Executive Summary

As the central consumer class of the Korean Wave, which is expanding throughout Indonesia, is expanding to those in their 20s and 30s, it is gaining popularity. Starting from popular culture such as dramas and music, it is leading to preferences and purchases of tourism, electronic products, and fashion products. This can be seen as a process of forming favorable feelings toward Korean popular culture. K-Culture is at a stage where not only the maniacs but also the general public are aware of it, and young people go abroad to see performances by Korean idol groups and actively consume K-pop records. They are willing to open their wallets to consume K-Culture.

In the past, it was very difficult to purchase overseas goods that I wanted to buy. However, there was a generalization of mobile devices such as smartphones and tablet PCs and the development and growth of e-commerce based on the Internet. As a result, environmental conditions such as the purchase of goods and payment on overseas shopping mall sites have been prepared.

From the consumer's point of view, it has been possible to purchase products at a relatively high price due to the monopolistic import structure or complicated distribution stage, and to receive direct delivery of purchased products through the activation of overseas direct purchases and the development of special air delivery services.

However, it is also true that as the market and technology grow, the phenomenon of the rich and the poor has not only increased due to information asymmetry, but also the cost of brokers and customer inflows are rising due to overheated competition. Powerful and Giant commerce platforms are emerging in the flood of the Internet both at home and abroad, but most of them only encourages users to consume on the platform and do not seem to be interested in the benefits of users.

Recently, the domestic (Indonesia) e-commerce market is rapidly expanding due to the spread of Covid-19. The government also has a strong will to improve backward financial services by introducing fintech industries such as cryptocurrency, blockchain, and virtual currency.

BYK brings innovative changes to the logistics business model by introducing blockchain to the existing overseas direct purchase logistics platform, fair compensation to users who have made certain contributions within the platform, and expanding its position as a participant in the platform rather than as a one-sided platform lender. We want to fundamentally solve the problem that existed in the relationship between the platform and the user.