LBank AMA Recap with THE9
On 22 February we held an AMA with the THE9, hosted on their telegram channel. If you missed this telegram session, here’s another chance to get a full transcript of the AMA event.
Hello, we are THE9.
I am Jung Jae Wook, vice president of THE9 Foundation.
It is an honor to introduce the THE9 Foundation’s business to you.
et me introduce the company first.
We are a company that produces and sells kiosks for order payment and is the oldest and largest kiosk company in Korea, which has been doing this business for 15 years.
Next, I will introduce the company’s business history with pictures.
In 2007, Korea’s first 40-inch ticket issuing kiosk was developed and supplied to CGV movie theaters in 2010, and from then on, the appearance of waiting in line at Korean movie theaters no longer issuing tickets has disappeared. This was the result of the efforts of THE9 Company members.
As a result, kiosks have been installed in various fields such as MEGABOX movie theaters, Lotteria, Burger King, TWAY Airlines, and tickets for the Incheon Asian Games.
As a result of this business, many kiosk companies were created in Korea and became saturated, and our company entered overseas markets such as China, the United States, Japan, Indonesia, etc. we started supplying kiosks free of charge, not for sale because we planned to provide the customer with integrated mileage services through kiosks installed in various places around the world.
As kiosks were supplied free of charge, kiosks were supplied to more and more places, and kiosks are still being supplied.
Among our partners are Hite Jinro Co., Ltd., Korea’s leading liquor companies, and Kyochon Chicken Co., Ltd., and there are more companies, and we will introduce them one by one later.
- Open your eyes to blockchain and integrated mileage business. -
One of the areas that I was worried about adopting blockchain and developing kiosk payment methods and mileage payment services during the mileage business was transmission speed and transmission fees.
After many trials and errors, we were able to work with the technology of the blockchain company Medium to solve the speed and cost of payment at once with wallet service (payment video), and now we finished the test and are preparing for commercialization.
Next, I will talk about the ecosystem and profit structure of the blockchain mileage business
Amid recent difficulties in small business owners and business owners due to COVID-19 and rising labor costs, employers are installing kiosks with strengths such as labor cost reduction, labor convenience, and non-face-to-face, and consumers are using kiosks for convenience in non-face-to-face and fast order payments.
Here, when a consumer makes a card, cash, or payment through a kiosk, THE9 token mileage occurs.
If consumption is performed where kiosks are installed, it will provide THE9 mileage, which will attract consumers as it can be used anywhere in the country, which will help business owners increase their sales.
Furthermore, gift icons will be presented through kiosks, and a system will be provided to exchange gift icons for products from other stores and cash them in through exchanges
- DEFI -
Let me tell you about THE9’s DEFI profit structure.
The kiosk records big data on sales of each store in detail.
Through this, you can know the sales of each store and the sales volume of each menu.
Through this big data, the foundation learned about popular sales products and the store owners
When store owners need loans, THE9 Foundation can make mass pre-purchase of products at a 20% to 30% discount. And later, We make profits to sell the products through kiosks
We’re going to have a discount event to promote the consumption of the product.
The THE9 Foundation is also a structure that can make profits and distribute profits to holders.
- Local specialties, product direct transaction service -
THE9 has signed contracts with various local governments and production and retail companies.
Products sold by each producer are registered in kiosks, eliminating various distribution processes and creating a business with a structure in which producers and consumers directly trade with consumers.
The commission income from here is one of THE9’s profit structures, and it is being implemented in Jeju Island, Chuncheon City tourist attractions, and Tongyeong City tourist attractions.
- Premium movie theater business.-
Cha Seung-hyuk, chairman of our foundation, was the vice president of Cydes, Korea’s largest entertainment company a long time ago.
And as I said earlier, we have delivered and installed all kiosks in CGV and MEGABOX movie theaters in Korea.
It is closely related to the movie and is also the background of doing this business.
However, due to COVID-19, the large movie theater business is in a slump, and many movie theater operators are struggling. But the reason why we entered the movie theater business is that we are unable to travel abroad these days, so there has been a slight change in Korean culture and that is the culture of hotels and vacations. A culture of replacing travel has emerged in hotels, and the tourist attraction and lodging industry are booming.
We will identify that and miniaturize and luxuriousize existing large movie theaters into premium stores, combine hotels and movie theaters into package products, provide wine, beer, simple food, and drinks, and provide various services such as movie theater rental and proposal. Partner hotels that will join the premium hotel movie theater business will be announced one by one later.
( Customers can order tickets and food and beverage with kiosks in the movie theater.)
That’s it for the introduction of the company and I’ll answer the questions of the questioners.
Wow, that was a really detailed and elaborate introduction. Thanks for that
1. What is your plan in 2022 for project development?
First, we will develop THE9 token mileage and mobile gift certificate operating wallet.
Second, blockchain payment will be applied to all operating kiosks. As a result, our plan is to make coins actually coins.
2. What are your current plans to onboard new clients and what market are you targeting?
It is the answer to the second question.
Currently, coins are rarely used actually.
Our goal is to create a structure in that we provide mileage to the customer and they use the mileage anywhere through kiosks in the world
what happens in the future for me or the long-term guarantee holder to buy and hold the coin instead of the coins that are already in circulation?
Number 3. I’ll answer.
In fact, customers will exchange products with points or buy them with coins. Each product of the stores that have our kiosk will guarantee the price of the coins. I’m sure the price will rise as the number of coin users continues to increase
What are the most unique and amazing features of $THE9? How can I make a lot of money while having a good time? What makes this initiative genuine, and how can the community feel safe and secure?
Number four is the answer.
First, our strength is that we can actually use the blockchain as points when ordering and paying for products through kiosk devices.
Second, it is to increase the inflow of users by continuously listing them on the top global exchanges.
And we are developing a system with the Korea Coin Exchange for direct coin payment of kiosks.
We will prepare for the presentation as soon as possible
5.I want to support your project, is there any ambassador program you are running? If yes, how can I participate?
Guest: Since we are engaged in business activities, we don’t make other promotional activities other than newspapers, news, and THE9’s Telegram room. It is welcoming if you want to support us.
Please contact me.
.I want to support your project, is there any ambassador program you are running? If yes, how can I participate?
Do you have a whitepaper? if yes please share it with us and secondly are you working to AUDIT your project, to make its security more secure and reliable?
[In reply to Anhss Dương]
You can check what’s going on here, and the foundation is running transparently.
So many scam projects do hide behind Tokenomics, statistics & a lot of promise, so I want to ask how can a cryptocurrency user identity a genuine project using your project as a use-case???”
We have a real platform called kiosk, and tens of thousands of devices are actually installed and used in Korea, China, the United States, Japan, and Indonesia.
You can see the kiosk with your own eyes and many people are already using our products
How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates?
• Homepage: www.the9company.io
• Telegram: https://t.me/ninecoin_9co
• Kakao Talk: https://open.kakao.com/o/ghVnvQid
- Twitter: https://twitter.com/THE9_COIN/