March 28, 2023

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[THE INVESTOR] Korea’s leading mobile company Kakao, operator of the leading messenger app KakaoTalk, will unveil its first blockchain platform in October, industry sources said on Sept. 4.

Its subsidiary GroundX will introduce Klaytn, a service oriented enterprise-grade public blockchain platform, and its token Klay next month. The company will first launch a testnet -- a working prototype -- in October and then the mainnet in the first quarter of 2019. 

The first DApp for Kylaytn is expected to be Cosmochain, a company-to-customer cosmetics platform that operates DApp Cosmee. Cosmochain has signed a partnership agreement with Ground X. Its investment arm Kakao Investment had executed an undisclosed amount of investment in August.

By Park Ga-young (gypark@heraldcorp.com)