[Sunday Column☕] The Day We End Corporate Pain: The Heavy-Duty Rail of True Independent Infrastructure

A Sunday afternoon with raindrops on hydrangeas. Let's step away from the daily hustle for a moment and let our thoughts wander while brewing some coffee.

Looking at the crypto scene lately, all I see is talk about KYC for individuals. While that is certainly important, what we should really be looking at is the slightly further horizon of corporate onboarding.

What is that immense effort required to open a single corporate account in the existing financial system? In a word, it is a continuous, endless series of screenings for identity verification, anti-money laundering measures, and legal compliance.

It is endless, but to pick a few examples: it starts with submitting a certified copy of the corporate registry and articles of incorporation, and extends to requests for the representative's ID and proof of address. Furthermore, from identifying shareholder composition and ultimate beneficial owners to submitting business plans, explaining cash flow, and proving no ties to antisocial forces, you are asked for mountains of documents, and sometimes even face interviews as needed.

Moreover, it doesn't end once the account is opened. Additional checks occur every time a large remittance is made, and the purpose of overseas remittances is strictly questioned. You are required to update customer information periodically, remain under constant monitoring for suspicious transactions, and if anything happens, restrictions on account usage or re-screening await you immediately.

Of course, I am well aware that these are necessary mechanisms for AML and anti-terrorism financing measures. However, from the user's perspective, one wants to look up at the heavens and ask why it takes so much time and effort just to open one account.

In the context of blockchain and decentralized identity, this issue has always been raised. Ideally, there should be a mechanism where identity verification is completed once by a trusted institution, the user manages that authentication information themselves, and they can present only the necessary information to the necessary parties.

If that were the case, the absurd burden of submitting the same documents repeatedly to every bank and service could be significantly reduced. However, in reality, legal regulations in each country and the risk management policies of each financial institution act as barriers, and complete standardization has not been achieved.

However, I want you to think about it calmly. A company that is so exposed to the risk of customer information leakage can never achieve relationality with other companies by managing it themselves. If the foundation is wrong, keeping personal and confidential information in the hands of the person ultimately responsible is the pinnacle of safety.

What Core is trying to do is exactly this.

That is why my heart was quietly stirred when I saw the CorePass KYB video released the other day. That is not just a document upload feature. You create a wallet exclusively for business and engrave a unique Core name directly into it.

And you autonomously program the authority of directors and the governance structure of the organization itself on the blockchain. The organization can even set its own rules, such as whether decisions require unanimity or a majority. The decentralized independent infrastructure is brilliantly solving the unreasonable pain we have experienced with existing opaque systems.

What is important is the existence of the engine that supports this autonomous governance at its root. It is not a single centralized server like AWS that executes the approval rules set by the company.

A decentralized consensus operating on a global scale called Proof of Distributed Efficiency (PoDE) protects the corporate decision-making process from any tampering or censorship.
This is the true power of independent infrastructure.

Let's turn back the clock just a little bit.

Actually, this corporate onboarding feature in CorePass is not an idea that popped up yesterday or today.

If I trace my memory, it must have been over three years ago.

Ockert Loubser, also known as Ockie, was already speaking with passion about this vision in a certain community.

Back then, in an era when even KYC had not yet fully permeated, he was enthusiastically approaching members among the Japanese who seemed capable of grasping the depth of this topic.

At that time, there might have been parts of why they were so fixated on the existence of a DAO (this was just around the time when confusion between CORE and another CORE DAO began) that I honestly couldn't quite grasp. But now, from a corporate perspective, its power is gradually taking effect. It can be said that we understand it now because the world has finally begun to notice the big wave of RWA, or the tokenization of real-world assets.

Bringing real-world assets like real estate, gold, and securities onto the blockchain. It is easy to say, but a huge wall called the law stands in the way. The rules of the real world would never allow an anonymous wallet, whose identity is unknown, to own an actual building.

For RWA to function as a genuine business, KYB (Know Your Business) is absolutely essential to clearly prove who the corporation handling those assets is and who holds the decision-making authority. They have completely foreseen the current global trend for over three years (or perhaps even longer).

Why are they so obsessed with such a rigorous design? It is to clear the world's highest hurdles from the start, such as Europe's strict legal regulations like MiCA and GDPR.

