Why Klaytn and Link Will Catalyze Blockchain Adoption in Asia

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In the last two years, popular messaging giants in Asia and Europe have announced plans to launch a blockchain-powered cryptocurrency. In Asia, Kakao’s Klaytn and Line’s Link platform have launched and are quickly gaining momentum, but Facebook and Telegram’s cryptocurrencies have not fared so well. Messaging Giants Pushing Blockchain Adoption As it stands, Kakao is by far the most dominant mobile platform in Korea with a market share of 97% in the country. Kakao subsidiary Ground X began development of Klaytn back in 2019, after raising $90 million in both venture and private capital earlier that same year. Klaytn was designed to provide a simple platform businesses can use to easily launch their own blockchain-based applications known as blockchain apps (or BApps). These applications benefit from the hybrid design of the Klaytn blockchain—which combines the decentralization and distributed governance of public blockchains with the scalability and low latency of private…

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