South Korea has always been one of the nations where
generate a strong enthusiasm in the population, and several
major corporations are determined to exploit the full potential of
technologies and their surrounding hype.
Kakao Corp, one of the leading internet companies in the country, has demonstrated a growing interest in the use of and technologies. Recently, an article published by the Korean financial portal , the Asian giant is natively setting up a crypto in its instant messaging application Kakao Talk.
Kakao: Getting Ahead of Its Competition
With this decision, Kakao would be introducing about 44
million people (the reported number of users of the instant messaging platform)
to the world of crypto coins. The portal explains that Kakao intends to make it
possible for users to send money to each other quickly and easily:
“All users of KakaoTalk will have a and will be able to send and receive crypto as easily as sending a KakaoTalk message.
Although transacting in is easy for those
who are used to the process, the possibility of doing it from within the
messaging application itself with no prior configuration is something that millions
of potential would appreciate.
Kakao’s payment processing service is by no means small. According to information from in 2018 alone, Kako Pay processed over 20 trillion Won in transactions (about 17.7 billion dollars).
This strategy allows Kakao to place itself at the forefront of a service that is attracting a good part of significant competitors that also want to use and technologies to facilitate remittance of money via messaging applications. Giants like , , and even are actively working on the development of crypto payment services.
Kakao is Not Only Working on a Cryptocurrency Wallet. They Want To Build a Native Blockchain To Integrate All Kakao Services
Kakao’s bet is much stronger. Not only do they expect to facilitate transactions with , but they are also working hard on a native which they hope to launch in mid-2019- The project has already raised more than in the first round of a Private Coin Offering
The community of crypto enthusiasts welcomed the plan with
optimism. Heslin Kim, the South Korea-based CEO of BlockchainROK, commented
to CCN that such initiatives could play an essential role in the future
of crypto by society:
“Kakao is representative of South Korea, a country with over 55 million people. It embodies the fast paced, technology driven lifestyle that Koreans adopt so readily. It’s an app so deeply attached to what it means to be Korean.
The fact that one of the most widely adopted apps, with over 95% market share, is publicly promoting and spreading /crypto is tremendous for mainstream . Connect the dots with the market share and total population. With Samsung’s S10 and now Kakao’s we can continuously expect Korea to be at the forefront of the DLT disruption.”
Published at Wed, 20 Mar 2019 18:02:59 +0000
