Kakao blockchain launch date has finally been announced by Ground X, the blockchain department for Kakao, the largest messaging app in South Korea. The new platform from Kakao could be a major driver for the adoption of blockchain in South Korea.
Klaytn Launch Date Announced
Kakao Launch of their own blockchain named Klaytn Mainnet was announced in Consensus 2019. In an interview with Cointelegraph, Kakao announced that they will be releasing their platform in June 27 2019.
Initially, the people from Kakao announced the intention to launch a blockchain back in March last year. Then in October, they launched a test run. Just recently, they had a repeat of their Initial Coin Offering to generate an additional $90 Million. All in all, they are looking to put together $300 million through Ground X in hopes of developing their own native token.
What Is Klaytn
With the Kakao Launch of their blockchain, they will be looking to leverage their strong market share in the South Korean messaging industry. The new blockchain from Kakao will launch blockchain technology to a new market in Southeast Asia.
The blockchain will be focusing on decentralized app of DApps. In addition to Klaytn mainnet, they are reportedly looking at creating their own native token that they will develop through Ground X. In addition, the south Korean internet Gian will be looking to create a cryptowallet housed in their messaging app using Klaytn mainnet.
Who is Kakao
Kako is the largest provider of messaging in South Korea. They have presence in the Korean market, and they serve different industries including gaming, content services, mobility, financial services. Its strongest asset is its stranglehold on the messaging market. Through its free messaging service, Kakao Talk or also known as KaTalk, it can reach it s many subscribers. As of May 2017, Kakao talks has over 110 million subscribers. More importantly it has over 95 million active subscribers every day.