Samsung-backed Korean blockchain provider startup Blocko, through its flagship product AERGO, offers multinational organizations the ability to design, deploy, and manage digital services on a secure distributed network.
Easy-to-use development platform with stable APIs
The startup provides FinTech companies, public services, and enterprises a stable and secure blockchain operating system and an easy-to-use development platform with stable APIs. AERGO allows companies to easily implement and integrate a wide range of blockchain-based use cases that increase data integrity and open data silos using a hybrid blockchain.
Blocko is emerging as a leader in its field with the industrial-scale adoption of its proprietary technology stack, Coinstack, which has been deployed across multitudes of use cases including distributed storage, supply chain management, identity, single sign-on, transaction settlement, and more for conglomerates like Samsung and Hyundai.
“Blocko has provided customers strong security and reliability in their IT systems throughout vast business environments but commercializing blockchain technology on a large-scale,” Jinsok Lee, co-CEO of Blocko told media. “We plan to continue on this path of delivery and innovation by creating a new open-source public blockchain platform to expand our market in services and geographics.”
Strategic partnerships and accolades
The commercial blockchain platform startup was founded in 2014 and since then has built many strategic partnerships in South Korea. Blocko has provided its Coinstack platform to Korea’s JB Bank, Lottecard, KISA, Paygate, and others. The startup has collaborated with leading research institutions like Electronics & Telecommunications Research Institute (ETRI) for developing cutting-edge consensus algorithms. The startup has even won the consensus of Bank of Korea, the central bank of South Korea, when it facilitated micropayments for the bank for a total duration of two months last year.
The startup has recently signed an MoU with Hyundai Motor Group’s ICT subsidiary Hyundai AutoEver for tracking the history of used cars available for purchase while developing and promoting various businesses in the automotive industry. In 2018, the company had won the grand price in the digital category for the 2018 Korea Brand Awards sponsored by Korea Marketing Association for its competitiveness and exceptional customer value.
Blocko is primarily backed by Samsung Venture Investment Corporation from whom it had raised $1.3 million in Series A funding in July 2016.