Blockchain Startup Orbs Expands To South Korea, Partners With Kakao’s Subsidiary Ground Xbr>
Ground X is Kakao’s new blockchain unit that was established in March of this year. Ground X is building a platform that will provide an enterprise-friendly development environment, optimized computation speed and scalability, as well as UX / UI that is convenient for general users.
Founded by Tal Kol, Uriel Peled and Daniel Peled, Orbs aims to commoditize blockchain infrastructure for large scale consumer applications. It is building a fully decentralized public platform that makes the transition to blockchain easier for the industry as a whole. The platform will be specially designed to meet the needs of large scale consumer applications, with a core product experience.
Through this strategic partnership, Ground X and Orbs will work together on conducting research and development on shared blockchain components, such as a crypto library, mutual security audits, and autonomous swaps, an advancement that would facilitate decentralized interoperability of crypto assets. The two firms will also produce joint research papers and conduct peer review on code vital to the core development initiatives of both blockchain infrastructures. Orbs and Ground X will also support one another’s business development.
Ground X said that by collaborating with Orbs representing Europe and the Middle East, they will see more diverse business opportunities being realized in the future.
“This MOU with Orbs is a part of Ground X’s plan to form the Blockchain Tech Alliance,” said Ground X CEO Jason Han. “Ground X is planning to collaborate with other outstanding local and global blockchain tech companies and institutions to develop a high-end blockchain platform and to create a sound blockchain ecosystem. We will not only be covering technologies of blockchain platforms, but also building a collaborative network covering diverse areas including security and DApp technologies.”
Orbs, which raised $118 million in a initial coin offering (ICO) in June, recently opened its Seoul headquarters, with five full-time employees hired to drive further business development in the region.
“Partnering with Ground X on innovative blockchain development will facilitate the continued evolution of both of our platforms, and enable real-businesses at the forefront of dApp development to experience unrivalled security, liquidity and scalability.”said Orbs Co-founder Uriel Peled. “It’s no coincidence that Orbs decided to open its first office outside of Israel in South Korea. With leading Korean conglomerates such as Kakao entering the space, an advanced FinTech economy with mass culture of mobile-payments adoption and favourable regulators, Korea has the potential to become the ‘blockchain nation.’ Korea is in a unique position to become the global leader in blockchain, and we’re excited to be a part of it.”