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Oracle Customer Success—Korea Digital Exchange
Korea Digital Exchange Builds a Secure and Reliable Trading Platform with Oracle
ShareDeploying a secure and stable trading platform with Oracle Database, Enterprise Edition and Oracle Management Cloud not only increased customer confidence but also enhanced our competitive edge. Developers can also focus on development instead of monitoring the system, helping us to support growth.
— Ji Min Kim, Service Planning and Operating Team Manager, Korea Digital Exchange
Korea Digital Exchange Ensures Data Availability and Security, Improves Agility, and Enhances Customer Confidence with Oracle PaaS
The Korean Digital Exchange (DEXKO) is a start-up company that provides a blockchain platform to trade cryptocurrency or Korean Won. Its goal is to deliver fast, secure, and convenient services to users.
DEXKO used MySQL in the early stage of development. Since over half of the 30 employees were developers, the exchange had difficulties with secure human resources for system management. DEXKO also wanted to reduce customer churn and prevent frequent system failures experienced by the other leading exchanges. By migrating to Oracle Management Cloud, DEXKO increased agility and improved its competitive edge.
Business Challenge
- Minimize resources needed to monitor and manage the trading platform while enabling developers to concentrate on their development work by adopting a next-generation cloud solution to analyze and diagnose system issues rather than employing additional staff members
- Gain a flexible and scalable platform to support the business as the number of transactions and subscribers grow
- Respond quickly to Korean government’s new measures to strengthen cryptocurrency-related regulations by using a robust database platform to ensure data availability
- Improve customer and regulator’s confidence by providing a safe and reliable system as the other securities company in the cryptocurrency market
Results
- Empowered developers to focus on development of new technologies, such as blockchain-based payment systems, by using Oracle Management Cloud to rapidly identify, analyze, and provide insight for application performance
- Supported future growth by introducing Oracle Database, Enterprise Edition with an unlimited license agreement, allowing the company to easily scale the business without worrying about transactions volume or number of subscribers joining the service
- Gained a robust platform to meet the stringent regulatory requirements in the cryptocurrency market by protecting sensitive personal information, such as customer account and transaction details, with the transparent data encryption feature of Oracle Database, Enterprise Service
- Ensured high availability and improved customer confidence by using Oracle Real Application Clusters to eliminate single point of failures and Oracle Management Cloud to provide real-time monitoring services
- Enhanced competitiveness amongst other cryptocurrency exchanges by delivering a reliable platform that securely processes transactions and operates as a leading financial services provider
Oracle provided us a platform with proven reliability and as much stability as the other leading financial services providers, helping us to increase customer and regulator confidence in the cryptocurrency market. We also prevented availability issues as experienced by our competitors.
— Ji Min Kim, Service Planning and Operating Team Manager, Korea Digital Exchange
Execution
DEXKO installed Oracle Database, Enterprise Edition in a co-location environment and implemented the database options, including Oracle Advanced Security and Oracle Real Application Clusters. DEXKO also adopted Oracle Management Cloud to remotely monitor the database and network infrastructure.
DEXKO was the first cryptocurrency exchange to implement Oracle Management Cloud.
About Korea Digital Exchange
Headquarters
Seoul, Korea
Employees
30
Established in 2017, Korea Digital Exchange (DEXKO) is an exchange that trades bitcoin or Ethereum in cryptocurrency. With continuous research and development on futuristic and diverse platforms, such as digital asset consulting and blockchain-based payment, DEXKO aims to actively communicate with customers and presents real value of cryptocurrency trade.
Oracle Solutions Used
Published: Jun 06, 2018