One day before the formal release of Samsung Galaxy 10, the Block Media interviewed Song Ho-won, the CEO of Cosmo Chain. The interview was to know the first dAPP installed in the Samsung Galaxy 10 model. The platform covers everything about beauty.
The COSMO Chain is the blockchain-based social networking service (SNS) community about everything about beauty. It started the project last February and completed the initial coin offering (ICO) in March. A formal service began on August 20.
Here are the questions and answers in an interview with Song.
Question: What’s the purpose of the project?
Answer: So many high-quality contents are available on YouTube. Users can pick the best content through voting. Financial awards will be available to creators of the viable contents. Users would show their preferences for essential foundational cosmetics, shades of cosmetics and others. Based on the data, makers would design, develop and marketing. We plan to open a blockchain-based platform to gather data on the beauty industry.
Q: Myriads of contents are available on YouTube, but only viable contents survive. Do you think the same concept would apply to your platform?
A: You know well how many fake contents are on YouTube. You can find the similarities in the Naver search engine. A careful review will convince you that advertising sponsors are behind such questionable advertorial infomercials. We are moving toward the beauty platform only where correct information could survive and informercials would get sidelined.
Q: Do you have any mechanism to filter out contents?
A: So many beauty contents are available, but it is difficult to pick truthful contents. I have been working on the beauty content business for the past four years. My goal of searching for trustworthy contents would not change.
Q: Can you tell me what has changed since you started the blockchain project?
A: Our team has been working with mission and dedication. Users, namely consumers of beauty products, have different opinions and provide feedback as often as possible. We are working on upgrading our platform to deliver high-quality services. User reactions are not adverse. We are popular in the Google Play Store. We are working more now than before.
Q: Any plan on commerce?
A: We have been doing commerce for the past four years. We have a distribution platform. We took over the 11th Street in Thailand. I believe we will do better because we have experiences in the commerce business.
Q: Do you have a user target group?
A: Users are creating 100 percent of our content. Targeting specific groups is difficult. We are eying on all types of content related to beauty.
Q: Do you have any message on the people skeptical over blockchain?
A: Blockchain offers possibilities and opportunities. Many trials and experimentations are possible in the blockchain. Our business is to link everything on beauty products, including branding and marketing. I hope more positive reactions from users.
