Blockchain Platform ICON, Line Plus Announce New Joint Venture “Unchain”

Announcements, Blockchain | May 15, 2018 By:

Line Plus, the subsidiary of Japan-based chat giant Line, and blockchain platform ICON have co-founded “Unchain” to build the social messaging platform’s blockchain network.

Hong-kyu Lee, technical director at ICON, has been appointed as CEO of Unchain. Hong-kyu currently develops and reviews decentralized app (DApp) teams looking to collaborate with ICON.

Line Plus expects Unchain to work in tandem with Unblock, another blockchain business unit established by Line Plus last month, to build various decentralized apps running on a blockchain network. Unchain will create a blockchain ecosystem fueled by a token economy, where the users are rewarded for their contributions to the network.

ICON said this joint venture with Line is expected to connect significantly more users and DApps to the ICON network, bringing them that much closer to a “hyperconnected world.”

“We expect to promote an array of blockchain-based decentralized app services for daily use,” said Hong-kyu in a statement. “The rise of these services is expected to catalyze the growth of Line and the Icon blockchain ecosystem.”

Last month, Line CTO Euivin Park revealed the company’s plans to build its own blockchain mainnet and support the development of dApp services beyond its existing platform. To achieve the goal, Line is currently moving to recruit more blockchain developers across Southeast Asia, primarily in Japan and South Korea.