ICONLOOP Aims To Boost Sales By 50% In 2020

It’s been recently revealed that ICONLOOP aims to boost sales by 50% in 2020. The firm plans to boost sales with about $14.7 million or KRW 18 billion, according to the reports coming from the Icon.ist.

During a recent interview that appeared in the Korean-language tech new outlet iNews, CEO JH Kim stated that this would allow the company to break through its break-even point.

ICONLOOP will target the public and private sectors

It’s been also reported that ICONLOOP will be targeting both the private and public sectors while at the same time also working hard to expand customers for its proprietary blockchain engine “loopchain” and launching new services.

The same website mentioned above stated that the company has licensed “loopchain” or built systems powered by the engine for Seoul Metropolitan Government, Naver LINE, Kyobo Life Insurance and Korea Customs Service.

More than that, it’s been revealed that ICONLOOP will launch its DID service MyID in Q3 2020.

“MyID is primed for use in South Korea’s financial sector thanks to its inclusion last year into the country’s financial regulatory sandbox,” the website notes.

We recommend that you head over to the original post and check out all the available details there.

ICONLOOP in the news

ICONLOOP has been making headlines a lot lately, along with ICON as ell.

Earlier today, it’s been also revealed that ICONLOOP wants to strengthen MYID via a government-led project.

ICONLOOP will work with four other organizations and companies, including the Electronics and Telecommunications Research Institute.

It’s been also revealed a couple of days ago that South Korea gave electronic documents the very same legal status as the paper ones.

This move is crucial considering the fact that it opens up a new market of about $500 million. This could turn out great for ICONLOOP and ICX holders as well.


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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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