Kakao’s Klaytn Blockchain Making Big Waves

KakaoTalk which has global monthly active users of 50.9 million recently released a teaser of its cryptocurrency wallet ‘Klip’. The wallet is been developed by Kakao’s blockchain subsidiary Ground X.

The blockchain platform is expected to be launched later this year. Since the teaser, a number of dApp partners and enterprises have announced their support.

Among these include Samsung who added Klaytn blockchain native token ‘Klay’ to its cryptocurrency wallet. Also, South Korea’s largest bank Shinhan will use its blockchain platform to enhance bank security.

Samsung’s Keystore wallet will support Klaytn, a native token in Kakao’s blockchain platform

Earlier today, Samsung updated information on the list of cryptocurrencies supported by their wallet on the Keystore developer’s website. Now along with ETH and ERC-20 tokens, users of Samsung Keystore wallet can also store/ transfer ‘Klay’. ‘Klay’ is a native token in Kakao’s blockchain platform called ‘Klaytn’.

South Korea’s largest bank ‘Shinhan’ partnered with GroundX, Kakao’s blockchain subsidiary

As per news outlet KoreaTimes, Shinhan Bank, South Korea’s largest bank has signed an MOU with Ground X, a subsidiary of Kakao and blockchain developer Hexlant to jointly develop blockchain security technology.

With the collaboration of 2 tech firms, the bank would develop a Private Key Management System for its banking system. The test runs for the service are scheduled for October 2019.

Kakao’s blockchain tech unit, Ground X is expected to provide a blockchain-based platform while Hexlant will develop the infrastructure to feature an anti-cracking program for the platform.

‘Hi, Inc.’ launching its blockchain service on ‘Klaytn’

Hi, Inc. is the Hong Kong-based unicorn company serving over 140 million users in the travel industry. Hi’s blockchain project ‘PASSPORT’ uses Klaytn blockchain to provide an all-in-one traveling application that offers services ranging from booking flight tickets to reserving hotels and scheduling sightseeing trips.

With over 700 million combined users of Klaytn’s 50+ service partners and 20+ Governance Council members, Klaytn may drive mass adoption of blockchain experience for millions of users across the world.