Hello, KOK Family.
Today let’s get to know more about KOK PLAY Platform.
The guest of today’s interview is Young Choe, CTO of KOK Foundation
Before we start the interview, I will briefly explain CTO and the KOK Foundation.
Young K Choe CTO of KOK Foundation is a global computer engineer and an evaluation expert of ICO bench, founder and CEO of Crypto Valley Lab, Inc., and a professor at Yonsei University's College of Technology.
KOK Foundation is a global foundation that composed by top experts in economy, IT, and digital contents.
The foundation operates KOK PLAY Platform that grows into a global service in various fields by utilizing the advantages of blockchain
Great to have you here.
Great to be here
Many people may curious about KOK and how it is operated. So, please inform the KOK Token Economy and its features.
Okay. Before describe KOK Token Economy, let me define what KOK Platform is.
KOK Platform is a digital contents platform enabled by blockchain and AI technology.
I will describe more in detail later time.
It is a blockchain of course, it has token inside.
Token economy is very importance to enable the whole ecosystem.
There are actually three major factors of these KOK Token Economy.
First thing of course is the users, holders of KOK Token.
The Second important factor is KOK Token exchanges that KOK Token to be traded.
Third area is DApps, so called DApps that can utilize, consume, and operate their functions based on KOK incentivized model.
There are three role players in KOK Token Economy.
Exchanges, Platform users, DApp Users.
So, three are the basic features of the KOK Token Economy?
If I describe token economy more details, actually KOK Token itself is also currency.
Cryptocurrency but currency.
It follows Fisher’s famous currency equation.
Fisher’s currency equation is described like this.
It has four parameters. M is the total amount of Money.
V is like more a velocity money flows.
In simple terms, how many times it changes hands within a period of time. For example, ten dollars’ bills. It goes to ten people’s hands in a day. Then 10 is the V.
How many times it changes hands. That is the V.
Third parameter is P. P is price level.
The fourth parameter is T. T is transaction, a total transaction. The Fisher’s equation describes like this. PT equals MV. Let me describe how those four parameters relate.
Fisher’s Equation looks like this. P, price level. T, transaction volume. Equals M, Money volume, and a velocity as I said. The question, the price or value of KOK Token could be related like this. 1 over P value of token. P is a price level. And one over P is value.
T over MV. So this is the basic equations that govern KOK Token Economy. It applies the almost same. As I said, to increase value, we need to control three parameters.
So M as I said, total token supply, money level. T is transaction. V is number of changing hands.
So, by increasing this T, that means we make the places and exchange more and more get that increased T,
If we limit and contain number of KOK Tokens supply, V that is the beauty of the equation.
By staking, we can contain and limit the number of hands changing, it’s the way we increase the value of token.
Interview Part.2 to be continued.
Please watch the next part of the interview.