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| Blockchain Labs co-CEO Lim Byung-wan speaks during a press conference at Lotte Hotel Seoul, Monday. Courtesy of Blockchain Labs |
By Park Jae-hyuk
Blockchain Labs, the developer of the world's first COVID-19 vaccine pass app, COOV, held a press conference on Monday to announce its launch of the world's first decentralized instant messenger app, Blockchat.
The free messenger app is currently available for download on the Apple App Store. Android users will be able to use the app by the end of this month.
The startup said that Blockchat creates each individual's own blockchain ID to connect the users directly, based on its patent technology.
The company pointed out potential risks inherent in conventional messenger apps, which rely on centralized main servers, such as KakaoTalk, Telegram and Facebook Messenger.
According to Blockchain Labs, its new app is safe from personal information leaks caused by cyberattacks on main servers and from communication malfunctions stemming from fire and other accidents.
"Blockchat users will be free from unwanted ads sent by messenger app operators collecting user data," a Blockchain Labs official said. "In addition, the users can avoid the invasion of their privacy."
The company also emphasized that its app can prevent cybercrimes like the "Nth Room" case, as it does not disclose each user's blockchain ID and connection code to a third person.
"Nth Room" refers to a criminal case involving blackmail, cybersex trafficking and the spread of sexually exploitative videos via the Telegram app between 2018 and 2020 in South Korea.
In response to a question about how the company will make profits from the messenger app, Blockchain Labs co-CEO Lim Byung-wan told reporters that his company developed the app to prove that cryptocurrencies are not the only purpose of blockchain technology.
He added that his company will export its blockchain-based certification services to other countries.
