One of the largest social media and technology heavyweight company named Kakao and based in South Korea – is in today’s crypto news for joining the fray and taking a place in one of the most forward-thinking companies that are embroiled in crypto.
According to the recent push for the adoption of this innovation, Kakao seems interested in the world of Bitcoin and altcoin cryptocurrencies. It has a user base that counts millions of people – in fact 44 million – which could soon become crypto users thanks to a new report and crypto wallet feature.
Even though this is not yet confirmed, a media outlet named Financial News (FnNews) recently reported that Kakao’s 44 million user base that are using the popular messaging platform KakaoTalk – will soon be exposed to digital assets such as Bitcoin. Following these news, many industry insiders commented that the Jeju-based company will use a “crypto wallet” and give millions of South Koreans the ability to interact and indulge in a variety of blockchain ecosystems.
The report also says that using the application will be easy – or as easy as sending a message. In that manner, users could send or request for cryptocurrencies in a few clicks, reducing the barrier to entry completely.
What’s interesting is that executives from Kakao are neither denying nor confirming these rumors. One unnamed representative, however, did note that the company is looking into blockchain technologies. From this, it is logical to assume that Kakao at least has some form of a crypto storage prototype technology.
And while Kakao is mysterious when it comes to the new things happening at the company, another South Korean technology giant named Samsung – recently revealed the “Blockchain Keystore” feature that is built into its Samsung S10 smartphone lineup which launched last month in order to widespread the hype. According to users, this can store Bitcoin but also work like an Ethereum-centric dApp browser.
Per analysts, Kakao should definitely mimic Samsung’s move and create something valuable in the crypto world, going in line with the trend and giving its user base something more innovative and more usable to implement.
Let’s just hope we see an official announcement soon!
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