Kakao’s public blockchain platform Klaytn will release its mainnet in June and put it into full operation. Kakao, Korea’s dominant mobile messaging app operator, is gearing up to look for new opportunities with the launch of diverse services from partners in time for the release of the mainnet.

Kakao’s blockchain technology company Ground X held “Klaytn Partners Day” in its office in Pangyo, south of Seoul, Wednesday and announced the “vision for Klaytn and its future plan.” Nine companies who had formed new partnerships with Klaytn were disclosed in the event.

“We will lead mass adoption by proving the value and utility of Klaytn’s blockchain technology,” Ground X CEO Han Jae-sun said. “We will build up the Klaytn platform so that developers and service providers won’t feel inconvenience in using blockchain services.”

Klaytn released its private testnet “Aspen” last October and plans to unveil the public testnet “Baobab,” which will be used by developers and service providers, March 29. The mainnet is due to be released formally in late June after a test period. “We will offer an optimized environment to help companies develop and operate blockchain services by providing user interface (UI) enabling users to exploit blockchain services conveniently,” said Han, adding that top priority will be given to creating successful real use cases through partnerships with blockchain service providers having a broad user base.

The Baobab version has complemented its UI like the user account, TX Tracking and service chain for private data support. Klaytn also upgraded its developer experience (DX) environment by improving stability and usability.

A few overseas projects included in third round

Ground X also announced nine more initial service providers to help expand its ecosystem. The addition will bring the number of Klaytn’s partners to 26 in addition to 17 chosen in two rounds earlier. The third partnership included projects in various fields such as social dating, bike sharing and health care. They are Dodo Point’s reverse ICO (initial coin offering) model “Carry Protocol,” social dating service “Pallete,” ticketing service “GET Protocol,” game service “The Sandbox,” bike-sharing service “Uchain,” blockchain-based security solution “QueryPie Protocol,” digital marketing “SIXR” and Ireland’s hardware payment service “Festy.”

Unlike in the first and second rounds, a few overseas projects in Asia, Europe and North America have been included. This appears to be a move aimed at beefing up its global competitiveness. “We have partnerships with blockchain applications (BApps) having boasted real use cases. We expect Klaytn’s clout to be firmer if more diverse services join us after the release of the mainnet,” Han stated.

Partners are supposed to contribute to enhancing the platform’s degree of completion by using Klatyn’s testnet and suggesting technical improvements and release BApp services in time for the opening of the mainnet. Partners are expected to unveil their services within three months after the release of the mainnet.

There will be additional partnerships too. “We have a plan to announce the fourth round before the opening of the mainnet in June. Our aim is to let 100 services run on Klaytn,” Han said.

400 million potential users

Klaytn expects users of partners to be potential customers for its blockchain services. This is a strategy seeking to popularize blockchain by attracting users of partners to the Klaytn platform. KakaoTalk’s immense users will also become Klaytn’s major customers.

“Klaytn can set itself apart from other platforms in that it has already secured channels to induce users. About 400 million users will be secured if Kakao’s existing users are added to users of partners,” Han said. At this time when it’s urgent to popularize and commercialize blockchain services, Klaytn seems ready to take the lead.

Klaytn also expects the PoC (Proof of Contribution)-centered governance model to stimulate the participation of platform users. Namely, a discriminative reward policy conducted in accordance with contributions by users could build a virtuous circle of tokens and lure real users to the ecosystem.

“We adopted a compensation model that comes in line with participation in the platform like governance and services. The expansion of users through the token compensation scheme will result in the Klaytn ecosystem standing on its own in the long run,” Han said.

Prove value and usability of blockchain technology

The Governance Council will also be in operation to build governance while running Klaytn nodes. This is a scheme enabling a group of global IT service companies having businesses and respective user base to determine Klaytn’s major policies. “About 30 entities will take part to build nodes and governance. Proven participants will run the platform more cleanly and transparently to keep their name value high,” Han further stated.

“Investors” comprised of global investors also promised continuous investment. A number of venture capitals took part in Klaytn’s 100 billion won initial funding last year and are ready for more investment to help build the ecosystem.

“No other projects have been launched yet with this scale in terms of users and partners. We will focus on creating successful user experience with partners to make the blockchain industry advance a step further,” Han said. /edshin@decenter.kr

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