Ground X Announces Blockchain Platform Launch in June

Asia Blockchain Review
May 27, 2019

Ground X — the blockchain division of South Korea’s Kakao Corporation — has said it will officially launch the mainnet of its Klaytn blockchain platform in June, according to Cointelegraph.

Kakao is the largest mobile platform company in South Korea with over 50 million users. In 2018, Kakao HQ established the blockchain company, Ground X, with the purpose of developing blockchain technology and expanding its blockchain business.

According to the company’s statement, the Klaytn mainnet is set to launch on June 27th, 2019 and is expected to become a major player in South Korea’s adoption of blockchain technology. Kakao holds an overwhelming 96% market share in the country’s mobile service sector, with offerings ranging from financial and mobility services to content, gaming, and messaging

According to the company, Klaytn is a service-centric, public blockchain platform that provides a user-friendly UI/UX and enterprise-friendly DX (developer experience) environment. Through the Klaytn platform, developers can build blockchain applications (BApps).

Previously, a testnet version of Klaytn was launched in October 2018 to allow developers to build applications on the platform. Klaytn offers tools with a focus on decentralized applications (DApps).

In December 2018, Kakao revealed plans to raise US$300 million through its subsidiary, Ground X, which will go towards developing a native token. The mobile giant has also been raising funds for Klaytn through an Initial Coin Offering (ICO).

Additionally, South Korean media outlet The Financial News reported that Kakao has announced that it will be releasing an integrated crypto wallet for KakaoTalk, its hugely popular messaging app, after the launch of the Klaytn mainnet.

Source: cointelegraph.com


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