It is no coincidence that CoDeTech has established one of its bases in Liechtenstein, a place with extremely strict legal requirements. They have incorporated, from the very beginning, a framework of legal regulations that even existing financial institutions struggle to handle as a native mechanism of the blockchain. This is the moment when a corporate organization dons robust digital armor and links perfectly with real-world laws.

Looking at other projects, the number of companies focusing on RWA has certainly increased. Examples include Ondo Finance and Centrifuge.

However, much of their KYB is merely a makeshift bandage, simply connecting external identity verification services (like Sumsub) to their systems. To put it more bluntly, they are just trying to run borrowed vehicles on rails laid by someone else.

Core is different. What they are doing is the mind-numbing task of 'laying the rails' themselves in the wilderness. What they are building through CorePass is not a compromise where KYB is outsourced to others for an easy ride.

Some might question why Core develops everything in-house. They might think that things would progress faster if they outsourced to convenient external services.

But think about it. If you depend on other companies for this critical foundation of KYB and identity, can you really keep running on those borrowed rails when faced with the rapidly changing global situation and the mountain of complex legal regulations?

The answer is no. Dependence on others will inevitably lead to a fatal derailment someday. Because they lay the rails from the ground up and manage the switches themselves, they can maintain complete control in this uncertain world.

Some might suspect that keeping everything in-house is a form of centralization that goes against the philosophy of blockchain. But that is viewing infrastructure construction a bit too romantically.

In the phase of laying a solid railway to a new continent from scratch, a certain degree of centralized traction and responsibility is absolutely necessary. And even after the rails are opened, as long as they are connected to the standards of real-world law and continue to operate safely, a responsible management function is indispensable.

This is not an abandonment of philosophy or a retreat to centralization, but an extremely mature choice for operating infrastructure in the real world.

Why are they so obsessed with such robust, in-house rails? It is because they are not just playing in the lawless zone of Web3, but are facing the world's strictest regulatory authority, the US SEC, head-on as Arax Holdings.

While bearing strict reporting obligations like 8-K and 10-K, they are trying to dig a tunnel through the massive mountain of compliance barriers. This thick, fully in-house KYB rail was absolutely necessary to run a heavy-duty freight train capable of withstanding real business and law, not just play.

Trying to achieve this through a corporate alliance of multiple companies or through complete decentralization where the location of responsibility is ambiguous—actually, that is a far more unrealistic choice.

Faced with the world's strictest regulators, irresponsible idealistic arguments like 'we will all discuss and decide where to lay the rails' or 'it's decentralized, so we don't know who switches the tracks' will never pass.

To go head-to-head with real-world laws, a single entity with intense responsibility and traction must carve out the bedrock with almost insane obsession and lay the rails straight.

Blockchain used to be a world that only consumed hype and ran wild with digital speculation. But the times are now transforming significantly into a bridge to real-world assets.

This is by no means a temporary trend. Just as AI is not a passing fad, but an irreversible structural transformation of society from which we can no longer return to the world before it—much like the birth of the steam engine or the internet.

The world might think the metaverse is a finished, temporary hype. But that is wrong. It was just the wrong order.

When there is a solid blockchain infrastructure, where real-world assets are perfectly integrated, and virtual reality is locked in a firm embrace, the metaverse will inevitably rise again as the next massive infrastructure.

It only collapsed because the foundation was not solid, but now that a bedrock foundation—consisting of a robust identity like CorePass, legal legitimacy, and the independent infrastructure of XCB—has been laid, true integration is about to begin.

Perhaps what I have been trying to convey with all my heart in the series I am currently writing, 'Genealogy of the New Continent,' is precisely this moment.

Companies are boarding this sturdy train from the old continent, which is filled with the pain of the existing financial system, and are beginning their migration to the new continent of true independent infrastructure, riding on rails laid by their own madness.

What we are witnessing is the very first page of a new continent's infrastructure being built with a roar, as the boundaries between digital and reality melt away.

As I finish the last sip, I want to slowly watch how the scenery ahead will change.☕

〈🎧AI Voice Commentary👇〉

#XCB #CorePass #KYB #PoDE #CoDeTech #RWA #Blockchain #Web3 #DecentralizedID #Metaverse #IndependentInfrastructure #Compliance #CryptoAssets #FinancialInfrastructure #SundayColumn #GenealogyOfTheNewContinent