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South Korea’s Kakao Planning Unit Focused on Blockchain

Information Technology

by Anirudh Menon - March 18, 2018March 19, 2018

Chat application provider Kakao Corp, a company based out of South Korea and considered to be the largest chat operator, has indicated that it will set up a unit that will focus on blockchain technology.

Sources have indicated that the unit will be set up sometime this month, which will include a possible reverse-initial coin offering. This is where an established company will raise capital by offering cryptocurrency. However, no one from Kakao was available to comment on this.

The new unit of Kakao will be headed by Han Jesum, co-founder of local startup accelerator FuturePlay.

However, the share price of Kakao declined by 3.5 percent on Monday, which analysts indicated was because of weak South Korean shares. This is in part to a possible U.S trade war. The primary Kospi Index closed 1.1 percent lower than the previous tradition session.

Anirudh Menon

I have adorned multiple hats during my professional journey. My experience of 14 years comes in areas like Sales, Customer Service and Marketing. My journey as a professional writer started 5 years back, when I started writing for an in-house magazine for my employer. Having successfully delivered many in-house projects, it encouraged me to take my skill to the world. As on day, I have written articles, blogs website content for various industries like Information Technology, Start-up, Retail and Government. The subjects that I have covered range from Digital Marketing, SAP Cloud Platform, Cloud Computing, Content Marketing , Politics. Enhancement is a process and I constantly thrive to add more subjects in my portfolio. Over and above content writing, I also train language and communication to students who want to brush up their speaking skills. I am a part time trainer for IELTS coaching and also work as a budding voice over artist.