ICON, scale the blockchain is a project created by developers from South Korea, announced a partnership with the largest messenger, Japan’s LINE.
Cooperation is organized in the form of a joint venture, called UNCHAIN. According to a press release, the companies plan the development of blockchain-mainnet on the Protocol ICON and the deployment of decentralized applications that can be used by hundreds of millions of users daily.
We will remind, in January, the LINE has announced plans to add to your app cryptocurrency services within 2018, intending thereby to promote the development of blockchain technology.
Within four months a team of Japanese messenger continued to study the sector of the blockchain, and existing innovative projects, has opened a subsidiary blockchain company in South Korea and has plans to set up a separate network for decentralized third-party applications on its platform.
It is assumed that the independent blockchain-lab is a joint venture of UNCHAIN will allow developers to explore the potential of technology and innovative methods of commercial exploitation in the long term.
“We are confident that over time a greater number of conglomerates and companies around the world will begin to see real use cases and the level of efficiency that the blockchain technology can bring to their business. In ICON we have made every effort to work with them and implement it through education, research and cooperation”, — said the representative ICON — blockchain project, with a market capitalization of about $1.6 billion.
It should be noted, LINE messenger, which has practically no competitors in Japan: monthly application is actively used by over 200 million people. ICON developers note that the creation of joint ventures may lead to the fact that hundreds of millions of LINE users will use the blockchain daily ICON to access the applications.
“Given the current low level of adaptation, this access and its consequences would greatly benefit ICON and industry of the blockchain. We believe that the partnership with such players as LINE, with their scope and scale is absolutely necessary for broader and more rapid adaptation of the blockchain. That’s what we’ve been waiting for and we are happy to be the ones who allowed this to happen,” said the officials.
Interestingly, at that time, how widespread blockchain technology is only gaining momentum, some experts, including the Creator of Ethereum Vitalik Buterin publicly expressed concern about the high market capitalization blockchain-projects, not comparable with the level of adoption and use.
So, in December, when the cryptocurrency market has reached a market cap of $0.5 trillion, Buterin said that although the sector blockchain contributed to the development of financial industry, providing for a certain percentage of its value, this is not enough to justify such evaluation.
Probably, long-term partnerships and joint ventures created blockchain projects and large enterprises, can determine the development of blockchain platforms and applications, which can then be adapted around the world, and the true potential of the technology will be demonstrated when they are used on a regular basis.
As noted by the company’s officials, developers of LINE messenger attracted the potential benefits of interoperability of the companies provide the network ICON and technical capabilities that created it team.
“We believe that this proves a high level of technical and business capabilities of the team ICON. Comfortable if you work with your partners — what do you feel at the end of the day? LINE and ICON have a great mutual respect for each other,” said the officials.