Korean Entrepreneur Seizes Blockchain’s Promise to Benefit Humanity

Lester Coleman
October 12, 2018

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WIZBL, a true dispersion ecosystem that optimizes transaction processes and verification speeds so blocks can be handled at 1 million transactions per second, aspires to bring the full democratizing benefits of blockchain technology to society worldwide. The platform, which eliminates data concentration on its central server and reduces central processing unit energy consumption while maximizing security, was inspired by founder and CEO Andy Ryu. He believes blockchain can work in tandem with nature to benefit all of humanity.

WIZBL Coin completed its ICO earlier this year, and the technology has already been deployed to improve resource management in a developing country. The long-term goal is to provide a new global standard blockchain ecosystem based on WIZBL’s Blockchain Real-Time Ecosystem (BRTE).

Ryu did not begin life from a position of privilege. Born in Cheonan, South Korea, he lost his father at an early age and was raised by his mother. He was motivated by his Christian faith to want to bring about positive change to the world.

“I want to be able to help others to live with ease, both mentally and physically,” he said.

A Rising Star

By the time Ryu graduated from college, he was 27, and the Asian financial crisis was ravaging the South Korean economy. He managed to find work at a clothing store, where he was eventually managing franchises, sales, marketing and other responsibilities. By the time he was in his thirties, he had worked in mergers and acquisitions, real estate, a content company and a food franchisor.

Ryu did not pay much attention when he first heard about blockchain technology in 2010. He saw it as another form of digital cash.

“Back then, I was convinced that blockchain was going to be a short-lived trend,” he said. “I started studying the blockchain academically while still convinced that the trend was just going to pass by like a short breeze.”

But by 2017, he was aware of blockchain’s transformative powers.

“Simply put, it improves equality among people,” he said. “Through decentralization in the Data Age, information is shared, wealth is more evenly distributed, and the bias is significantly decreased.”

WIZBL showcases its first institutional video in Times Square, New York

In Search of More Efficient Blockchain

He began working with some developers on creating a more efficient blockchain. Convinced they could make a blockchain that could deliver rewards to more people faster and reliably, Ryu and his team completed the design of WIZBL BRTE in November 2017 and established the WIZBL Corporation in January 2018.

In February 2018, they launched the ICO for WIZBL Coin, and in March, they began developing new DAPPs. Currently, more than 20 DAPPs are being developed or are already in the ICO process, and more are planned for 2019. The WIZBL Mainnet launched in September.

“Now, our new blockchain technology is ready to be used in not only the financial and industrial sectors, but also in our personal lives,” Ryu said. “We are continuing on the road that bitcoin and Ethereum have paved before us. As people think of Coca Cola when they think of cola, we want to make sure that people will think of WIZBL when they think of blockchain in the future.”

Ryu thinks WIZBL BRTE is on track to complete its goals in three years.

“The creation of WIZBL BRTE has truly been a revolutionary event,” Ryu said. “Whereas transaction speed used to be a massive problem for blockchain, we were able to raise the speed to 1 million transactions per second. It truly is a splendid achievement in the history of men, and a very fast one, similar to going from the Neolithic Age straight to the Space Age. Our new blockchain technology will provide a framework in which people can become equal by living and sharing everything together.”

WIZBL partners celebrate the launch of Mainnet and listing on two exchanges in New York City.

Improving Natural Resources

One of WIZBL’s partners is currently developing a project called BOT based on WIZBL BRTE that protects water resources such as rivers and oceans and helps those who depend on the resources.

BOT uses cutting-edge equipment such as drones and CCTVs to monitor industrial waste in the Pasig River, which passes through Manila in the Philippines. The information is systematically managed in a blockchain, and coins are paid in order to attract voluntary participation from local people and organizations, thereby enabling continuous participation and preventing fraud. The concept has attracted a United Nations non-governing organization and gained the participation of a World Bank advisor.

“I think it is safe to say that this blockchain project will combine technology, humanity, and nature altogether,” Ryu said.

Lester Coleman

Lester Coleman is a media relations consultant for the payments and automated retailing industries.