What Lambda256 is building is infrastructure that financial institutions must pass through when they move to on-chain (blockchain-based) finance. Like a transfer hub, it isn't visible, but without it, no one can reach their destination. Lambda256's goal is to be in place as the prepared infrastructure when that era arrives.
Cho Won-ho, chief business officer (CBO) of Lambda256, a subsidiary of Dunamu that operates the virtual asset exchange Upbit, said that when the era of won-based stablecoins arrives, Lambda256 will be the Blockchain infrastructure partner. Lambda256 is an infrastructure and data service company that provides systems enabling financial companies to conduct virtual asset business.
Cho, the CBO, graduated from the Department of Economics at Seoul National University and served for 10 years as head of the overseas business team at AhnLab, leading entry into the cybersecurity market in the Association of Southeast Asian Nations (ASEAN) region. At Lambda256, Cho is leading new businesses in virtual asset infrastructure, including ▲Blockchain consulting ▲security tokens (STO) ▲real world asset (RWA) ▲stablecoins. The following is a Q&A with Cho.
─Digital finance infrastructure is the core business.
Lambda256 serves as a transfer hub for financial institutions moving to on-chain finance. The on-chain world is fast and transparent, but unlike traditional finance, it exists outside regulation. Traditional finance operates safely within regulation but is slow to execute. Lambda256 connects these two worlds. The key is enabling both on-chain execution speed and regulatory compliance of traditional finance at the same time. We help things run well on the Blockchain, while financial regulation and control operate within the existing framework.
─What role will Lambda256 play in the era of won stablecoins?
On-chain data is a public ledger. Anyone can see it, but by itself you can't do anything with it. It becomes usable data only when it is connected to the systems of existing financial institutions. To enable this connection, Lambda256 invested in ontology. Ontology is a technology that links two differently structured datasets in the same language.
Lambda256 applies ontology to Blockchain data to connect it with existing financial systems. Lambda256 is the only company in Korea that actually implements this approach. When stablecoins become a real medium of circulation, infrastructure will be needed in every step where banks issue stablecoins, corporations use them for payments, and financial authorities supervise. Lambda256 aims to take on this transfer hub role.
─What are the key requirements for stablecoin infrastructure?
Customers don't need a "transaction." For example, they need information on when, where, and how much they paid, such as "on the nth, Gangnam-gu convenience store, 3,500 won." But a Blockchain has only on-chain records. To properly build a settlement application (app) or customer interface, this on-chain data must be combined with off-chain payment information.
Blockchain data is a public ledger that exists outside institutions. Anyone can see it, but it only becomes meaningful when combined with data held by financial institutions such as ▲customer information ▲account information ▲transaction history. The core of stablecoin infrastructure is achieving this combination in real time while meeting regulatory requirements.
─What are Lambda256's strengths as an infrastructure company?
We provide everything in one company, from access to on-chain data to legal compliance to virtual asset execution. In Korea, no one but Lambda256 offers these three as a single stack (the components of a technology).
We also process on-chain and off-chain (ledger records outside the Blockchain) simultaneously. The key is connecting the on-chain public ledger and existing financial institution data with ontology, and Lambda256 is the only company in Korea that actually implements this. The technical entry barriers are high, making it hard for competitors to catch up quickly.
─What are Lambda256's future goals?
What Lambda256 is building is infrastructure that financial institutions must pass through when they move to on-chain finance. The era when on-chain data becomes the most important ledger of finance will surely come. In a world where artificial intelligence (AI) executes finance directly, on-chain data becomes the basis for all those decisions. Lambda256's goal is to be in place as the prepared infrastructure when that era arrives.
In the short term, our goal is to become the Blockchain infrastructure partner that financial institutions turn to first when won stablecoin legislation takes effect. In the mid- to long term, we aim to expand into Southeast Asian and Middle Eastern markets, where virtual asset regulations are being rapidly refined, based on a model proven in Korea.