Japanese ‘Line’ Expands its Blockchain Platform to South Korea

Yet another major company has noticed and recognized Blockchain's potential. Line, Japanese messaging giant plans to launch a blockchain subsidiary - in South Korea

Japan is one of the countries that has already recognized and accepted Bitcoin, and they did it a year ago – in April 2017. Since then, quite a lot has changed, and the biggest thing is the attitude towards cryptocurrencies.

This change has gone so far, that even the biggest and most famous messaging company in Japan, Line, plans to use cryptocurrencies as a method of payment. Line plans to launch Unblock – a subsidiary that will work at the territory of South Korea, which is yet another nation open to cryptocurrencies.

Unblock’s mission and future

Unblock will have a base in South Korea, and the company’s goal will be to research blockchain technology. Line wants to examine its depths, potentials, and even uses that it might apply in day to day business.

Another goal that this company has in mind is to try and help move South Korean currency to other countries in Southeast Asia.

Line plans on launching its own cryptocurrency

Asian companies have taken an enormous amount of interest in cryptocurrencies, as Line’s actions are proving every day. Not only are they excited by the possibilities that existing cryptocurrencies can offer, but they even plan on bringing some of their own to the light of day.

Line Plus, this company’s Mobile product, plans to introduce a so-called “token economy.” These tokens are expected to become especially popular in South Korea since this country’s interest in crypto-world outgrows even that of Japan’s.

Cryptocurrency’s popularity within Telecom industry

Line’s interest in blockchain technology and the launch of Unblock has been one of the most popular topics lately. However, it’s not exactly unheard of for a telecom company to take an interest in blockchain tech.

Another example of this can be seen in South Korean’s messaging app, Kakao. This company decided that they too would like to build a section dedicated to studying blockchain technology. Still, Line has taken things one step further with the announcement of their tokens, which Kakao has not done yet.

And, as Line decided to launch Unblock in South Korea, Kakao decided to try its luck in doing the exact opposite – by launching its Ground X subsidiary in Japan.

Another company taking an interest in cryptocurrencies is Russian Telegram. This may even be the largest move ever made by a messaging company, and their app is used by enthusiastic groups, cryptocurrency startups, and others.

So far, over $1.7 billion was raised in the Telegram ICO, but even so, there is still no new information about their TON (Telegram Open Network).

Follow us on Telegram | Twitter | Facebook

Featured Images are from Shutterstock.

Blokt is a leading independent cryptocurrency news outlet that maintains the highest possible professional and ethical journalistic standards.


Please enter your comment!
Please enter your name here