Korean Internet Firm Kakao Eyes Blockchain Expansion To Singapore

Kakao pushes its expansion plan to Singapore for Klaytn, its legacy blockchain platform, following its globalization quest. Reporting on Monday, The Korea Herald disclosed the city-state establishment of the Klaytn Foundation and Krust, the new blockchain-based entities by Kakao. Krust is a worldwide accelerator for the adoption of blockchain. On the other hand, the Klaytn Foundation is a charitable organization. According to its plan in Singapore, The Internet firm will utilize the two entities to facilitates a broad-based infiltration of its Klaytn blockchain project. In addition, the Foundation proposes its mission of active and systematic operations in its expansion of the Klaytn network. The Foundation made this disclosure earlier in August during its launch. Additionally, the Foundation states its ready to involve both human and financial resources in its commitment. It affirms that this will increase the growth rate of its ecosystem and deepen the development of its blockchain technology. Related Reading | By The Numbers: What $10 In Bitcoin Each Day Would Net Investors The $300 million development war chest of Kakao backs the Singapore expansion. Furthermore, the company inculcates an improvement reserve fund dedicated solely to service maintenance as a part of its expansion budget. Kakao’s Trend of Expansion Similar to other reputable South Korean Conglomerates, the Internet firm exhibits a bullish trend on block...