One of South Korea’s largest Internet companies, Kakao officially announced the establishment of a subsidiary branch of the Ground X specializing in blockchain technologies, according to Yonhap.
During the press conference representatives of the company-operator of the popular South Korean messaging service KakaoTalk spoke about the launch of a new division, which will develop its own blockchain platform. The new product will be open to the public and should be the basis on which developers can build their applications. The release of the new site to be held during the year.
It is also planned that Ground X will integrate all future blockchain services with existing services Kakao, said CEO Joe Su-yong and Yeo Min-soo.
“With the help of Kakao 3.0 we will continue to explore our growth potential, seamlessly integrating the services of Kakao and is actively expanding its presence in the global market,” said Su-yong.
At the same time, according to ZDNet, Su-yong refuted earlier rumors about the release of a cryptocurrency Coin Kakao and conduct of the ICO outside of South Korea, where similar campaigns are outlawed.