Blockchain arm of South Korean tech giant Kakao, Ground X, has launched the mainnet of its Klaytn platform

Ground X, the blockchain arm of South Korean tech giant Kakao, has launched the mainnet of its Klaytn platform, The Korea Herald reported on June 27.

It is hoped that the platform, which focuses on decentralized apps (DApps,) will drive blockchain adoption in the country. Several major companies in the region are using the technology from launch, including LG.

Han Jae-sun, Ground X’s chief executive, said the firms using Klaytn have a combined market value of $64.8 billion.

Nine DApps are currently available on the platform, including a program that rewards diners for leaving restaurant reviews and another that incentivizes users to upload entertaining videos. By October, Kakao hopes to have 34 DApps available.

The launch is significant because of Kakao’s dominance in South Korea, where it has a 96% market share. As well as providing messaging platforms and gaming, the internet giant offers content and financial services.

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