Japan’s largest messaging app “LINE” has reportedly struck a collaborative agreement with a blockchain project called ICON which was created by South Korean Developers.
The two organizations will work together on a blockchain project called Unchain. Both companies will work towards creating decentralized applications otherwise known as DApps. Additionally they both will work on leveraging synergies aimed at expanding the blockchain ecosystem. The partnership will focus on developing the DApps using resources provided by ICON’s network.
H.K. Lee has been appointed as the CEO of Unchain and his job description will mainly involve overseeing the creation of the decentralized apps as well as reviewing the development teams. The team of developers at ICON state that they are confident that Unchain will come up with a blockchain system that is based on a token economy, through which users will be rewarded for their impact on the network.
A subdivision of LINE known as Unblock, whose role is to speed up DAapp projects and carrying out blockchain research will be integrated with Unchain, alongside the DApp services launched through ICON. The ICON team also believes that their collaborative efforts are a step forward towards a future where Blockchain and decentralization are part of daily life.
LINE is the largest messaging app in Japan with a whopping 200 million active users every month. The company has been demonstrating a lot of interest in blockchain technology over the past few months as well as some innovative projects. The announcement of the partnership also revealed that LINE’s development team will launch the DApps as well as its blockchain mainnet on ICON’s blockchain protocol.
Once LINE’s development team finalizes the development of its independent blockchain lab, they will commence research aimed at tapping into the potential of blockchain technology. They will also focus on research aimed at identifying innovative methods through which they can commercialize blockchain technology over the long-term.
LINE not only provides an avenue through which blockchain technology can be tested, it also seeks to bring blockchain technology to more than 200 million users. This strategy might prove to be a key move that will allow more than 200 million people to use ICON’s blockchain network. Blockchain technology still remains underutilized. The ICON team stated that they have been eagerly waiting for the widespread adoption of the decentralized ledger technology which has not happened yet.
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