COINKO & ‘azit’ Interview
The Synergy of PropTech and Blockchain
‘azit’ is a blockchain-based, point integration platform for real estate and residential services. ‘azit’ provides a service that allows users to conveniently use points as they see fit for residential services related to real estate or community facilities by integrating points that can be used anywhere.
Welcome to ‘azit’!
Today, we will share an interview hosted by Coinko which is a Bitcoin Trading company that has over 50,000 followers on their Telegram channel. In this interview, we will show the benefits of PropTech and how the ‘azit’Alliance will use it. Also readers can understand what our goals and plans are for the future. Read on for more details.
Interview
Coinko: Hello, this is Jerome Kim and I will be interviewing you today.
Today, ‘azit’ CEO Nam Haram will talk about the synergy between PropTech and blockchain technology.
Before proceeding with the AMA, CEO Nam, please briefly introduce yourself.
AZIT: Hello, this is Nam Haram from People’s Tech. I have been working as a business marketing and PR communication specialist in the gaming industry for over 10 years. Over that time, I’ve worked with exciting projects such as Nexon and PUBG. I have also gained a lot of experience by participating in various projects such as the FIFA series, Maple Story, Dota 2, and Battleground specifically. I am the CEO of People’s Tech, which is working with the ‘azit’ project. When I was in the gaming industry, I was interested in cryptocurrency because I recognized the value and growth potential of virtual assets early on. I started ‘azit’ to overcome the limitations of the current point systems and provide a solution.
Coinko: You have a lot of experience in various fields. Since you have worked as a specialist in the marketing and PR fields, it seems like the ‘azit’ project has been getting an exceptional amount of attention from its users even before its release!
However, there will definitely be users who are learning about the project for the first time through this interview. Could you give them a brief introduction to ‘azit’?
AZIT: The ‘azit’ project is a platform that combines PropTech services into one place and allows users to freely use blockchain-based integrated mileage for services they want. In other words, ‘azit’ integrates the mileage scattered by PropTech companies that provide residential services (such as real estate contracts and moving, cleaning, and interior design services) into one place where participants can use them when and where they need them. The biggest advantage is that ‘azit’ has no competitors right now because there are currently no platforms that provide integrated mileage in the PropTech field. The ‘azit’ project is focused on providing benefits to both users and participating companies in order to increase the number of places where integrated mileage can be used and to connect services more easily using blockchain.
Agenda Q&A with Coinko
Coinko: Great! I am really looking forward to the synergy from these two projects working together. I’m also excited about the future of this PropTech X mileage meeting. Let’s learn more about the value of these companies together!
Now, let’s start the Q&A session.
First of all, the word PropTech might seem unfamiliar to some cryptocurrency users. Can you explain what PropTech is?
AZIT: PropTech is a combination of “property” and “technology,” and refers to modern residential services. In Korea, there are various companies like Dabang (real estate services), the Cleaning Research Institute (cleaning services), Laundry Go (laundry services), and Home Decor (interior decorating services).
The reason we use blockchain technology is to more efficiently link the partner companies participating in the ‘azit’ Alliance. It also ensures transparency through smart contracts on where and how the integrated mileage within the ‘azit’ platform will be used. Traditionally, in order for two or more companies to exchange mileage with each other, they had no choice but to share huge resources and sensitive information about their company. If you use APIs with blockchain technology, you can link companies more efficiently and privately.
Coinko: Wow, that’s great.
Dabang is the largest real estate brokerage platform in Korea and is a particularly familiar application to Korean users. Since it has partnered with this platform before launch, I think it will be an opportunity to get a glimpse of how strong the project is. In particular, being able to transparently manage and share the points and mileage of various companies, like Dabang, in connection with the blockchain will create synergy between various partners.
Next, could you explain the structure of the ‘azit’ platform and how the tokens can actually be used?
