South Korean Internet giant Kakao confirmed that he is working on a blockchain platform, but denied the rumors about the conduct of the ICO.
As reported by local publication Yonhap, at a press conference organized on Tuesday, the operator of South Korea’s largest messenger Kakao Talk said it created a new division to start developing blockchain platform, which is expected to be completed by the end of the year. The new product should become a sort of basis for application developers.
According to the Executive Directors of the company: Joh, su-Yong and yo Min-su, a project called Ground X also needs to integrate future services based on blockchain technology with existing Internet applications Kakao.
Currently, we will continue to work on the implementation of our capacity through the integration of services between the companies Kakao and active expansion on the international market.
As reported in another edition – ZDNet, Joh, one of the Executive Directors of the company, denied rumors that the company is considering the option of creating their own cryptocurrency Coin Kakao and conduct of the ICO.