The blockchain arm of South Korean internet giant Kakao Corp, Ground X announces the launch of its own blockchain platform dubbed Klaytn on June 27, 2019, as per a report published on Cointelegraph on May 14.
As per the announcement, Klaytn mainnet will purportedly support blockchain adoption in the country. With a presence in messaging, gaming, content services, financial services, and mobility services, Kakao owns a 96% market share in South Korea.
Last March, Kakao announced its plans for the blockchain platform and released a testnet version of Klaytn in October. Focussed on decentralized apps (DApps), developers have been testing the blockchain with over ten domestic and international partners.
Just recently, Kakao repeated its initial coin offering (ICO) in order to raise an additional $90 million for Klaytn. Purportedly, the firm plans to release an integrated crypto wallet within its messaging app, KakaoTalk, once Klaytn mainnet gets released.
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