Chat giant LINE’s mobile platform subsidiary LINE Plus has officially announced the launch of a blockchain subsidiary ‘Unblock.’
The initiative marks the company’s first venture into the blockchain space. According to ZDNet, Unblock will focus on blockchain education and market research and help the expansion of South Korean virtual currencies to Japan and Southeast Asia.
“[Unblock] is expected to add new value through technological innovation by combining blockchain technology with various services in LINE,” LINE Plus said (loosely translated).
LINE Plus also hinted at the possibility of Unblock issuing its own virtual currency and acting as an exchange.
Furthermore, LINE intends to actively invest in blockchain technology in order to take a leading role in the blockchain industry, an executive said.
“We are planning to hire various talented people with expertise in the field of blockchain," he added.
The announcement comes on the heels of South Korean chat giant Kakao establishing its own blockchain subsidiary ‘Ground X’.
