Kakao targets June-launch for its blockchain platform

Kakao holds a 96% market share in South Korea.
Around $300 million is planned to be raised through Ground X for a native token.

Rajarshi Mitra Independent Analyst

South Korea’s internet giant Kakao Corp has announced the launch date of its own blockchain platform through its blockchain arm, Ground X. The project is scheduled to be launched in on June 27, 2019. Kakao is a messaging giant which provides utilities like gaming, content services, financial services, and mobility services holding 96% market share in South Korea.

Klaytn, a testnet version of a blockchain platform was released in October by Kakao. This new ecosystem was being tested by ten national and international partners. The platform focuses on decentralized apps. Around $300 million is planned to be raised through Ground X for a native token. $90 million has been already raised for Katlyn by Kakao by repeating its initial coin offering (ICO). It is reported that Kakao will integrate crypto wallet in its messaging app after the release of the Klaytn mainnet.

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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