In the world of technology,cryptocurrency and blockchain represent the future. South Koreans are seizing on this opportunity to be at the forefront of the global transition to digital currencies. Malcolm CasSelle,the president of the exchange platform WAX, is taking advantage of South Korea’s adoption of the growing trend.
In fact, Malcolm CasSelle sees the gaming community in South Korea as a test market for making cryptocurrency mainstream. He operates WAX, or the Worldwide Asset eXchange, as a platform that serves over 400 million users in buying, selling, or collecting in game merchandise. As the gaming world becomes global, accepting a standard cryptocurrency would be an appealing option for game developers and platforms such as WAX. On the platform gamers can sell to other gamers without a need to go to a financial institution thanks to the cryptocurrency.
Prior to founding WAX, Malcolm CasSelle held many leadership roles in different companies. He served as CEO for Timeline Labs, Senior Vice President and General Manager of Digital Media and SeaChange International. Additionally, he was once an international entreprenuer. Besides being the President of WAX, Malcom CasSelle is also the Chief Information Officer of OPSkins.OPSkins allows gamers to buy and sell different skins to use in gameplay.
Unlike the majority of transactions today, the need for a company to facilitate the transfer of funds is eliminated when using blockchain. There are other applications for blockchain technology, particularly for businesses, such as tracking supply chain information. The appeal of blockchain is a decentralized platform which makes it nearly impossible to hack as there is no central server to attack. In light of the multiple hacks of large companies and financial institutions, the need for the adoption of blockchain only seems to be growing.
Currently, the implementation of blockchain in South Korea spans the full spectrum of businesses, from the giants like LG and to the small family businesses. With bright minds like Malcolm CasSelle leading the effort, blockchain technology has a promising future in South Korea.