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Cryptocurrency

Messaging Giant LINE Discloses an ambitious plan for Crypto based Token Ecosystem

One of the renowned messaging apps from Japan, LINE has recently disclosed its plans to introduce an ambitious crypto-based token ecosystem by this year-end. With the strong aim of capitalizing the company’s large user base where LINE is believed to have more than 160 million monthly active users.

The plans are similar to the LINK Token that the company introduced earlier. With the $10 million venture capital fund and a newly introduced cryptocurrency exchange in place, LINE said in its statement “its initiative will focus heavily on the development of decentralized apps or dApps, that are tied to the LINK blockchain.”

The entire plan reflects the remarkable enterprise based efforts of 2018 to apply blockchain application for numerous cases. LINE would like its LINK Token to be served by fueling a wide range of consumer-facing applications for payments related activities.

The main goal of the company is to create token and associated applications that can be easier to use and can help migrate all those millions of users to the crypto economy as reported during the presentation at CoinDesk. The idea behind the entire concept is to reward users through dApps instead of distributing LINK Tokens. Thereby developers can utilize the company’s blockchain application to create an application of their own. Needless to say that LINE’s plan for assisting the scalability of its platform is quite ambitious.

Amid this, LINE actively focuses to introduce its framework for the LINK Token and LINEAR NETWORK in December this year as per the company’s official presentation. With this, LINE supports its developer resources before introducing its crypto-based token ecosystem!!

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Shalin Soni

Shalin joined CryptoNewsZ as Associate Finance (Cryptocurrency Research & Analysis) in 2018 and has 10 years of collective experience to work on financial modeling and financial planning & analysis activities (fp&a) domains. He has worked with various organizations in India and added values by leveraging his skills and expertise. He has strong domain expertise in research & analysis, valuation, and fp&a!! You can also mail him at [email protected] to discuss anything related to his reports.

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