Digital services and mobile applications represent a billion dollar industry in today’s world. Companies like Facebook, Google, and Netflix are so important in the fields of online content, social media, and sharing. Messaging applications like Whatsapp, Kakao, WeChat, and others also represent a huge part of today’s online landscape. Line, one of the biggest messaging companies in Asia, is making the headlines today as it has announced that it will create and launch a blockchain focused subsidiary company. This is very big news and it shows that more and more companies are truly understanding the potential of the blockchain and of cryptocurrencies for the future.
The firm has announced that it will open a sub-company called Unblock. This subsidiary of Line will have its headquarters in South Korea. The purpose of this new branch is to research potential applications of the blockchain technology that could benefit the messaging service and opportunities that could arise using digital currencies.
This Blockchain subsidiary company will focus on certain markets in Asia, targeting Japan, South Korea, and other nations. Recently, Line had announced that Line Pay, their micropayments mobile application, would include virtual currencies moving forward. Furthermore, Line has previously launched the Line Financial Corporation, a subsidiary company that is also focused on the blockchain technology, its applications, and decentralized currencies.
This follows a similar move made by Kakao a few weeks ago. Kakao is another messaging giant based in Korea, who has launched Kakao Pay and has integrated cryptocurrency payments for merchants and customers. It has also created a subsidiary specialized in blockchain applications.
Digital services companies are slowly getting interested in cryptocurrencies and its underlying blockchain technology. Will we see giants like Facebook and Apple join the trend in 2018?
TLDR: Line, a popular messaging platform in Asia, has announced that it is launching Unblock, a subsidiary company that will research the blockchain technology and its applications. Line is already involved in the crypto space through Line Pay.