICX. In fact, it is stressed that all non-financial transactions will be pushed to utilize ICX. Meaning the more partnerships are built by ICONLOOP The more transactions will occur on ICON's public network. According to their roadmap MyID Alliance is expecting to reach over 1 million users by 2021.
With MyID, South Korea will be ready to support blockchain pioneers from all over the world so they can build the future with their digital infrastructure without even needing to step foot in Korea. This is big. It could become an indispensable gateway to the digital economy society by reinterpreting existing ID systems and act as one of the many catalysts fueling the rise of ICX. A very, very basic idea is our votes.
There's no way to verify where my votes have gone. So I vote for a president and I have to trust the system that my vote went to the president, but there's no way to verify it and there has been you know questionable, questions of what happened to my votes? Did they really get counted? So something like that is something that blockchain technology can really solve so at a very, very basic level I believe We have come a long way in our world history of mankind of moving towards democracy.
But are we living and in a true democracy is questionable. But we believe something like blockchain technology could take our democracy to the next level of where it should be. Blockchain has the power to transform almost every aspect of our lives but it may only be possible to unleash its full potential with the support and cooperation of governments. There are very few projects with government backing and ICON is one of them. We've shown that we could close major, major contracts with large institutions.
We have even before the token sale we had contractual relationships with securities firms. We have contractual relationships with universities and hospitals and The people's expectations is that we will continue those type of high quality partnerships and the most recently we've shown is that we actually set up a joint venture with one of the largest technology companies in the world LINE messenger company in Japan and also in Korea. It shows that we are a high caliber, highly talented group of individuals that has come together to actually execute on this product.
In fact ICON could play an essential role in designing and running the smart cities of tomorrow. It seems like Seoul is truly going all-in on blockchain and ICX will be the driving force. ICON's parent company ICONLOOP has a mandate with the Seoul Metropolitan Government to utilize loopchain as the Seoul Metro Standard blockchain platform for all current and future applications. In other words all blockchain initiatives by the Seoul Metropolitan Government will need to use loopchain the core engine that powers ICX.
The possibilities are endless. This leads us to the idea of digital nations where the token holders are its citizens. Many blockchain networks are adopting governance mechanisms that emulate traditional governments. Token holders elect entities, elected entities act on behalf of their voters for the betterment of the network. Key features of traditional economies such as money supply interest rates and taxes all exist within blockchain networks. The last key part of an economy is business. In order to be considered a nation there needs to be businesses being built and I believe decentralized autonomous organizations will be the true killer app for ICON. Governance, the DAO decentralized autonomous organizations reinventing the modern corporation, building systems of governance.
Everything interesting on ethereum is a programmable system of governance that is decentralized and maybe it's going to be a different blockchain that does smart contracts and virtual machines I'm talking about. What is the purpose of a programmable, flexible, smart contracts platform where you can do public verifiability of the execution and state of a smart contract and the use of that is governance. And if you combine governance with sound money something magical happens, you can do some really incredible things 2020 could be the year of staking ICON allows you to stake ICX and everyone can do it without expensive investment in hardware. Think of it like HODL 2.0 but instead of just HODL'ing coins you can increase your wealth by delegating and voting for block producers otherwise known as P-Reps. By staking you can expect an average annualized return rate of 20%. as of today there are over 70 candidates running for P-Rep including my team Mineable. But being a P-Rep is not just about running a node and validating transactions.
It's about contributing value to ICON and solving its weaknesses. I think we can all agree that one of ICON's biggest weaknesses is marketing. Long term holders might recall that at one point ICON was known as the Korean Ethereum and it was talked about everywhere. In the crypto world marketing is key. This is why at Mineable. We are focused on bringing just that. Mineable has spent the last two years shining a spotlight on the ICON project. With more than 200,000 views on ICON related content alone we aim to produce even more content awareness, exposure and positive buzz for the ICON project as a whole.
So if you are an ICONist, and you want marketing, vote Mineable P-Rep. For ICON the past two years have been leading up to this moment. With ICON's interchain technology, their strategic position with the Korean government, the backing of a successful private company and millions of transactions coming from private enterprises as well as public transactions from companies like LINE and Samsung. Once we combine it all it creates the perfect storm for ICX and that's why in 2020 ICON Will be ready to rise. If you made it to the end of this video Let me know in the comments if you're bullish or bearish on ICON in 2020 also If you're an ICONist make sure you show your support and vote for Mineable P-Rep.
Every vote counts! Thanks for watching! Mineable out..