Messaging App Line is Launching a Blockchain Subsidiary in South Korea
The Japanese giant messaging app Line expands! The company made the announcement yesterday, on 2nd April 2018 in the immediate vicinity after launching the new Line Pay service, meant to accept crypto assets.
The Japanese giant is about to open another headquarter. The new project has been entitled Unblock and will be established in South Korea. It aims to test the blockchain technology, but also to find solutions for its development. All the steps will be taken to integrate the new solutions into the Line messaging system.
According to ZDNet report, the messaging platform plans to connect crypto markets from South Korea, Japan and South Asia. They supposed that Line Plus will probably establish a “token economy“.
“The company will conduct blockchain education and market research and help South Korean virtual currencies expand to Japan and Southeast Asia”, stated Line Plus.
The announcement came after launching the Line’s Financial Corporation
The announcement was made two months after the launch of Financial Corporation, an organization dedicated to crypto trading, insurance and loan services. This was latter also entrusted with testing activities for the blockchain technology.
Line is not the first messaging platform that has decided to get involved in testing blockchain solutions. The Korean messaging app Kakao has established a subsidiary in March 2018, which aims to develop new applications based on the blockchain system.
In the near future, there is a significant involvement of the Russian platform Telegram, which has been able to obtain considerable investments and an impressive number of investors in Initial Coin Offering period. The platform is working on the new project entitled Telegram Open Network (TON) about which is not known too much information.