[Technical Overview]

Blockchain is a digital ledger that securely and transparently records electronic transactions. It is based on technical transparency, which ensures security and prevents arbitrary alterations by operators. The "distributed ledger" used in blockchain is shared by numerous users, but once data is added, it cannot be arbitrarily modified or deleted, similar to a digital spreadsheet.

Blockchain consists of data blocks linked together in a chronological sequence. Each block contains a unique digital code called a "hash," formed by mathematical algorithms. When a new block is added to the blockchain, it connects to the previous block through the "hash code." This creates a "chain of blocks," hence the name "blockchain."

However, early blockchains like Bitcoin and Ethereum, while securing decentralization and transparency by allowing numerous nodes to participate, sacrificed the processing speed required for large-scale services. As a countermeasure, private blockchains such as Hyperledger Fabric and Ethereum Enterprise emerged, maintaining security and transparency while improving speed by using limited nodes for specific tasks and institutions. Yet, these private blockchains also faced speed improvement issues due to the increased encryption, decryption, and DB access operations required for services, leading to bottlenecks. Consequently, they were mainly used for limited purposes like small-scale services, coin transactions, derivative trading, and DeFi.

To address these limitations, the Fognet project invested years in developing an independent high-speed blockchain system suitable for the current internet environment, culminating in the creation of Fognet. However, with only the advantage of speed, it wasn't enough to start a substantial commercial service. Therefore, the Fognet project partnered with key companies like Fognet Inc., Valkyrie Inc., and Karma Lab Inc. to establish a new ecosystem and create an environment conducive to opening the blockchain world.

As a result, the project agreed to build a next-generation SNS platform using high-speed blockchain technology, starting with a pilot service of the highly secure KaramaTalk Messenger. Currently, it boasts over 400,000 users.

After verifying the messenger's potential, the team developed a digital wallet for trading virtual assets based on the highly secure messenger and prepared a content service that facilitates easy payments using virtual assets (coins).

In the internet environment, people often make easy payments for entertainment and fandom. For example, many spend significant amounts on games, and tickets for global stars like Blackpink and BTS sell out quickly despite high prices. Thus, the general consumption pattern shows low resistance to spending on personal enjoyment and fandom. Although some companies are partially entering the fandom realm, large-scale business models have yet to emerge.

Against this backdrop, the team is piloting a short-form video service called "Click" based on the secure messenger, with the official version soon to be released. This platform allows users to support their favorite stars and assist in their growth, while stars can provide more direct fan services in return, creating a cyclical ecosystem.

Based on the messenger fandom platform, the team plans to build and verify a stable, highly secure messenger and payment infrastructure widely used by many, eventually expanding to broader payment areas.

In the future, the aim is to establish an integrated financial ecosystem that goes beyond micropayment systems used in daily life to platforms investing in RWA (Real World Assets) markets. Through these plans, we will lead the future, providing a wide range of financial services from daily payments to diverse investment opportunities, starting from a fandom platform based on secure messenger and digital wallet.