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LG Joins Kakao’s New DApp Blockchain Platform

Asia Blockchain Review
July 5, 2019

Kakao’s blockchain-centric unit, Ground X, has launched the mainnet of its blockchain platform Klaytn, according to a report by the English-language daily The Korea Herald.

The Klaytn mainnet reportedly focuses on DApps (decentralized applications) and is expected to further the adoption of blockchain in South Korea, a country already enthusiastic about the cutting-edge technology. 

Major Adoption of Blockchain Improves Platform Ecosystem

The combined market value of companies participating in the project, including tech giant LG Corporation, totals US$64.8 billion. 

With major firms employing the Klaytn platform from day one, Jaesun Han, Founder and CEO of Ground X, said Ground X will be able to refine the platform’s stability and reliability.

“The launch paves the way for commercialization of the blockchain system. By working with such valuable and responsible companies I expect we can improve the platform’s stability and reliability. In order to create a better ecosystem, we will increase the number of partners,” Han said.

More DApps & Crypto Wallet in the Works

There are reportedly 9 DApps currently available on the platform. Among them are HintChain, a blockchain-based food data service that motivates users to submit restaurant reviews by offering rewards; Antube, a video entertainment platform that allows users to monetize their uploaded content; and Pibble, an image-oriented messaging app.

According to Kakao, the number of DApps available on the Klaytn mainnet is expected to rise to 34 by October. 

The company is also reportedly working on the launch of an integrated crypto wallet in its popular KakaoTalk texting app along with the launch of Klaytn mainnet. 

Kakao is the dominant internet firm in South Korea, providing content creation and financial services in addition to its well-known messenger apps and video games. 

Source: https://cointelegraph.com 


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