Kakao Announces Blockchain Platform Launch

Korean Internet Company Kakao Announces Blockchain Platform Launch

The popular South Korean Internet company Kakao announces blockchain platform launch in June 2019. The announcement comes from its blockchain division Ground X. The platform goes by the name Klaytn mainnet. Last year Kakao put up the testnet version for Klaytn. It will mostly work on decentralized apps.

Kakao definitely has big plans to break into the crypto domain. Post the release of Klatyn mainnet it may also launch a crypto wallet. This will be integrated with Kakaotalk, the native messaging app of Kakao. Also, they have plans to use Initial Coin Offering(ICO) to raise up to $90 million for developing a native token.

If we look at Kakao it has a massive presence in various domains like mobile messaging, finance, gaming, etc. Now if they get into blockchain and crypto then definitely they will have a lot of platforms to experiment the possibilities of blockchain.