Author: Kella Pacquiao, Philippines
Tech startups are taking the race into a new perspective with blockchain apps in South Korea. Big names in startups enterprises such as Kakao and Naver has announced that they will take a leap and explore the crypto ecosystem.
Blockchain Apps Projects by Influential IT Companies
A reverse ICO called “Kakao Coin” was announced by Kakao into its making back this March. The renowned messaging app operator aims to have its own decentralized platform by using the support of its blockchain subsidiary, Ground X.
Naver also dared to expand its influence by taking the plunge in blockchain tech. LINE, the subsidiary of the internet search giant Japan Naver, signed a partnership with ICON.
The joint venture is in line to make “Unchain”–the blockchain project expansion of LINE–a reality.
Blockchain Fever is on the Rise
Startups take notice of the rising blockchain fever that even the gaming and fitness industries, also join the crypto race.
Calorie Coin, a fitness designed digital coin venture, has launch by CLC Foundation recently. Users mine Calorie Coins by engaging in fitness recreations and activities.
Kodebox, the giant gaming industry, reveals that the company will also develop its own blockchain platform.
“Our goal has always been to develop a blockchain platform including one that allows users to exchange cryptocurrencies and items in a game.
We also have plans to release a new open source-based platform Kodechain.”
By having the new tech, gamers are free to earn digital coins while playing games. The in-game tokens earned will then can be convert to Ethereum.
Crypto Coins Trading in South Korea
IT industries in Asia shows a rapid growth of advancement that pushes to put crypto and blockchain technology into action. Koreans is facing limited “economic opportunity” that leads them to be the “most active” users in digital currency.
“We saw the growth of Chinese people trading cryptocurrency slow down globally, and South Korea has taken its place as the most active for crypto coins trading.
I believe the crypto-frenzy in South Korea, as well as in Japan, can be explained by the characteristics of the society. For the younger generation now, the economic opportunity is very limited in these two countries.
Everyone is making less money, but housing [price] is going up. Everyone has a university degree, but they can’t find jobs that pay what the people believe they should be paid.”