AZIT: On the ‘azit’ platform, there are ‘azit’ tokens and each partner’s Blockchain Mileage (BM). Each partner’s existing points are linked through API. Therefore, transactions are conducted between AZIT token and Blockchain Mileage, and when users sell AZIT token, they get the benefit of receiving more Blockchain Mileage at a discounted rate. The reason for this is that each partner’s Blockchain Mileage can only be used in the partner’s service unlike the AZIT token, so its use value is relatively low compared to the AZIT token. The exchange rate of AZIT token to Blockchain Mileage is determined by the supply and demand for the transaction and its own algorithm.
To give an example of practical use, when a user purchases USD 1 worth of AZIT token from an external exchange and exchanges it for Dabang’s Blockchain Mileage, he or she receives an additional benefit of USD 1.10 worth of Dabang’s Blockchain Mileage. They can then exchange it for Dabang’s existing points to use their service. Conversely, let’s say you made a payment at a coffee shop and received that coffee shop’s Blockchain Mileage as a reward. Now, if you want to use it for another partner’s laundry service, you can exchange it for AZIT tokens and change it to the laundry service’s Blockchain Mileage to use the service. Alternatively, you could sell the AZIT tokens to an external exchange for cash.
Coinko: The token metrics of the project are also very interesting. It is very impressive to try to minimize the exposure of personal information by managing the personal information separately by not integrating the BM of each project.
In addition, there may be concerns that the value of AZIT tokens may decrease if points are unilaterally exchanged for tokens. It is very encouraging to try to solve this through an algorithm that adjusts the ratio when exchanging BM and AZIT tokens.
Coinko: Thanks for the detailed replies.
Now, it’s time to answer questions from users! 679 users submitted questions about azit! Does this mean that users are interested in this project, or at least have heard about it before?
AZIT: Thank you for your questions. They were interesting and there were so many good questions that it was hard to choose.
Coinko: I’m glad to hear that! :) Let’s get started!
User Q&A
Coinko:The ‘azit’ project is focusing on residential services, but it seems that the range of residential services is wider and more diverse than many people think. For example, you could use ‘azit’ in partnership with a construction company or a sales company in the future. Even if you could not go to the hospital because you were sick, telemedical services that allow you to receive treatment and medicine at home could also be provided in the same service.
In addition, we might even consider other various types of services such as online lectures, audio book services, or pet services that can also be performed in a socially distanced way.
Coinko:
Q2) @JadaTuck
Many projects are focused solely on token sales rather than actually contributing to the blockchain arena. What problems can ‘azit’ actually solve?
What is your strategy for marketing and attracting new users? How do you rate the community’s support?
‘azit’: In terms of the market, we paid attention to the increase in single-person households and the PropTech services that are growing in proportion to it. We started the ‘azit’ project to find a solution for the mileage system that is still underutilized today.
From the customer’s point of view, the use of the existing mileage system is limited, the value of use is low, and therefore, in most cases, it cannot be used properly. The company that makes the mileage system spends a lot to build it, but as customers do not use it properly, the efficiency decreases and the maintenance costs increase.
To solve these problems, we are building ‘azit’, an integrated point system platform. With integrated points, customers can freely use their points for any service they want, and companies can share traffic with each other as well as reduce the cost of deployment.
The influx of new users will attract the attention of traditional companies with a strong user base, like Dabang, to be partners with the ‘azit’ Alliance. It is expected that ‘azit’ will also grow as the number of partners increases and the volume of traffic increases.
‘azit’ is planning various promotions for its launch, and details will be shared later when it’s all ready. We are also planning to carry out joint marketing with companies that have existing services like Dabang, so you can expect a lot. In addition, we take the constructive feedback from the ‘azit’ community very seriously, so we will continue to collect the community’s opinions before and after ‘azit’’s official launch. We will actively communicate with investors and supporters interested in ‘azit’.
Coinko:
Q3) @FloriaStanley
Most people only care about the short-term value of tokens and not the long-term. What are the benefits of and motivations for holding ‘azit’ tokens for a long time?
How do you plan to get people to adopt ‘azit’ and use it on a daily basis?
‘azit’: There are several ways to increase and preserve the value of the ‘azit’ token, but the most important method is to increase the practical use of the ‘azit’ platform, which includes real estate contracts and moving, cleaning, and interior design services. The value of ‘azit’ tokens will increase as the actual uses of ‘azit’ tokens in daily life become more diverse.
