All Press Releases for November 30, 2020

[PangyoTechnoValley] Global Company selects Kakao Blockchain Subsidiary Ground X

- Leading the future mobile payment market by inheriting the Kakao spirit of challenge and innovation - Startups dreaming of becoming the second Ground X gather in Pangyo, the land of opportunity

Ground X grew drastically because Kakao led the project. Kakao has the largest mobile platform in Korea.

    LOS ANGELES, CA, November 30, 2020 /24-7PressRelease/ -- Ground X, the blockchain subsidiary of Korea's largest mobile platform Kakao is attracting attention from the global virtual asset (cryptocurrency) industry right now. Founded in March 2018, Ground X is a blockchain developer developing Klaytn, a blockchain platform with scalability providing practical blockchain services. Klaytn is a blockchain platform that can run a distributed application DApp like Ethereum or EOS.

Also, Klip is a digital asset management wallet service that was launched in June by Ground X. It supports cryptocurrencies of Kakao public blockchain platform Klaytn-based services. Users can also store the virtual asset Klay and other Klaytn-based coins. Users can manage them in Clip when they receive cryptocurrency rewards from the Klaytn-based DApp, and KakaoTalk cryptocurrency wallet clips can additionally support the feature to exchange cryptocurrency with KakaoTalk friends in real time.

Along with this, Ground X launched a cloud-based service type blockchain (BaaS) KAS (Klaytn API Service) on October 6. KAS is a Klaytn node API that allows developers and service companies to easily develop services using the blockchain platform Klaytn developed by the company, allowing users to record and view blockchain data on the Clayton platform without having to install a node. It provides a token history API feature that allows you to easily search various Klaytn-based token (KCT) information including virtual asset (cryptocurrency Klay) and transaction details.

Ground X has quickly laid the foundation for building a global blockchain ecosystem, and is recognized for its value both in Korea and abroad. Klaytn Mainnet (official service) launched in June last year has been participating as members of the Governance Council made up of 31 global conglomerates representing each industry such as IT, telecommunications, content, games, and finance within one year of its inception. In Korea, LG Electronics, SK Networks and Celltrion are among the members. Adding to this, the US's no. 1 e-payment company with 50 trillion won of corporate value World Pay and VGN, the operator of the messenger app Zalo that has 100 million Southeast Asian users have joined as co-operators, showing the possibility of taking the lead in the global market.

Ground X grew drastically because Kakao led the project. Kakao has the largest mobile platform in Korea. Kakao is a reliable supporter of Ground X, and it is opening the path to enable many startups to achieve their goals in new industrial fields not only in mobile platform service, but also in TechFin, blockchain and AR by using Kakao Pay and Kakao Bank.

Kakao's headquarters are located in Pangyo, where large companies, mid-sized companies, government-funded research institutes, and government support agencies have formed healty ecosystem and contributing directly and indirectly in the growth of the industry and startups. For this reason, Pangyo is evaluated as the incubator where startups with promising ICT technologies and ideas in Korea develop into global innovative companies.

According to the "2020 Pangyo Technovalley Resident Company Survey," the number of resident companies as of 2019 was 1,259, and about 93% of the resident companies were in high-tech industries such as IT, CT, BT, and NT and about 86% are SMEs. By industry, the IT industry accounted for the largest share with 830 companies, followed by culture and content technology (CT, 165 companies) and bio technology (BT, 164 companies).

"Is it the Kakao style?"
Kakao krew is often challenging themselves. Our view, behavior, and vision have already been imbued with the Kakao style, a naturally mastered and embodied essence to create a better world. We will never stop starting from basics and pondering our next move. That is Kakao's style.

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