Zero to One with Kardiachain-Pt 3
The road to mass adoption
Welcome to part three of the series,
In the previous articles we have looked at Kardiachains stand-out technology, the target markets for this innovative tech and also touched on some of the positives that may result from partnerships made within the blockchain space.
In this article I will focus on the case for mass adoption of Kardiachain in Vietnam and surrounding South East Asian nation markets. We will look to real world alliances that have already been formed and attempt to better understand the implications of these collaborations for the KAI token itself.
Lets begin with one of Vietnam's largest conglomerates, Geleximco Group
The Group has constructed, and successfully operate, large scale factories such as An Hoa Pulp Factory (capacity of 130k tons/year) and An Hoa Paper Factory (capacity of 140k tons/year) in Son Duong. They also have two huge cement factories producing 2.3 million tons annually.
Thang Long Thermal Power Plant, owned by Geleximco (image above) with the latest technology and environmental quality standards is the largest private thermal power plant in Vietnam.
In partnership with GE (General Electric Company, $107bn mkt cap), Thang Long Geleximco aims to constantly innovate to stay ahead of the market, technology is vital in industries where competition is strong and its fine margins that win out in the end.
Kardiachain based solutions will likely become key, for partners, in ensuring dominance over competition. Blockchain will reduce costs in supply chain management and also offer up to 90% cost reduction to customer on-boarding processes.
Providing power for almost 3.5 million households in Vietnam just shows the reach of this single branch of Geleximco.
Finance and Banking
Currently, GELEXIMCO is a founding shareholder and co-owner of various leaders in finance such as -
An Binh Commercial Joint Stock Bank, An Binh Securities Joint Stock Company, An Binh Securities Investment Fund Management , Joint Stock Company, An Binh Financial Investment Group Joint Stock Company.
In reviewing these various financial entities owned by Geleximco I sought information that would help point me towards possible use-cases and the desire of ABBANK to attain advantage in the market by ensuring the most efficient and productive solutions are available to them.
I downloaded the various public documents available, AGM minutes , Annual reports and also development plans. I wasn’t disappointed, they have a clear vision and understanding of the market changes approaching and have been proactive in their planning, below is a short exert that could easily be considered a call for blockchain -
I found the above to be very telling and offered confirmation of a trend that will eventually reward “Zero to One” technology solutions like Kardiachain with a gateway to mass adoption.
I will dive further into the specifics of application in regards to the banking sector when I offer thoughts on Decentralised Digital Identities. One sentence that provided notable strategic insight worthy of further thought was;
“. . an incubator program with the expectation of finding many new solutions for the bank itself and(to) better exploit customer capital -information the bank owns”
Is this a suggestion of monetising customer information? We can explore the possibility of what DID will look like later in the article.
High tech agriculture
Earlier in the series we looked at the interests Vietnam has in improving operational efficiency in rice cultivation and other agricultural markets. A vital cog in the economic mechanics of a nation once entirely dependant on farming and agriculture, it cannot be overlooked or left behind as the nation advances technologically.
Innovators like Geleximco will focus a lot of capital and effort to providing the very best in production techniques.
Industry 4.0, along with Web 3.0 (Blockchain) is increasingly affecting many fields, the opportunity to apply new-age technology in agriculture, contributing to increased productivity and product quality is expected to increase sharply in the coming years.
In addition to a 100ha shrimp pond project, GELEXIMCO Group has also recently invested $52m in high tech rice cultivation, aquaculture and seafood farming.
This industry is reliant on effective supply chain management, which is something Kardiachain will potentially have a huge positive influence on for Geleximco. It is no secret that supply chain management is considered one of the prime beneficiaries of blockchain based solutions.
With property assets spread across Vietnam valued in the billions, eco-friendly development and smart cities are high on the agenda for this ambitious and forward thinking behemoth of enterprise.
As leader of this huge Vietnamese market monster, business acumen and a plethora of diverse strategies have made Vu Van Tien an uber successful man of many industries.
The fact that he personally overseen the creation and subsequent signing of the recent “Memorandum of Understanding” between Geleximco and Kardiachain can only offer vast amounts on confidence and encouragement to both the Kardiachain team and investors alike.
It really is a testament to the years of hardwork by the tech team, proof of their fantastic ability as developers. They can be extremely proud to have achieved the backing of such a well respected and influential market leader.
We should not forget that there are many projects out there with excellent tech who never gain such real world traction, this is where special praise must be given to the management team and most notably Head of Business Development Son Nguyen, for sealing such an incredible opportunity at this early stage.
It certainly bodes well for the weeks, months and years ahead.
A partnership of monumental proportions for Kardiachain
I hope that the company background discussed so far has helped readers gauge the true potential of this newly forged allegiance between two pioneering Vietnamese organisations.
Below is an exert from the announcement article published by the Kardiachain team here -
Hanoi General Import Export Company (GELEXIMCO) was established in 1993 directly under approval of the Vietnam Prime Minister at that time. With over 25 years of operation and development, Geleximco has made great strides to quickly become one of the leading economic groups of Vietnam.
The MoU has been signed by Vu Van Tien, Chairman & CEO of Geleximco and Son Nguyen, Head of Business Development of Kardiachain. The partnership aims to integrate blockchain into Geleximco various businesses. Most notably banking, real estate, construction and agriculture industries.