For example, there are services that are are only used after signing a contract, while others are used daily, such as laundry and cleaning services. Consumers can freely use points that have been wasted because it was difficult to use them before they expired. They can also receive additional benefits and discounts on the ‘azit’ platform. As such, we are constantly recruiting several large partners to add to the long-term value of the ‘azit’ token, which will be released sequentially.
Coinko:
Q4) @MervinHunte
How big is this project and what are your long-term goals?
What are your plans for global expansion? Are you currently focusing on just one market?
‘azit’: The ‘azit’ project started in earnest in 4Q 2020. The short-term plan is to strengthen the ecosystem by recruiting PropTech partners in the Korean market. After successfully settling in the Korean market, the long-term goal is to incorporate our business model around the world and recruit overseas partners to target the global market.
Like Korea, the overseas market will form partnerships with PropTech companies representing real estate and moving, cleaning and interior design services. We are considering global expansion into North America, Europe, and Asia. In the short term, we plan to focus on launching the ‘azit’ platform and providing stable services this year. We will focus on expanding overseas after 2022.
In addition, the current ‘azit’ platform is not much different from the point of view of actual users from the outside. The goal is to make it easy for anyone to use, even if they are not familiar with cryptocurrency or blockchain technology.
Coinko:
Q5) @MarinKendrick
I’m curious about the name of your project, could you tell us where it came from and how it relates to your project in general?
‘azit’: Regarding the name of the project, I thought about the feelings that come to mind when I hear the word “‘azit’.” In Korean, it refers to the place I always met with my friends when I was young, a place with strange excitement. I don’t know exactly what it is, but it’s a comfortable place where something interesting will happen. Now that we have grown up, our ‘azit’ is usually our home. My precious space has become an ‘azit’. Our goal is to provide various residential services with benefits so that each person’s precious ‘azit’ can be decorated as comfortably as possible.
Coinko:
Q6) @TresaGrace
What is ‘azit’’s revenue model? How will you generate revenue or profit?
Don’t old and new blockchain projects promise the same thing to users, customers, and businesses?
‘azit’: People’s Tech’s main profit structure is a fee that is generated whenever an exchange occurs between ‘azit’ tokens and Blockchain Mileage. These fees will be used to maintain and operate the platform. In conclusion, if we create a strong and healthy ecosystem, more people will use the service. People’s Tech’s number one goal is to create a healthy PropTech ecosystem in order to continue its operation.
Blockchain technology continues to evolve, and in the process, DeFi and NFT companies provide similar services by following trends. Our goal is to provide a service that is actually useful to participants.
Coinko:
Q7) @TamioStep
Can you tell us about the team that is developing ‘azit’? Have you worked together before? Is it a global team?
‘azit’: The members who started People’s Tech have three co-founders, including me. As I said at the beginning of the interview, I have been specializing in business marketing and PR communication in the gaming industry for more than 10 years. COO Hwang Yoon-jung worked as an expert in various fields such as strategy, planning, marketing, and human resources for 11 years at Samsung Electronics. In addition, our CTO Baek Jae-hyun, has been researching SW development and cloud-based digital transformation strategies for more than 10 years.
We met through acquaintances, but we got along right away and had a passion for starting a business. Seeing the growth potential of the PropTech market, we created People’s Tech. We started the ‘azit’ project because we were confident that we could provide greater value and benefits to our customers by solving the chronic problems in the existing mileage systems.
Coinko:
Q8) @JasperEarls
When will ‘azit’ be listed on Coinmarketcap or CoinGecko?
As you know, Covid-19 has had a huge impact on the crypto market. So how can your company sustain projects and support hard-working teams during the pandemic?
‘azit’: ‘azit’ will register for cryptocurrency information services such as Coinmarketcap and CoinGecko after being listed on the exchange. It is unfortunate that many people are going through a hard time now with Covid-19. It has affected the crypto market in different ways. Our team members are leading the ‘azit’ project in a difficult environment and are doing their best to make it a successful project.
