An interview with Kown Seyoung – the CEO of GMC Labs

 

 

Hello. This is GMC Labs.

 

GMC Labs is a fintech company that has developed its own bitcoin-based automatic trading algorithm, which provides a robot-advisor service named Bulligo and is developing an Integrated Financial Asset Management platform that links blockchain electronic wallets and financial services.

 

The contents below are summarized by excerpts from the interviews with CEO Kwon Se-young during crowdfunding.

 

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1. What motivated you to start your business?

Based on the algorithm developed in 2018, it was applied to bitcoin derivatives, and it was possible to achieve excellent returns regardless of the bullish market or the declined market. Based on this, we improved the algorithm and completed the current program.

 

2. Is there any special meaning for your company’s name?

'GMC' is the abbreviated from GOOD MAN COMPANY. The original intention is a company that gathers good people. I also think that the current members are becoming good people (not mean that they were not good people before). The coin ecosystem once flowed in a bad direction, so that many people had a bad impression on it, but we are willing to develop it with good intentions.

 

3. What are your strengths that differentiate you from other domestic and foreign companies?

One of the distinguishing strengths is the rate of return. That is the actual rate of return, not the rate of return on back data. The strength of the it is that it is reliable because it is the data obtained while testing with my personal funds, as well as it provides a stable rate of return.

 

4. What was the most difficult part after starting your business, and how did you solve it?

Initially, I conceived a business with the goal of becoming an asset manager based on virtual assets. However, in Korea, virtual asset related businesses have not yet entered the institutional zone, so there are many barriers to business. In some countries, including Singapore, Hong Kong, and the United States, related systems are in place, so legal asset management business is possible, but it is difficult in Korea now. We want to make the program we developed available to everyone, so we are advancing this project by changing the direction of our business.

 

5. What do you think is your core competitiveness to succeed in your business?

I think it is constant research and development. The core of our independently developed algorithm is to understand the market situation and respond quickly, but as the virtual asset market gradually expands and matures, the areas that need to be responded are constantly changing. We are researching on algorithm that automatically rebalancing as the speed changes along with other service development.

 

6. Do you have domestic or foreign partner companies or partner companies?

At the beginning, we have conducted several projects with domestic and foreign coin-related companies, and we are in cooperation with blockchain electronic wallet development and security related companies. And, regarding Sirius, we are in the process of signing an MOU with the ZB.COM/ BIKI exchanges in China.

*Sirius has been renamed to Bulligo.

 

7. Who is your primary target audience?

The main target audience is those in their 20s and 30s, which are called millennials. They have open minds on virtual assets. However, even in the 40's and 50's, who are showing great interest in financial technology, I think that if stability is highlighted, they can also become a sufficiently large target user.

 

8. How will you use the funds raising through crowdfunding?

It will be used for hiring new personnel. Since centralized services need to be converted to personal services, more personnel need to be added for data and security management, and mobile app development personnel should also be recruited.

 

9. What is your company strategy for the next 3; 5 and 10 years?

We will focus on expanding users of Bulligo in the first three years. There is also a plan for asset management based on virtual assets in Singapore, and I think asset management will be possible within the institutional boundaries of the domestic market in five years. Our goal is to become a Global Asset Management Company in 10 years.

 

10. Do you have anything to say to investors about the Exit Plan (the investment profit-taking strategy)?

Although we aim to become a global asset management company, we are also considering the direction of M&A with existing financial companies. Since technology is important, we are planning to expand our company and proceed with IPO by providing B2B solutions.

 

11. Can you introduce about your team (key employees including the CEO)?

When I was in college, I majored in architecture. So, thinking about how to organize a more efficient space has become a habit of mine. Algorithm development can also be considered as the result of thinking about efficiency. Even now, I am working on more efficient algorithm improvements. Of course, I am working with people who know me best, so that I can focus only on research. My senior high school classmate is the strategy team leader, my college classmate is development team leader and two other friends who showed excellent teamwork when we worked together in the past. Our company was founded with people who are familiar with each other, and together with our staffs, we hope to build a cohesive and harmonious team.

 

12. Last, is there anything you want to say to investors?

The virtual asset (Bitcoin) market is a tiny existence compared to the existing financial market. From the perspective of financial technology, I think it has enormous potential with more and more attention. It is exceedingly difficult for individuals to make profits by investing in stocks or funds that have already become mainstream in the foreign exchange market. But a growing market offers opportunities for individuals. However, on the other hand, since it is a field that is not well known, it is difficult for individuals to decide to challenge by themselves. We will help you with the difficult and troublesome choice. When Bulligo comes to the world and shows its results, investors just need to stand by. GMC Labs' Bulligo will take care of all the worries and difficult choices for you. Thank you.

 

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Please stay tuned for more various services of GMC Labs that will be launched soon.

 

Thank you.

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