Blockchain Apps Invade South Korea

Blockchain apps became an indispensable part of hi-tech life in South Korea. The distributed ledger technology is no longer the exclusive domain of investors and traders. A variety of industries, ranging from gaming to fitness, are trying to integrate the new technology and attract the public’s attention.

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As a rule, startups are the first to utilize the technological achievements, while technological giants usually just follow the main trend sometime later. Well, the situation is quite different in South Korea,  where IT heavyweights like Kakao and Naver are already working on blockchain implementation. Just two months ago Kakao announced its intention to start a reverse ICO for its legacy cryptocurrency called “Kakao Coin.” The decentralized platform will be developed under the supervision of the company’s subsidiary, Ground X.

LINE, a subsidiary of Japan-based Naver, has plans for blockchain technology too. (The company is registered in Japan to protect itself from the competition.) Line just struck a deal with ICON, which led to the formation of “Unchain” – part of LINE’s blockchain development strategy.

Smaller comapnies also jump on the blockchain bandwagon, for example CLC Foundation just issued Calorie Coin, a fitness-oriented crypto project. Game developers are busy developing blockchain games. A representative of Kodebox, a game developing studio, stated in the recent interview:

“Our goal has always been to develop a blockchain platform including one that allows users to exchange cryptocurrencies and items in a game. We also have plans to release a new open source-based platform Kodechain.”

The most important thing about blockchain games is the possibility to earn real money. Gamers first get digital coins, then convert them to Ethereum, and then to fiat.

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