Blockchain will be YouTube for finance, says CEO of South Korean blockchain firm Streami

The use of blockchain technology in finance will have an impact similar to that of YouTube on the media industry, said Lee Jun-haeng, CEO of South Korea-based crypto financial company Streami.

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Fast facts

• He was speaking at Blockchain Week on Friday in Busan, South Korea, explaining that “in the old days, there was a broadcasting station, the mass media, where producers only pushed out contents that were suited to the taste of a bigger audience. “With YouTube, the contents became very much diversified … now [every content] has consumers on the other side of the world, and anyone can produce content.”

• Lee said that with blockchain, more people in different parts of the world can issue financial assets with a few clicks or a few taps on their mobile devices, without going through large financial institutions.

• He added that blockchain has brought financial liberty to consumers in countries with few banks and limited financial services that previously relied on loan sharks and pawnshops.

• Streami operates GOPAX, one of South Korea’s five licensed exchanges that provide fiat-to-crypto services.

• BWB2022, held in South Korea’s second-largest city of Busan over Oct. 27-29, featured guest speakers such as Changpeng Zhao of Binance and Justin Sun of Tron.

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