Klaytn, a blockchain project led by Internet giant Kakao,
announced that Binance will join its governing board.
In a
joint press release shared with Cointelegraph on October 22, Binance announced
that it will join the governing board of the service-focused blockchain
project, Klaytn, to further boost the mass adoption of blockchain technologies.
Binance
joins 24 other member companies, such as LG Electronics, Unionbank of the
Philippines and Celltrion, to make key decisions for the commercial and technical
development of Klaytn.
According
to the press release, Binance is the first blockchain company to join the
council. In addition to working on the governance of the network, the exchange
will also participate in the operation of the consensus nodes.
Ground
X, the blockchain wing of Kakao, launched the main network of its Klaytn
platform on June 27 and hopes that the platform, which focuses on decentralized
applications, will drive blockchain adoption in South Korea.
The
Klatyn network raised about USD 300 million in two initial rounds of supply of
different currencies earlier this year. The network's blockchain technology
will form a basis for a blockchain-based payment system that Ground X developed
along with the Irish startup, Festy.
Hyundai
blockchain wing cooperates with Kakao
Cointelegraph
previously reported that Hdac Technology, the blockchain wing of South Korea's
largest automaker, Hyundai Motor Group, was seeking to cooperate with local
blockchain companies such as Ground X, hoping to further develop its plans to
establish funds. joint ventures with financial companies "to discover and
encourage small but promising blockchain companies".
SOURCE: Cointelegraph