Possible applications and use cases in the very near future include:
Decentralised ID solution for An Binh Bank (ABBANK)
Supply chain management for AnHoa Paper (Paper manufacturing)
Smart city solution for An Binh City (residential areas)
Geleximco and KardiaChain have agreed to enter into a long-term working relationship:
KardiaChain will leverage our highly experienced tech team to develop hybrid blockchain solutions (KardiaChain ADapps) for the many of the Geleximco’s daughter companies, including some of the most notable firms in Vietnam in various diverse industries.
KardiaChain’s cutting-edge technology will bring Geleximco improved operational efficiency, ensure the highest security, transparency and other benefits from blockchain technology
Geleximco will pool all resources at its disposal to support KardiaChain with a long-term goal of making KardiaChain a major blockchain platform for enterprises in Vietnam and South East Asia.
The agreement gives us a massive insight into the future use-cases Kardiachain will be able to provide for South East Asia’s largest entities both public (Government) and private (Enterprise).
Kardiachains unique technology, seamless interoperability and ease of use can facilitate the unlocking of huge economic value for its partners and users, which of course will drive incredible levels of demand for the KAI token.
(Decentralised) Digital ID
The statistics below are from a study conducted by The Bill & Melinda Gates Foundation into the value of DID.
The next two years will see some of the most accelerated evolutionary changes experienced so far by public stakeholders and their partners in the field of secure digital identity.
In particular, these changes represent essential considerations for authorities that want to make digital identity and on-line services (particularly mobile services) defining features of their modernisation processes in the years to come.
Kardiachain have teamed up with Coinplug and formed part of the MyKeepin Alliance. This tech collaboration will offer both parties access to key knowledge bases and partners in the identity/blockchain space.
Expect to see:
Mobile communication dominate
I.D. will become ever more mobile. Of course, it doesn’t take an expert to recognise we’ve entered an era in which mobile connectivity dominates. But it’s worth emphasising that the trend shows no sign of abating. And the implications for digital ID are profound.
Rumours have continuously circulated of collaboration with Vietnam's leading ‘Telco’ provider and Kardiachain, the team have confirmed the rumours to be true on multiple occasions but as with any commercial venture, non disclosure agreements are in place until the time to announce is upon us.
Kardiachain and their partners (undisclosed) are rolling products out in Q4 of this year which will give access to an already established userbase of 60m+. Those users will have a payment gateway enabling the purchase of KAI with their mobile phone balance.
- 52% of global internet traffic is mobile according to Statista. Mobile devices (also including tablets) are now the primary means of accessing the internet for users.
- Google as a leading indicator in tech trends, are steadily moving towards a mobile-only world.
The lesson for all digital ID stakeholders is clear: prepare for mobile-first solutions.
DID & Smart cities
Around the world, the shift of populations to urban environments is already one of the defining trends of the 21st century. Inevitably, technological developments are becoming inextricably linked with this mass migration.
The digital or the smart city is becoming the model that ensures consistency in all the links between urbanites, their wider communities and public authorities. This model includes, of course, eGovernment or mGovernment, within which digital identity is the key that unlocks the individual’s access to a rich array of services and support.
By their very nature, smart cities are mobile environments. The digital ID will, therefore, represent the ‘virtual umbilical cord’ that continuously links each individual to their public and social life.
Public supervision will be critical to sustaining growth in the digital economy
Faced with an increasingly challenging economic landscape, governments are inevitably searching for new opportunities for sustainable, harmonious growth.
As regulatory environments take shape, close collaboration between the financial world, central and local public authorities and digital communications operators will support effective solutions and implementation of best practices.
Kardiachain have government officials onboard with the project, together they are focusing on creating blockchain regulatory frameworks that will encourage growth and development.
Of course, the real source of new business opportunities is not digital identity itself, but the myriad of applications it enables. This domain is where banks and other operators will see a bottom-line return on their investment. Kardiachain will provide the education, technology and platform for these market participants to launch “aDapps”, creating large demand for the KAI token and ensuring exponential growth of the network.
It is a win-win for all.
Moving on from theory to proof-of-concept: I believe 2020 will be the year of proof-of-concept for the blockchain in public services — specifically in areas such as e-government, and health care.
From proof-of-concept to pilot: As Kardiachain moves from a proof-of-concept technology into secure and interoperable solutions with new standards, the “years of the pilot” for digital driver’s licenses, digital credentials on mobile, and virtual/digital cloud passports.
From pilot to implementation: Countries will move more quickly than expected, and we could reach a tipping point over the next 24 months pushing Kardiachain and this technology ever closer to critical mass.
We’ve considered the possible use cases of Kardiachain with Geleximco and its multiple daughter companies aswel as look at the immediate need for government and financial authorities to get ahead of the trend for blockchain.
Due to the depth of partnerships Kardiachain has forged to this point, I have decided to continue the Zero to One series into Part 4 and beyond. Part 4 will look to LG CNS, smart cities and future moves into South Korea and beyond.
The project rarely offers investors any rest bite, I am pretty certain that by the time I have finished writing the 4th article this industrious team will have announced another major development.
I will leave you all today with this informative video on Vietnam and its macro economic bullishness.
Thanks for reading,
Tips are very much appreciated at KAI address-
Donations will go to a good cause of the Kardiachain communities choice. Thank you in advance to those who contribute!!