Binance has joined the governance council of Kakao's Klaytn blockchain network as the project scrambles for partners and "Use cases" and seeks to building its legitimacy.
Binance, one of the largest crypto exchanges by trading volume, is the latest member of Klaytn's 24-company board.
The board makes key technical and business decisions for the network and is involved in the development of applications utilizing the blockchain, according to a release from Binance on Tuesday.
Klaytn is operated by Ground X, which was formed in 2018 and is a subsidiary of messaging app Kakao.
The blockchain's mainnet went live in June this year.
The statement suggests that Binance's admission to the Klaytn governance council will lead to closer cooperation between the Korean blockchain, its partners, and the exchange.
"Ground X and its public blockchain project Klaytn share a mutual vision with Binance in fostering and stimulating sustainable growth in the industry and to bring meaningful use cases," Binance's CFO Wei Zhou, was quoted as saying in the statement.
Klaytn is currently working with Woori Bank and Shinhan Bank, two of the largest lenders in the country, on blockchain-based financial offerings while Samsung Electronics has developed a KlaytnPhone.
The network powers Klip, a digital wallet that supports Kakao's Klay cryptocurrency, which was listed in Indonesia last month.
The cryptocurrency is key to the functionality and use of the Klaytn platform in the region.
Binance Joins Governance Council of Kakao's Klaytn Blockchain
Publié le Oct 23, 2019
by Coindesk | Publié le Coinage
Coinage
Nouvelles récentes
Voir tout
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.