It is true that there have been a lot of businesses affected by Covid-19. Because of this, all industries have been changing little by little. Since the onset of Covid-19, the overall time people spend at home has increased. As a result, the use of residential-related PropTech services have also increased. It seems like a good situation for users.
In particular, in Korea, the number of single-person households has increased dramatically over the past few years, reaching nearly 10 million households. As the number of single-person households increases, the demand for PropTech services is also increasing. Therefore, we are actively discussing ways to collaborate with companies related to single-person households, and we plan to turn this negative situation caused by Corona into an opportunity.
Coinko:
Q9) @Aryndra07
Why did ‘azit’ Alliance choose Klaytn (KLAY) over Ethereum (ETH) or BSC (Binance Smart Chain)? What are the constraints on high gas costs and problems with both networks? What about Solana?
‘azit’: In the case of Klaytn, there seem to be several advantages. Through Klaytn’s API Service (KAS), the use of public blockchain technology is highly accessible, which increases our productivity. We can quickly assess the requirements of the market, so that we can focus more on developing a private blockchain and planning our business.
Klaytn’s processing speed is also faster than Ethereum. This is especially important for ‘azit’ because the partnerships and interworking between app-related services must be quick. Further, considering the linkage with KakaoTalk Clip (Klip), one of the most universal apps, it has superior accessibility for our users. Our team chose Klaytn because of those reasons. It is expected that Klaytn will become a tool to innovate the rapidly growing fields of PropTech and blockchain.
Coinko:
Q10) @PhylissOliveira
Projects that are not traded on major exchanges are difficult to be noticed by users. What do you think about listing ‘azit’ on major exchanges?
What are the future plans for ‘azit’ in this crypto world? What are three unique features that competitor projects do not have?
‘azit’: It seems that one of the things that many people are very interested in is when we will be listed on an exchange and which one it will be. I know you’re curious, but listing-related matters are the same for all companies and exchanges. There is not much we can say at the moment because a Non-disclosure agreement (NDA) has been signed. However, internally, we believe that listing is an essential element for the growth of the ‘azit’ project, and we are communicating with several exchanges.
One of the best features of the ‘azit’ project is that there is currently no competitor in the field of PropTech that offers a practically commercialized integrated point system. In addition, services in the PropTech sector are more interconnected than other industries.
For example, entertainment and leisure-related services are based on a choice. You can use their services if you have time or not. As for residential services, however, there is no choice. If you sign a real estate contract, you have to move, you have to clean your house while you move, you have to redecorate, etc. When you settle down, you will use life-related services such as laundry, early morning delivery, or companion animal services. Then, it’ll be time to move again.
This means that a value chain can be formed within the ‘azit’ platform, where all residential-related services can be used on a one-stop app. For example, customers can easily obtain ‘azit’ tokens with their own Dabang points, and then use them at other companies, such as for washing, cleaning, etc.
Participating partners share the customer pool, can see the overall traffic synergy, and receive support for various marketing activities such as targeted advertisements and customized promotions based on customer data that has flowed into the ‘azit’ platform.
Closing
Coinko:
Thank you for your detailed responses!
I am sure users have learned a lot from this interview. In particular, the users’ fresh and original questions were great as were your answers about pioneering the global market. Many domestic projects are trying to enter the global market, but we understand that they are struggling with language and cultural differences.
However, ‘azit’ believes that this problem can be solved if the members of the team are taken into account. Also, I was impressed by the serious consideration of the entire ecosystem of the blockchain. So I am excited to see what the ‘azit’ token will bring to your platform. Furthermore, the structure of the dual token system is very interesting. This interview was a great opportunity to see how much the ‘azit’ project is growing.
Do you have any last words before ending the interview?
‘azit’: I’d just like to say thank you for the opportunity for this interview, Coinko. Also, I would like to thank the community for their interest and questions. Although it is unfortunate that I cannot answer all of them individually, it was a meaningful time for me to tell you a little more about the ‘azit’ project through this interview. We would like to ask you to keep an eye on the progress of the ‘azit’ project, which has endless growth potential in the future. We will continue to work hard to provide better services and development capabilities.
