Recently Techsauce sat down with SIX Network, Thailand's leading Blockchain solution focusing on digital economy by building an infrastructure. They want to create an ecosystem that is transparent, fair, secured, and efficient for all stakeholders in the digital and creative economy.
Vachara: We started SIX Network on the basis of three companies. We have all of the users from our founding companies such as Ookbee. This has helped us to develop our ICO successfully. We did a lot of research on the blockchain technology and the area we are interested in has helped us to unlock a lot of funds within the network frame and this allows people to buy products and use the services we provide much easier. We have the basic mindset which we have developed on top of the SIX Network to develop a larger and more strengthened Ecosystem.
Vachara: The biggest problem we have faced is user adoption and getting people to use the blockchain technology. The blockchain is like gold right now, people just buy it but we want to solve the problem and increase the implementation of the blockchain.
Vachara: The Korean market is very powerful in the world right now. The percentage of the trading capacity in the Korean market is 20 - 30% of the total global trading landscape. Its huge for such a small country. SIX Network specifically, we create the ICO here and take it to the Korean market. We have a large fan base mixed with young and old demographics of the Korean society.
Vachara: We have done a lot of roadshows and our leading CEO is multicultured and well versed in a lot of foreign markets.
We have existing user brands so it is a larger advantage for us to implement a newer application for our blockchain technology.
Vachara: You need to know the founder of the business and watch their actions closely. The development and strength of the team are also crucial for navigating through scams. Once you create the ICO and you enlist the token on the exchange the price can fluctuate and the more it rapidly fluctuates the riskier it is. The steadier it is the more trustworthy it is. The scam ICOs try to write their white paper quickly but haven't done the deep research and the results of the tokens on the market will be unpredictable.
Vachara: The plan is really to strengthen our existing network. We want to solve the problem of creativity within the application.
We have developed a digital wallet that you can download for your cryptocurrencies. It's not just for cryptocurrencies but for chat functions like Line for example. We can send and receive messages.
SIX Fund is BlockChain Startup Fund. It is a funding program proposing to nurture digital ecosystem in the creative industry. The program established by the strong purpose to accelerate the digital economy reinventing speed. Now we have invested in ChomCHOB. This company can help us with digitally using the wallet across stores such as Starbucks or KFC. We want to exchange and strengthen the ecosystem between the tokens and the real users. We also have invested in FastWork (The biggest freelancer company in Thailand).
We also talk to a lot of Korean startups and bring them to Thailand's market as well. The two ecosystems can benefit from this connection.
For more information on SIX Network: https://six.network
Vachara is Co-founder and Co-CEO of SIX Network, the blockchain platform to reinventing the Digital Economy. He is also the Co-founder of Computerlogy, a leading startup focusing on the social media tools for enterprise in Thailand, with a range of products from social media analytics, command centre, chatbot, and more. He exited his first startup to join Yello Digital Marketing Group (YDMG) in 2016, where he assumed the role of Chief Technology Officer.