Klaytn to launch crypto wallet dubbed “Klip”

“The total market capitalization of Klaytn governance partners, excluding delisted firms, is 70 trillion won,” said Ground X CEO Han Jae-sun at the “Klaytn Governance Council Summit 2019” held on Nov. 28. “Klaytn is probably the only consortium in the world with such scale. The growth rate is very fast. Daily transactions on Klaytn near between 500,000 and 700,000. The achievement was made five months after the mainnet was launched in June. This is onpar with the level of [the daily transactions of] Ethereum.” Klaytn will lead the global market beyond Asia “Klaytn Governance Council is the first and the only platform in the world that is jointly operated by numerous global firms,” Han said. “As much as Klaytn has already become the representative platform in Asia, it will become the standard blockchain platform in the global market … The Libra Association started off in a form of consortium like Klaytn, but performance-wise, Klaytn is ahead.” Kakao supports Klaytn Parent company Kakao has plans to support Klaytn. “Kakao launched Ground X to prepare for the blockchain era, which is based on the fourth revolution, and have already achieved many accomplishments,” said Kakao CEO Yeo Min-soo. “Based on 40 million users, Kakao will support Klaytn as it become the largest global blockchain platform.” Kakao launched a blockchain-based reward point Kakaocon, and plans to launch Klip on instant messaging app Kakao Talk in the first half of next year. Klaytn Governance Council (GC) The Klaytn ecosystem is built on Klaytn Governance Council, which was launched together with the mainnet in June. Klaytn GC includes 27 companies, including LG Electronics, Netmarble, Kakao and Celltrion, as well as foreign firms like crypto trading platform Binance and Indonesia-based internet firm Axiata Digital. Recently, SK Networks and Hanwha Systems also said they will join the governance council. Klaytn GC is the core subject that is behind Klaytn. There are 30 servers currently under operation, and they are operated by different partners. This means the Klaytn platform system can’t be halted or abused by specific firms. This could help Klaytn keep decentralized. Expanding the base to finance, IT, ads and games A total of six firms attended the blockchain event to introduce their business. Union Bank of the Philippines proposed a business model that could strengthen blockchain businesses in southeast Asia. Global advertisement platform operator Yeahmobi proposed decentralized advertising, which could improve the quality of ads and offer rewards to viewers. Hanwha Systems, an IT unit of Hanwha Group, introduced the transaction of artwork based on blockchain. The company pointed to the lack of transparency in dealing art work due to the limited buyers and high price, and suggested the utilization of the token economy. Klip to be featured on Kakao Talk Klip, developed by Ground X, was unveiled at the event. Users could manage their digital assets based on Klaytn. Klip is scheduled to be launched abroad. In late 2020, various services like Klaytn-based token and games are planned to be added. “Klip, which is developed based on Klaytn exposed on Kakao Talk, could publicize blockchain,” said Bae Sang-eon from Ground X. Bae vowed to introduce high quality services through strict evaluation made by employees.

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