Resignation of Klaytn/Kaia Foundation

Hi, this is Colin, I have worked at Klaytn since 2018. I left Klaytn on October 7th, and in this post, I’d like to briefly write about why I’m leaving and what I’d like to do in the future.

I joined Klaytn as a core developer and have been involved in the development of Klaytn API Service, KrafterSpace, Klip Drops, and more. This year, in my role as VP of Strategy, I’ve been working on various aspects of Klaytn’s business expansion and DeFi growth. I’d like to thank everyone who has communicated with me internally and externally over the years.

I believe that the current blockchain ecosystem is still too difficult for the masses to use. The idea of storing private keys or awkward seed phrases and being unrecoverable if lost is too scary for those of us who forget passwords very often. The story of the guy who threw a hard disk with 8000 bitcoins in the trash is too famous.

Is this the only one? People who have been hacked because they signed the wrong thing on a phishing site, people who can’t get their money back because they entered the wrong address, people who have deposited coins that exchanges don’t support and struggled to get them back, people who are told to do something because DeFi is supposed to make them money but they don’t know what the heck to do…

If you go to the community, you can see these stories from time to time. Can we really use such a system? In Korea, Toss revolutionized finance with easy money transfers, and now we don’t even remember how we did internet banking before Toss.

We need that kind of innovation in the blockchain industry. We need a wallet that doesn’t require key management and has an easy UX so that anyone can use it, and I think the process of withdrawing from an exchange, using DeFi, and then cashing out the profits you’ve made should be, and can be, much easier than now.

I’ve thought this problem all along, and now I’m going to face it and solve it through my own business. With the knowledge and experience I’ve gained with Klaytn, I’m going to try to create a wallet that can take the blockchain industry to the next level and make it easy for anyone to use, even if they don’t have the expertise.

Is there anyone reading this and thinking, “Oh, I thought this was a real problem too?” I’ll be posting about the challenges and solutions on this channel, so if you’re interested, please subscribe so you can follow along. Stay tuned, and thank you.