One of the largest Internet companies in South Korea Kakao has officially announced the creation of a subsidiary named Ground X, specializing in blockchain technologies, reports Yonhap.
During the press conference, the representatives of the operator of the popular in South Korea messenger KakaoTalk told about the launch of a new unit, which will develop its own blockchain-platform. The new product will be open to the public and should become the basis on which developers can create their applications. The release of the new site should take place during the year.
It is also planned that Ground X will integrate all future blockchain services with existing services of Kakao, said the company's CEO Joe Su-yong and Yeo Ming-su.
Now at Kakao 3.0, we will continue to explore our growth potential by seamlessly integrating services among Kakao companies and actively building presence in the global market.
At the same time, according to ZDNet, Su-yong denied the earlier rumors about the release of Kakao Coin cryptocurrency and ICO outside of South Korea, where such campaigns are outlawed.