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Dunamu, the fintech branch of South Korea's largest Internet company, Kakao, is reported to be launching a blockchain service platform designed to help businesses build a blockchain business. Korean daily JoongAng Daily announced the news on March 19.
The platform, dubbed Luniverse and overseen by the Lambda256 technology research lab, is based on a fundamental premise: it helps IT startups develop blockchain-based services. The platform would have a high level of security and an automated sizing function, able to adjust the size of the blockchains according to the amount of data stored.
To implement this service, Dunamu would have collaborated with blockchain companies that provided a variety of blockchain products and applications that responded to customers' business areas. Park Jae-hyun, CEO and former head of research at Lambda256, said that "in the past, many companies have built their own blockchain, but an alternative is to outsource the creation of a blockchain in the form of a service offered on cloud systems ".
Yesterday, Kakao announced the integration of its cryptocurrency portfolio into its KakaoTalk messaging application, which will allegedly allow more than 44 million South Korean KakaoTalk users to send counter-to-counter transactions using the wallet. encrypted Kakao.
Also in March, Cointelegraph announced that Kakao would renew its original parts offering after securing $ 90 million from investors. Klaytn, the blockchain platform under the spin-off firm Ground X, will now seek to raise an additional $ 90 million. In December 2018, Kakao announced for the first time its intention to raise approximately $ 300 million via Ground X to develop its own token.
As reported in February, in the fourth quarter of 2018, Kakao's operating expenses related to new activities, such as blockchain and artificial intelligence, amounted to 65 billion won ($ 57.5 million) which would have resulted in a net loss for the period. Kakao's consolidated operating profit was 4.3 billion won ($ 3.8 million).
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