Leading Crypto Exchange Binance Added to Kakao’s Klaytn Governance Council

Asia Blockchain Review
November 3, 2019

A governance council established by South Korean firm Kakao has chosen one of the world’s top cryptocurrency exchanges for inclusion.

As reported by Token Post, Binance has become the latest addition to the Klaytn governance council with more major names poised to be announced in the near future.

Improved Legitimacy via Council Participation

Binance announced its acceptance into Klaytn’s council with a statement that indicated the council is looking to add even more noted companies over the coming months.  Binance is so far the 25th entity to be added to the council after big names such as LG Electronics, Philippines-based financial institution UnionBank and Celltrion, a South Korean biopharmaceutical company, recently joined.

Participation in the council, which was started by Kakao to further its blockchain technology, is expected to afford Binance improved legitimacy in South Korea and eventually globally.  The exchange is currently one of the largest in the world by trade volume. Binance CFO Wei Zhou said the platform is excited to be working with Kakao and Klaytn as they share goals for the future.

Improved Utilization and Adoption of Blockchain 

Leading Klaytn’s efforts is Ground X, a subsidiary of Kakao devoted directly to blockchain endeavors.  

“We are excited to welcome the world’s leading exchange Binance to our Governance Council,” said Jason Han, CEO of Ground X. “We look forward to further strengthening the Governance Council as we continue to invite leading companies in various industry domains to join, and together with our Council members, we will work towards driving mainstream adoption of blockchain.”

Source: www.tokenpost.com

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