Chapter 53

Damn you swindlers. Cloud computing. It was an area that Amazon, Microsoft, and Google were pushing ambitiously. A promising industry that grows tens of billions of dollars in the United States alone, and even more than 30% annually. These days, companies do not have server rooms to operate websites or shopping malls. We signed a contract with a large cloud computing company to solve everything from running the website to obtaining the necessary system resources. Even for Netflix, it was enough to get rid of its server and use Amazon’s cloud service. A field with endless potential for future growth. ‘I was going to help Bio-Life with my computing power based on blockchain technology.’ How did you start your business like this? I was admiring Earth Resources every day, saying that they are growing very quickly. “It’s called cloud computing.” Oh Myeong-woo also showed signs of serious concern. It seems that Eddy’s words came as a shock not only to me, but also to Myung-woo. “Myungwoo, can we do it?” “Well. Wouldn’t it be worth a try?” “Okay?” The response was much more positive than expected. “It’s not too much if you grow up step by step. If you have your data server, you can maximize the efficiency of Source Coin.” In order to utilize the computational power of Source Coin, a small but small server was operated within the company. In the end, if the number of contracted companies increases and the size of the program to be operated increases, a data center will be needed. ‘It’s a new venture. It must be fun.’ I wanted to try it properly. They say that even if a rich man perishes, his third generation will go, so you won’t have to worry about old age. I only did one day of market research on cloud computing. There were too many companies coming to sign contracts because of Source Coin’s popularity to find out. 〈Earth Resource, a Rising Star in Silicon Valley〉 Platform. It was thanks to an article about our company appearing in an American electronic magazine. The issuance of Source Coin, an explanation of the mining system, the skyrocketing corporate value, and a story about me were featured in the article. Founder Kim Shin revealed the reason for establishing the company. “It was to support a company called Biolife, which is researching to combat influenza and coronavirus with artificial intelligence.” The company founded by Kim Shin, who made ga reat fortune through bitcoin, stocks, and startup investments, showed remarkable results from the first day of service. Currently connected to over 500,000 miners… … .] My photo was published in a magazine, and I really liked it. The staff at Earth Resources are busy working, and the number of new employees keeps increasing. Employees in various fields started new jobs, and there were many people whose faces or names were unknown. New employees. The way they lightly greeted them when they ran into them reminded me of Arkor’s work life. “Myungwoo, data center. Let’s make it.” “Okay. I knew it.” It felt like taking on a new challenge before the corporate values of Earth Resources were established. Nevertheless, it was a related field, and synergy can be expanded, so there is no choice but to try it. “To create a data center, you need to build a well-cooled building and have the necessary solutions to run the servers.” “Time matters.” Only 1 or 2 years of construction period. Competitive companies such as Amazon and Google are said to be building data centers in Iceland or Sweden, where the weather is cold, to save electricity and lower the temperature of the server room. In South Korea, Naver and NHN have built data centers in Chuncheon, Gangwon Province. Gangwon-do is an area where you can significantly save on cooling costs. “I don’t think we can wait until the building is built. Let’s take over the business.” “Are you going to spend money?” “When you write, write.” We looked at whether there were cloud solution companies in Silicon Valley, and then looked at data centers that could be acquired. In countries with low electricity rates, buildings must not have been completed for a long time, and communication networks must be fast. Fortunately, there are quite a few companies that fit those criteria. Within days, it was confirmed that 29 data centers were listed for sale in the US alone. ―Kim Shin: I’m thinking of buying a data center. Are there any experts? ―Ellie: I’ll look into the department in charge. With JP Morgan as lead manager, I looked at data centers close to San Francisco, and I liked four. The total amount exceeded $300 million. “If you need a loan, we can arrange it.” JP Morgan’s lending division made an offer, but it was turned down. “I don’t need a loan.” Not the naive salaryman of the past, he knew how important it was to create leverage in an investment technique. Nonetheless, the burden of incurring debt was considerable. ‘It’s not like borrowing money anyway. It’s not that I don’t have money.’ It was resolved by a paid-in capital increase of $300 million from Earth Resources and the acquisition of all shares. I thought there weren’t that many people who would recognize it because of the short articles in the American newspapers. The coin bulletin board was excited. ―Sauce coin rice cakes planned!!!! ―Earth Resources capital increased by $300 million; Kim Shin invests an additional $300 million; ―Why do you invest so much money in coins? ―It is said that it is entering the cloud computing market. ―Since you have a lot of money, it seems like you are trying to grow in earnest. ―Is Source Coin worth $10? -Never sell. I think it might go for $100. It was a time when he was busy preparing to enter a new market and recruiting cloud-related employees. “A guest has come.” “Ask me to come in.” Two men in smart suits entered the office. “Welcome.” “I am Jim Bowman. My job is an investment accelerator. I came here for coin investment.” I invested in startups, and as a representative of Earth Resources, I met with the company’s CEO or system management team heads. I’ve dealt with many jobs, but the name of an investment accelerator was the first. “An investment accelerator? What are you doing?” “In a word, it is a job that greatly increases the customer’s assets.” “How?” “There are many means and methods. Because our customers are of many types.” It was a word that made me laugh. At first glance, it sounds like an investment bank that trades stocks or derivatives, but if so, the company’s name would have been proudly disclosed from the beginning. ‘I’ll understand what he’s up to if we talk to him.’ Are there any other people trained like Koreans in the field of throwing bait? Multi-level, planning real estate, voice phishing, insurance, etc. Living in Korea, I was bound to receive all sorts of odd offers. “We are focusing on Source Coin.” “A source coin?” “The coin ecosystem has great value. Did you know? The fact that Ripple’s chairman, Chris Larson, was once worth $60 billion?” While mentioning the name of a famous, rich man as the chairman of Ripple. I have been talking about the coin surge in 2018 for a long time. “I don’t have time. Would you mind telling me the main point?” Yess. We cannot take away your precious time. It is said that public interest in the coin has declined, but I think Source Coin can lead the influence in the front.” “Okay?” “The CEO did a good job of raising the business in a short amount of time. Sourcecoin is from mining to commercialization and individual transactions. It has become a coin with practical power. It’s a great commodity in itself in the capital markets. Since coins are not regulated by capital markets, it is very easy to increase their price if you have a buying group. We can use the power of the press and capital to raise prices.” “What are you doing by raising the price?” “We believe that working together with Earth Resources can make a huge business.” 1 billion source coins issued by Earth Resources. It was a proposal to list it on a coin exchange, soar up the price, and then dispose of it. “I once promised to issue only an amount less than the capital.” “You made unnecessary promises. It won’t be a problem, though. If we hold 1 billion together, there is nothing to ask for redemption, and if we sell it on the exchange and make a profit, it is a business that has no problems at all.” “… … .” If you issue a coin and sell it at a high price on an exchange, it is not burdensome to pay it back for $1. Ass much as Source Coin currently trades at $5, if the company issued it, it could have the same effect as printing money. ‘Is this a scam?’ As long as the transaction is made, no one is harmed immediately. However, when the source coin crashes, the investors lose money. There is a saying that the responsibility for investment lies with the person concerned, but the forces that took advantage of it were everywhere. Jim grinned. “We start with 1 billion, but to secure the basic quantity.” “Is there a next step?” “When it is listed on the exchange and the general public starts to buy it on a large scale… From then on, we need to increase the issuance volume. Have you thought about the profit you would get if you sold over 10 billion Source Coins?” “… … .” Isn’t 10 billion a very unrealistic number? “Do you know about Dogecoin?” “Yes. I have heard and seen.” I have seen Dogecoin when trading Bitcoin, Ripple, etc. It was a coin created by IBM’s developers as a joke, with no value. “Dogecoin has no limit on issue volume, so 100 billion coins have already been created in 2015. 10 billion will be disposed of as soon as they are digested in the market. We could aim for more than that.” When the coins traded at 300 won and 400 won were just created, the price was less than 5 won. If Source Coin goes up in price to $100… …. ‘He’s rich in hundreds of billions of dollars.’ Encourages the desire to get rich quickly. That’s why it sounded like a more dangerous story. Jim explained with a confident expression on his face. “Our business is partnering with celebrities and coin exchanges. Famous investors who appear on TV and have millions of followers. With them, the source coin business can emerge as the center of the coin chain, and the representative will get an opportunity for enormous wealth.” “… … .” “I know you are already rich. You all know what it feels like to make a lot of money. This is your chance. And it’s not about throwing away Earth resources either. Even after issuing a huge amount of coins, you can continue your business. One thing to be wary of, however, is that the business itself may become trivial and lose interest.” Investment Accelerator. He met Jim’s eyes. Trustworthy, confident eyes. The face is said to be contemplative, but I did not feel any hesitation or sense of incongruity. ‘The level of scammers is different in Silicon Valley.’ The purpose of establishing Earth Resources was not to make a fortune with coins. Furthermore… … . ‘These guys are the culprits.’ Those who floated worthless coins and ate a lot, and still look for them like hyenas. If you had continued to invest in coins after Ripple, there was a pretty high possibility that you would have been caught by these guys and suffered damage. “I heard you well. It’s a big offer, so let’s consider it.” “Oops. We must save time. And good opportunities don’t always come.” “I will judge before it is too late.” I shook hands with two people who came to me as investment accelerators. Jim and another Asian. “Who are you?” “It’s late to say hello. My name is Kwon Dojin. I do investment work, but I am also the CEO of Taform Labs.” “Tayform Labs?” “We are issuing the stablecoin Tay and Loona linked to the algorithm.” Compared to Jim, this one wasn’t even very good. I shouldn’t be fooled by my appearance, but I’d say he looks like a cow thief. Kwon Do-jin said with a grin. “There will be many things to see as long as you are in the coin business. If you build a good relationship with us in the future, there will be many benefits.”