Messaging Giant Line to Support Dapps on Own Blockchain
Line, the Japan-based messaging app provider, is planning to build its own blockchain to boost development of decentralized apps.
Line, the Japan-based messaging app provider, is planning to build a custom blockchain aimed to boost development of decentralized apps for its platform.
The news was revealed when the company, a subsidiary of South Korea's internet giant Naver, set out its 2018 technology roadmap at its developer event last Friday. At the event, Euivin Park, the firm's chief technology officer, said she aims to take Line's existing blockchain efforts a big step forward by launching a blockchain mainnet.
The platform, as envisioned by Park, would be built outside Line's existing products and utilize the token economy to incentivize and accelerate the development of decentralized applications, either by third parties or the firm's own developers.
To that effort, she said the company is now also moving to recruit more blockchain developers in Japan and South Korea, as well as elsewhere in Southeast Asia.
The announcement comes just days after the company launched a blockchain subsidiary, called Unblock, based in South Korea. Focusing on blockchain-related R&D initiatives, the new subsidiary was set up to integrate decentralized applications to Line's messaging platform in a bid to add more features for users.
Back in January, the messaging giant also said it will launch a cryptocurrency exchange to be available through its Line Pay app. The project is currently going through the licensing process with Japan's Financial Services Agency prior to a future launch.
Line app image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.