Ground X, the Blockchain Subsidiary of Internet Giant Kakao

Ground X is the blockchain subsidiary of the leading South Korean Internet company, Kakao. Ground X aims to tap new and innovative blockchain technologies that can be adopted by the mainstream market. They created a scalable Blockchain platform called Klaytn and are looking to create more DApps to become the global leader in the Blockchain industry. What separates Klaytn from other DApps is that it does away with the hassle of wallets, private keys, and cryptograph addresses in order to bring in mass adoption. Therefore, it will also feature tutorials on Blockchain services and technologies.

The Klaytn Public Testnet Baobab

Ground X and Klaytn

The Klaytn public testnet Baobab was launched the first quarter of 2019. Baobab features new functions and developer tools for greater security and usability. They also incorporated account management functions. This was put in to help users choose their own account names to make them easy to remember.

Kakao understands that Blockchain is the future. Kakao Talk has 50 million monthly users. Therefore, it makes sense that they would want them to transact with each other. This is why they created Ground X. This does not mean Kakao is looking to put their Kakao Chat on the blockchain but rather create a new platform on the Blockchain.

Kakao Token?

In order for Kakao to really monetize their service, they would ultimately need their own token. Kakao is not just a messaging app. They have many different segments such as banking, transportation, and gaming just to name a few. This is why Ground X is so important to Kakao. If at any point Kakao wants to transform their service onto the Blockchain, Ground X can help in that transition.

Ground X is based in Tokyo. The reason for this is due to Korean regulations. Japan has a more lenient regulation. Also, they are looking to tap into the gaming services companies which are vast in Japan. Game developer Wemade Entertainment Co. and Chinese travel agency Zanadu are among the 26 companies that will run their applications on the Klatyn platform.

In order for mass adoption, it seems the easiest way in would be through gaming DApps or content sharing DApps. However, the key will be making sure they are able to offer a great UX experience as well as a great DX (Developer Experience).

Ground X Global Partnerships

Ground X and Orbs

Ground X is active in gathering strategic partners like Orbs and are currently looking for other global partners interested in developing the Blockchain Ecosystem together. They already raised over $90 million and will look to raise an additional $300 million so that Ground X can develop its own token. “There’s going to be a wide spectrum of services […] we’re continuing to have conversations with Kakao.”

The continued success of Ground X comes as South Korean lawmakers are still working on regulations and their current zero-tolerance policy to ICOs, which became illegal in 2017.