Kakao’s Blockchain Project “Klaytn” Soon Launch in June

By Anne W. | May 15, 2019

Ground X, the blockchain subsidiary of South Korean largest mobile platform Kakao Corp, has officially revealed the date of its upcoming blockchain platform.

As announced during the Consensus 2019 conference, the blockchain-based platform dubbed Klaytn will be launched on June 27, 2019. The launch is a major step in increasing blockchain adoption in South Korea.

Kakao has been well-known for its services on many aspects of the country including the gigantic messaging platform Kakaotalk, transportation service app Kakao Mobility and other services such as gaming, content services as well as financial services. The giant firm currently owns 96% of market share in the country.  

Since March 2018, Kakao has step-by-step developed its blockchain platform business plan. Klaytn is designed to focus on decentralized applications (DApps). The testnet version of Klaytn was put into practice in October and was finalized ever since. Kakao developing team has been collaborating with around ten foreign and Korean partner companies to test out Klaytn.

Kakao has recently repeated its initial coin offering (ICO) to raise $90 million from investors for its soon launching blockchain platform. As reported in March, Kakao has successfully completed its first pilot that is blockchain-powered to enable in-kind donations for monitoring and tracking purposes from donors to beneficiaries.

According to South Korean news site Fnnews, after officially launching Klaytn, Kakao will shift its focus to develop its messaging app KakaoTalk with integrated crypto wallet feature.

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