South Korean Messaging Platform Embraces Blockchain

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Kakao using blockchain to enter global market

One of the most trustworthy and used messaging companies in South Korea announced they intend to expand their market globally using blockchain technologies.

Regarding the decision, the co-founder Joh Su Yong, proclaimed that in order to delve into the whole potential they can achieve with the messaging platform, they’ve been testing blockchain technologies and integrating some features, like a mix of information services.

The company, Kakao 3.0, a project created by Joh Su Yong and the other founder, Yeo Min-Soo, jointly aims to integrate different characteristics and services among all the companies Kakao Corp owns.

This way, the company intends to optimize the synergy of the solutions they provide by combining all Kakao services mainly focusing on Kakao Talk, the messaging platform released in 2010, which has been offering alternative services since then, such as a marketplace on the backend, games, and transactions.

Moreover, the leaders of the company stated that they know for a fact how crucial it is to exploit new markets and horizons, and that the best way for doing this is by including intellectual properties; an action that potentially could expand their grounds to China and the Southeast region of Asia.

In relation to the services that will integrate blockchain technologies, the company stated:

“Ground X, Kakao’s newly established subsidiary specializing in blockchain, will explore the technology with the goal of taking the technological leadership in Asia. To do so, Ground X will open its blockchain platform to the public, explore ways to leverage R&D and investment to ensure further growth, and offer new blockchain-based services combined with Kakao’s existing services.”

The company declared they want to refresh the community of blockchain in regards to messaging platforms, giving the users new possibilities and being pioneers as they’ve always been in this matter.

ICO platform could be launched soon

The video games giant, FuturePlay, known for successfully having four active games in the worldwide market, and may be building a platform for Kakao through which several enterprises will be able to fund-raise using ICOs.

This is not confirmed yet, but if true, the company will have to stay under the parameters of the regulations recently made in the country.

A group of apps in the blockchain

There is a continually-evolving environment around the cryptocurrency world; in fact, the current panorama is that a big group of companies have their eyes on exploiting the advantages of the blockchain.

In the field of messaging apps, some of the most renowned companies like Line, Telegram, and Kik, are already developing solutions that involve blockchain and launching ICOs.