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ICON, the $ 1.6 billion blockchain project created by South Korean developers, entered into an official partnership with LINE, Japan's largest email application that supports more than 200 million active users per month.
LINE entry into the cryptocurrency exchange market
On January 31, CCN announced that LINE would launch a cryptocurrency exchange in 2018 with the intention of entering the global cryptocurrency industry and promoting research and development. development of blockchain technology
Since then, over the last four months, LINE has continued to explore the blockchain sector and the innovative projects that are found there. This week, LINE announced that through a joint venture called UNCHAIN, the LINE development team will deploy various decentralized applications (dApps) and its mainnet blockchain on the ICON blockchain protocol
The official press release obtained by CCN noted that LINE and ICON will collaborate to develop and deploy a wide range of dApps that could be used by hundreds of millions of users on a daily basis.
With the creation of its independent blockchain laboratory, LINE's development team will begin to explore the potential of blockchain technology and look for innovative ways to market technology in the long run.
In an interview with CCN, the ICON team stated:
"We believe that over time, more and more conglomerates and businesses worldwide will begin to see real cases of use and gains Efficiency that blockchain technology can bring to their business At ICON, we worked diligently to work with them through education, research, and collaboration. "
ICON could be used by 200 million active users
LINE, which is the most used messaging application in Japan, has over 200 million active monthly users on its platform who send and receive messages daily. The ICON team told CCN that the joint venture between ICON and LINE could allow hundreds of millions of LINE users to use the ICON blockchain daily to access the dApps.
"At the current low adoption level, this access and this impact would greatly benefit ICON and the blockchain industry.We believe that partnerships with players like LINE with such reach and such a scale are absolutely necessary for a wider and faster adoption of blockchain.It is something we all expected to see and we are delighted to be the only one to do it, "explained the & # 39; 39, ICON team.
Up to now, the blockchain sector still does not see the widespread adoption of blockchain technology and several experts, including Vitalik Buterin, founder of Ethereum, have publicly voiced their concerns the large valuations of blockchain projects that are not comparable to their adoption. use.
In November, as the cryptocurrency market reached a market value of $ 0.5 trillion, Buterin has brought some value to major industries such as finance and technology, it has not done enough to justify its valuation.
"The total capitalization of cryptocoin reached today $ 0.5T But have we won? How many unbanked people have we banked? How much trade Censorship resistant to ordinary people have we allowed? How many dapps have we created that have significant use? " Buterin said adding The answer to all these questions n & # 39; is certainly not zero, and in some cases it is quite significant. But not enough to say that it's 0.5T $ of significant level. Not enough. "
Long-term partnerships and joint ventures between blockchain projects and large-scale conglomerates allow the development of blockchain platforms and applications that could potentially be adopted globally and actually used regularly to demonstrate the potential of blockchain.
Regarding LINE, the ICON team stated that LINE's development team was drawn to the benefits of interoperability offered by the ICON network and technical capabilities of the ICON team
"We believe that this demonstrates the quality of the technical and commercial capabilities of the ICON team.At the end of the day, it's about how good you are at the # 39 with your partners LINE and ICON both have strong mutual respect, "said the ICON team
Pictures of Shutterstock.
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