Delio CEO James Jung “DeFi will become everyone’s finance, and change lives”

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Last year, the blockchain business that attracted attention with the rapid rise of Bitcoin is ‘De-fi,’ a decentralized financial service. Delio is a blockchain project that provides the most active DeFi service in Korea and operates a crypto finance platform that enables crypto asset deposit, lending (loan), and management.

Delio CEO, James Jung started a business in his late 20s while working as a programmer at a large IT company. He has been engaged in various businesses such as online platform, e-commerce, IT system development, and digital marketing agency. After doing business in various fields, he naturally came across blockchain, one of the IT technologies.

“As a developer, I was fascinated by blockchain’s colorful technologies, and as a CEO, I once again fall into philosophical and social values of blockchain. Blockchain is very different from other IT technologies and will change our lives.”

James was attracted by the fact that blockchain technology can transcend the limits of the Internet. When the Internet first appeared, it seemed that there was no limit, but as time passed, the platform monopoly was deepened and problems such as forgery, alteration, and hacking encountered limitations in terms of scalability. On the other hand, blockchain has opened up the possibility to complete systems that require trusts, such as online voting, finance, and assets.

Currently, Delio is participating in the DeFi project ‘DUCATO’ with several blockchain experts and companies as an experiment on future decentralized finance. Through these activities, James said, “I want to build a blockchain financial infrastructure that anyone can easily participate and access in a macroscopic view.”

Delio has completed the development of the underlying technology for DeFi service in 2019 and has been providing crypto asset platform services to members. Last year, the number of transactions increased significantly, and TVU (Total Value Utilized), which is the value of Bitcoin utilization, exceeded 640 billion KRW, and the performance also increased significantly. As a DeFi service company, James is determined to expand globally this year as it has entered the growth stage beyond the initial stage.

“Looking back over the past year, I think Delio is a company that has endeavored to provide the most advanced and experimental blockchain financial platform in Korea.” We are building technology and methodology and creating an ecosystem.” “For example, in the case of Delio’s lending service, we applied ‘remote collateral setting’ technology that allows users to remotely lock a user’s wallet and rent bitcoins.”

The service has also been diversified from lending to deposit, wallet, yield farming (reinvestment), and liquidity (for institutions) services. Cooperation with global blockchain companies such as Ledger, Bithumb, Bybit, FTX, Bitfury, and collaboration with business partners are also increasing.

James said, “If a new DeFi service is opened in the first quarter of this year, we are expecting to receive good reviews in the market.”. Additionally, he is also working hard to enact the ‘Crypto Asset Business Rights Act’ of the Korea Crypto Finance Association (KCFA), which is driven by Delio.

“Currently, there are difficulties arising from the lack of complete laws and systems related to blockchain and crypto assets”.

Although the value of blockchain and crypto assets are recognized around the world, crises and opportunities coexist in Korea. Regarding this, James said, “Korea’s regulation is not strong, but it is becoming more and more Galapagos because it is separated from the global market with negative views.”

He pointed out that “the government is investing and supporting a lot for the development of blockchain technology, but there are many evaluations from overseas that Korea’s level of blockchain technology and innovation are lacking.”

James concerns “Overseas, while the proportion of crypto assets investment by institutions and corporations is increasing, Korea is still stuck in a market centered on individual investors due to institutional barriers, so its global market share is gradually falling to 10%.”

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​[Delio Official Websites]
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