Why Blockchain VC's are Betting On Korea

And so, you know, I think it's so valuable actually to have the perspective that four pillars brings right because when you establish yourself as a source of truth and a source of expertise for policymakers and for companies you really get such a better perspective around what people are exploring and

I'd love to hear a bit about

as you think through the future of blockchain in Korea and more and more Western attention comes to the market, what do you think would be the one thing that they should internalize before their first trip here?

Western companies are generally just curious about the Asian market.

But I think the most important thing that would later come up is whether there will be business being able to build upon here.

So the reason why these companies are trying to come to Asia is because they are trying to build business upon it and generate more profit here.

I think most of the companies have curiosity, but not have a specific plan or target.

So having this target on whether they want to increase the trading borders or whether they want to partner with institutions for them to invest or trying to bring us capital.

Or if you want to partner with institutions to build financial infrastructure with blockchain technology, I think that could be also a goal.

So I think the goal should be really specific.

I think on top of that, they should not misunderstand about Korean market in the first place.

Koreans are not only very aggressive traders, but they're very aggressive users.

They're very aggressive consumers.

If you look at the usage of cloud and usage of chat GPT right now, if there is a good product and good product is being introduced to Korean people, they're more than happy to spend a lot of money for actually using them.

But a lot of protocols I met these days, they always treat them as traders.

So, how can I get listed on Muppet? How can I get listed on Bithumb? Which is quite a big milestone for them, for sure.

I understand that.

But at the same time, Korean people are eager to try new things.

And if they are confident about their product, introduce your product first.

Whether there are tokens being listed on some biggest exchanges in Korea or something, they just introduce how good your product is and then let them use it.

And Koreans are going to use it and their willingness to pay is super high.

So look at how the Korean users right now are paying tens of thousands of dollars for their AI infrastructure right now.

I think Cloud is really thankful for Korea, and even Sam Altman is really thankful for Koreans' usage.

Even Elon Musk was very grateful about Korean people trying Tesla and driving Tesla as well.

And he said Korea is one of the very few countries that are always way ahead.