Korean Businesses Come Together to Form Massive Blockchain Council Similar to Libra's

Geoffrey Gardiner   Nov 28, 2019 11:30 - 2019-11-28T114417.713.jpg

Korea’s internet giant Kakao is bringing crypto and blockchain adoption to the Asian markets. A huge consortium of financial giants and big brands have joined together to form a Governance Council relating to all matters blockchain. 

Blockchain platform Klaytn has 27 companies in total, forming the council from all types of financial markets, aiming to work closely together to embrace fintech opportunities to work together in emerging markets.

Some of the major players in the council include; LG, UnionBank, CellTrion, and Binance. 

Building awareness, the council has exposure to many different user’s data, combining their knowledge for a global scale campaign into all Asian regions. UnionBank bringing vast resources from Southeast Asia and LG, bringing their expertise in technology shows the level of experience and direction that the council could tap into. 

Much like Libra, it is possible a crypto ecosystem of some sort could be created, Klaytn has not yet announced the plans for it, but when banks, payment systems, crypto exchanges, and large companies come together to get involved in blockchain, we will likely see much more development into a one-world currency free from cross border restrictions. 


Image via Shutterstock



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