The platform which focuses on decentralized apps (DApps,) will drive blockchain adoption in the country as is the hope of the masses. Several major companies in the region are using the technology from launch, including LG.
Ground X’s chief executive, Han Jae-sun, said the firms using Klaytn have a combined market value of $64.8 billion.
Nine DApps are available on the platform which includes a program that rewards diners for leaving restaurant reviews and Kakao hopes to have 34 DApps available by October.
The launch is significant because of Kakao’s dominance in South Korea, where it has a 96% market share. It has also been reported that the company was planning to release an integrated cryptowallet in its KakaoTalk messaging app once the Klaytn mainnet launched.