Large technology companies are increasingly showing a keen interest in creating their own cryptocurrency, and after it became known about the ongoing ICO Telegram, this interest became even more pronounced.
The company LINE, known for its popular solution for instant messaging in Asia, aims to create a cryptocurrency in the near future and will serve mainly to reward users of the platform, in the end, such platforms will not be successful without its users, writes themerkle.com.
At the moment not so much information about cryptocurrency popular chat application. It is known that it will be called LINE Q. in addition, in January of this year, LINE announced the application for the launch of cryptocurrency exchanger and pending approval from the FSA of Japan is planned to be launched at the end of the year.
In contrast to what could be expected from most people, this currency will not be sold through ICO. Instead, it will be created with the sole purpose to reward users and issuing tokens as compensation. The company prides itself on not selling these tokens to raise additional money, but rather to create a useful real service through ecosystem-based chain.
“While Google is a giant company and has many technical advantages, LINE has over 200 million users and a rich application experience, which can give us a competitive advantage in the blockchain industry,” commented CTO of the company, Park Iovine.
No one will deny the success of the LINE today. With a new emphasis on the blockchain and cryptocurrency on loans and insurance, for the Asian technological giant on the horizon visibly seen a lot of exciting possibilities.