Live: Icon / Jibrel Network / South Korea Trip

Boxmining avatar Boxmining
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ICON is the community coin winner from last month! In this video i talk about Icon (ICX) and also the Jibrel Network 👍🏻Subscribe to my YouTube Channel: https://www.youtube.com/c/boxmining 👑Recomm...

AI Analysis

This video dives into the exciting world of cryptocurrencies, focusing heavily on the Korean market, the promising ICON project, and the Jibrel Network. It also shares a personal journey to South Korea to attend a major blockchain conference, offering insights into the future of decentralized technology and the broader market.

Here’s a breakdown of the key topics and discussions:

* South Korea's Crypto Fever & Market Dynamics
* South Korea is experiencing significant "cryptocurrency fever," with Bitcoin trading at nearly $18,000 and Ripple at $2.51, much higher than global prices.
* This price discrepancy is due to the difficulty of easily sending fiat currency in and out of South Korea, creating unique arbitrage opportunities.
* There's an intention to visit South Korea to understand the on-the-ground situation and how the market operates there, including potential visits to "PC bangs" (internet cafes) where crypto trading is rumored to be common.
* The Korean government is very interested in blockchain technology, seeing it as a revolution, but remains sensitive about ICOs. The upcoming conference aims to educate officials on the benefits of decentralized trust and applications.

* ICON (ICX): The Community's Choice
* ICON was the overwhelming winner of the first "BoxMining Community Favorite Coin" contest, securing 50% of 3,500 votes.
* As a result, there's a commitment to buy $500-$1000 worth of ICON to track its performance throughout the year, as an experiment to see if the community can pick successful coins.
* ICON is currently ranked 18th by market capitalization, holding strong during periods when the broader crypto market is "in the red."
* It's often referred to as "the Ethereum of South Korea," backed by the prominent Daily Group (a fintech startup established two years ago, with connections to names like Samsung) and three major universities.
* ICON's core mission is to "hyperconnect" various decentralized communities, similar to how NEO aims for global reach from its Chinese base.
* The technology is built on a new platform called "Loopchain," not Ethereum. It uses a unique consensus algorithm called "Loop Fault Tolerance," a variant of Byzantine Fault Tolerance, distinguishing it from Bitcoin's Proof of Work or Ethereum's Proof of Stake.
* ICON plans to support decentralized applications, interchain communication, a decentralized exchange, and real-time transactions.
* The project isn't new; it has a long development history and strong backing, indicating significant business deals and collaborations.
* The mainnet launch is expected soon, which is a critical step in turning its whitepaper vision into a working product.
* Don Tapscott, a well-known blockchain advisor, is an advisor for ICON and will also be at the South Korean conference.
* It's emphasized that ICON isn't in a zero-sum competition with projects like NEO. Instead, the focus for both is on securing collaborations and developer adoption to expand the entire crypto space. ICON aims to act as a "bridging" technology, connecting different institutions and blockchains.

* Jibrel Network: Tokenizing Traditional Assets
* The Jibrel Network recently concluded a successful ICO.
* Its primary goal is to bring traditional financial assets like currencies, equities, and commodities onto the blockchain as ERC-20 tokens, running on the Ethereum blockchain.
* This innovation would enable 24-hour trading of these assets, a significant departure from the limited trading hours of traditional markets.
* Jibrel Network is the organizer of the major blockchain event in South Korea, bringing together key figures from both traditional finance and blockchain.
* They are developing the "J-Watch" Alpha wallet, designed for institutional-grade management of these tokenized assets.

* The South Korea Conference & Personal Experience
* The conference in South Korea (January 17th) is anticipated to be the largest blockchain event in the country's history, with 500+ attendees, including government ministers and journalists.
* There's a great honor in being invited to speak and having a logo placed alongside titans like Binance, NEO, and Metaverse.
* The event's agenda will strictly focus on blockchain technology rather than ICOs, respecting South Korea's sensitive regulatory environment.
* The aim is to provide an on-the-ground report of the Korean crypto scene, including government sentiments following recent talks of exchange bans.

* Broader Crypto Market & Technological Outlook
* Market volatility is expected to continue and potentially increase this year due to new money and "weak hands" entering the space.
* Diversifying a cryptocurrency portfolio is seen as a way to mitigate risk, especially in a highly volatile market.
* A key insight highlighted is the critical need for scaling solutions in blockchain. While current comparisons are often to Visa transaction speeds, the real demand will come from applications like gaming (e.g., World of Warcraft auction houses, EVE Online trading) and Internet of Things (IoT) devices. A single user in gaming could generate thousands of transactions per second, far exceeding current blockchain capacities.
* Layer 2 solutions like Bitcoin's Lightning Network, NEO's Trinity, and Ethereum's Raiden and Plasma are vital for handling future transaction volumes.
* There's enthusiasm for established projects that have been in development for years before their ICOs, contrasting with newer, less-backed projects.
* The integrity of teams that choose not to increase their ICO cap despite rising crypto prices (like Gatcoin) is commended.
* Mainstream media coverage of crypto is often inaccurate and sensationalized, requiring ongoing education.

* Wallet & Exchange Recommendations
* For secure long-term storage, hardware wallets like Ledger are recommended, as private keys never leave the device.
* For daily use, user-friendly software wallets are highlighted: Exodus for PC (praised for its beautiful interface) and Enjin Wallet for mobile (commended for its security features, custom keyboard, and fingerprint login).
* A warning is given against importing private keys across multiple wallets, as it creates more points of vulnerability.
* New exchanges like KuCoin and Coss are discussed as alternatives to centralized giants like Binance, supporting the idea of decentralized power within the crypto ecosystem.

The overall sentiment is one of immense excitement and optimism for the ongoing "blockchain revolution," with a strong belief that 2018 will be a pivotal year for widespread adoption and technological advancement, particularly in scaling solutions and the integration of blockchain with traditional industries.

Transcript

So we're going live right now. Thank you guys so much for tuning in today to today's episode. I'm just going to give some time for everyone to come in. But today what we're going to talk about is Icon. So Icon, we're going to talk about the Jabril Network. And I'm talking about my upcoming trip to South Korea. So I'm going to test if this is working right now. It should be working. It should be good to go. Yep, we're good to go right now. So guys, thank you guys so much for watching. Thank you ...