Asia Blockchain Review recently talked to Natavudh Pungcharoenpong, Co-Founder and Co-CEO of Six Network, developer of blockchain platforms and smart contracts to reinvent the digital economy by creating an ecosystem that is transparent, fair, secure, and efficient for all stakeholders in the digital and creative economy. Natavudh spoke about the mass adoption of crypto wallets, SIX token, the ecosystem for SIX Network, and long-term plans for the company.
Asia Blockchain Review: What is SIX Network, and what is its long-term plan for the Thai market and beyond?
Natavudh Pungcharoenpong: SIX Network is a project focused on reinventing the digital economy. We utilize blockchain and smart contract technology to support decentralized financial services while improving wallet-to-wallet interactions. Our project will tackle the pain points of the freelance digital creator by providing them with a new experience of financial services.
We currently have over 10 million users who are active on our platform in Thailand. We can say that the mass adoption of SIX is the long-term goal, which will only happen if we solve their obstacles of creativity.
ABR: How is SIX different from other utility tokens?
NP: Unlike many other projects, SIX Network was formed by big business entities. SIX originated from FSN, Korea’s No.1 digital marketing group, and OokbeeU, the joint venture between Tencent and Ookbee, the biggest UGC (user-generated content) platform in Thailand. SIX was created based on the business experience of top players in their fields and existing infrastructure.
Moreover, the majority of utility tokens are ERC20 tokens, but SIX Network is built on Stellar. Stellar is the fastest and most affordable way to send and is perfectly suited for the thousands of daily transactions we have in OokbeeU. To be honest, even Stellar is not quite fast enough to fully function as a payment system with the 10 million users we currently have.
ABR: What is the Cross-Chain wallet, and how will it impact the use of wallets among users?
NP: The Cross-Chain wallet is a wallet compatible with both on-chain and off-chain tokens. As I’ve previously mentioned, blockchain technology still has a few issues to resolve before it can be fully adapted to existing business models. In our case, blockchain’s scalability is a big issue, because OokbeeU has about ******* daily transactions and even Stellar, one of the fastest blockchains, cannot yet fully function as a payment system.
Therefore we created an off-chain token, SIXR. SIXR acts as the bridge to connect existing businesses with blockchain.
ABR: What are SIX’s plans for 2019?
NP: We are working on both technical and communication challenges in terms of integration with the Ookbee platform in Thailand, linking directly to our 10 million active users. At the same time, we will keep improving the user experience of our product, SIXR (acquired on 19 downloads in 2.5 months).
ABR: In your opinion, when will mass adoption of wallets occur, or is it already happening now?
NP: It is happening now, around the world. This snowball effect will lead to massive change in a couple of years. Leading media companies and regulators are now paying full attention to these new technologies that have the power to shift business momentum overnight.
ABR: When will cryptocurrency go mainstream, and what are the factors for making this happen?
NP: Well, it is difficult to predict the exact time. However, the main factor in driving cryptocurrencies forward is how well the solution of each project or technology company responds to the needs of society. Also, regulators need to catch up to the technology. All of these parties also need to cooperate in rooting out crypto-based scams. Keep an eye on Facebook’s Libra; this will be an excellent case for mainstream adoption.
ABR: How can blockchain and cryptocurrencies gain more trust among average citizens who have yet to adopt these technologies?
NP: Communication & Community: helping to educate people and preventing scams. It will take time for us to change society, but it will surely happen in the near future.
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