Blockchain Mainnet Planned By Japan’s Chat Giant Line

Blockchain, News | April 25, 2018 By:

Japan-based social messaging platform Line is planning to develop a custom blockchain to accelerate the development of decentralized apps (dApps) for its platform.

During the company’s developers event last week, CTO Euivin Park said that the messaging giant is working on building a token economy by adopting blockchain technology into Line’s various features and opening dApps based on incentive-type information services. She added that the company is planning to build its own blockchain mainnet and support the development of dApp services beyond its existing platform.

To achieve the goal, the company is now moving to recruit more blockchain developers across Southeast Asia, primarily in Japan and South Korea.

“The outstanding abilities and determination of Line’s developers have played an indispensable role in creating Line’s industry-leading services and reliable reputation,” said Park. “LINE is doing all it can to build a culture where developers encourage each other and grow together.”

The announcement came after Line formed a blockchain subsidiary, called Unblock, in South Korea. The new subsidiary is the social messaging platform’s first entry into the blockchain market. It will conduct blockchain education and market research. It will also possibly issue its own cryptocurrency and act as an exchange at a later date.

In January, Line announced the establishment of a new company called Line Financial Corporation to provide crypto services via the Line Pay mobile product. The platform is currently going through the licensing process with Japan’s Financial Services Agency prior to a future launch.