Business 19 March 2019

Admir Aljic

Kakao combining crypto wallet with messaging app

Kakao has been quite active of late, and that continued on Monday with the announcement that they would be integrating their crypto wallet with their messaging app, KakaoTalk. This would allow their 44 million users to be able to send peer-to-peer transactions using the technology.

The story was first reported in FNNews. Kakao is South Korea’s largest Internet provider and has become its leading messaging program provider. The plan was to allow those who are using the app to be able to connect their wallet and provide monetary transactions from one user to another, without concern about security.

Kakao has been very active in the development of blockchain technology. In the final quarter of 2018. The South Korean Internet giant invested over $57 million into the research and development of this technology. They had also purchased a blockchain startup company in Israel in late December to help further their progress in the development of this technology.

Just a week ago, Kakao offered millions in digital currency in a coin offering, looking to raise as much is $90 million toward the launch of their blockchain technology. The project, which had been labeled Ground X Corp, was set to be able to integrate the platforms of 26 different companies over the next three months so that they could provide a nearly impenetrable level of security across their platform, allowing users to be able to trade currencies and make transactions without fear of being hacked or their security being breached.

This blockchain technology looks to now be used in their KakaoTalk program as they wish to allow users the opportunity to be able to make secure transactions across their messenger service. This could truly be a game changer for the company.

This also seems to prove that the Ground X platform they be further along than some had envisioned. This blockchain technology is the foundation of the new feature of KakaoTalk, which creates an interesting question of what other uses they have discovered for the platform.

According to the announcement, the integrated platforms will take effect at the end of June. It will enable users to be able to communicate with one another while still being able to use their password-protected wallet.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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