B2B Cambodia sat down with Chhay Lem Lim, Founder of Serey—a SocialFi (Social Finance) platform that merges social media with blockchain—to discuss what Web3 is and how it works, as well as cryptocurrency adoption in Cambodia.
B2B Cambodia: Can you share a little bit about yourself and your background?
Chhay Lem Lim: “I’m originally Cambodian, but I grew up in the Netherlands after moving there when I was six. In 2008, I decided to come back to Cambodia to reconnect with my roots, and I’ve been here ever since.”
B2B Cambodia: Can you tell us what Serey is and what inspired you to build this platform?
Chhay Lem Lim: “Serey provides a Web3 decentralised infrastructure for influencers, media companies and educational organisations, to create their own social publishing platforms. So they can create a really amazing platform with their own homepage, blog, videos, and even their own online shop. The beautiful thing is, they own the platform, not any large corporation.
The reason I created Serey is because I thought big tech corporations like Facebook and Google have too much power. They control what people see, they can influence how people think, and they can also cause social unrest in countries. So I want Serey to take the power from these big corporations and bring it back to the countries and their people.
B2B Cambodia: You described Serey as being a Web3 decentralised infrastructure—Can you explain what ‘Web3’ is?
Chhay Lem Lim: “Traditional platforms like Facebook, Google and TikTok are Web2, which means they are centralised and profit-driven. When creators create content, they often only receive 50 per cent of the revenue. The other 50 per cent goes to the corporations, so every year, corporations make billions of dollars.
On Web3 platforms like Serey, every user and platform owner holds Serey Coin, which represents a stake in the system. Because everybody has a stake, they are incentivised to do their best to grow the platform. Once the platform grows, the demand for Serey can also grow, and as a result, everybody benefits.”
B2B Cambodia: Who would you say a platform like Serey is made for?
Chhay Lem Lim: “It’s made for influencers, media companies, educational organisations. They can migrate to Serey and create their own social publishing platform.
For example, Serey has a partnership with Sabay, which focuses on entertainment. Another partnership is with SmartVey, who focuses on educational quizzes for students. We’re also partnering with PotatoSis, which provides internship and job listings for young professionals.”
WATCH: ‘Why Serey is the most advanced SocialFi platform’:
B2B Cambodia: Why would influencers or media companies want to partner with Serey? What are the benefits the platform offers?
Chhay Lem Lim: “I think the main benefit is they gain access to the Web3 shared userbase on Serey, so they connect and grow together. The second reason is that they can prepare for the upcoming legislation from the Cambodian government on cryptocurrency and stablecoins. So when they migrate to Serey, they unlock new monetisation opportunities in Web3.
B2B Cambodia: You’ve said your core mission is to support the Cambodian people and its economy. Can you tell us more about this?
Chhay Lem Lim: “I think the crypto market is going to grow significantly in the coming years. The world is adopting stablecoins, America is embracing cryptocurrencies. I want Cambodia to join this movement and not be left behind.
My strategy with Serey is to onboard, as soon as possible, 50,000 users. If we do this, we become one of the largest SocialFi platforms in the world, and this will put us into the spotlight for international VCs (venture capitalists), but also allows us to list on Tier 1 exchanges like Bybit or Binance.
"When this happens, tremendous capital from outside could flow into the Serey ecosystem. And because Cambodian users are the first adopters of Serey, they could gain financially from it, which would, in turn, support the Cambodian economy. My dream is to make Serey the first tech unicorn of Cambodia.”
B2B Cambodia: This Serey Coin that you mentioned, are you planning on listing this on exchanges?
Chhay Lem Lim: “Yes, we plan to list on international exchanges and domestic exchanges. In Cambodia, we are waiting for clear regulations from the government. We’ve already had very positive talks with RGX. Both Serey and RGX share a common vision to educate and support the Cambodian crypto ecosystem.”
B2B Cambodia: Are you currently raising funds? If so, how much and what kind of partners or investors are you looking for?
Chhay Lem Lim: “We are looking for partners and investors who can help us grow. For the past six years, I’ve personally funded Serey’s development, because I deeply believe in its vision. Now that we have built an amazing product. We aim to raise USD 1.6 million to scale globally and to list on Tier 1 exchanges like Bybit and Binance. But this is a big journey, and I cannot do it alone. But I hope there are Cambodian investors who share the same dream with me, so we can make Serey the first tech unicorn of Cambodia."