South Korean Company ICON Has Stepped Into Strategic Partnership With Chain Partners

On 4th June ICON announced about the ‘strategic partnership’ with Chain Partners on Twitter. The objective of this partnership is to build a “healthy blockchain ecosystem,” which will surpass the ICON’s DApp ecosystem, as per the Twitter post. One can guess the excitement of the audience by the one hundred and nine re-tweets of this post, followed by three hundred and forty-four likes, and eleven live conversations about the topic.

On this the Council Member of the ICON Foundation- Min Kim said,

This partnership is the first step towards cooperating with Chain Partners to take the lead in creating a healthy blockchain ecosystem beyond the vitalization of the ICON’s DApp ecosystem. ICON will expand the cooperation with Chain Partners, which is becoming a global blockchain fintech company, to various sectors in the future.

The ICON Foundation also gave a detailed insight on this partnership on their official blog on the medium platform. As per the blog, this partnership will explore the “listing of ICX and tokens of ICON DApps (Decentralized Applications)” on the cryptocurrency exchange of Chain Partners. The crypto exchange is called- “DAYBIT.”

Say hi to DAYBIT:

This crypto exchange is the first ever exchange which is built in “Elixir.” Elixir is a “next-generation functional language based on Erlang.” Why is this next-gen language used? Well, the purpose is to quicken the transaction speed. With the help of this language, huge numbers of the transaction will be assimilated in almost no time. Of course, it will have a youth-giving effect on the ICON’s DApp ecosystem. One can expect greater efficiency on both the platforms, i.e. ICON and ICON decentralized applications.

The good effect of the presence of Chain Partners:

This partnership with Chain Partners has brought in a lot of good effects on the ICON Foundation platform. The presence of the Chain Partners will offer a good foundation for the ICON platform and its decentralized applications. This will happen with the help of Chain Partner’s- ‘over the counter’ (OTC) support services. This will further enhance the liquidity of the cryptos on the ICON and ICON decentralized applications.

This partnership will bring about more paying facilities for the citizens of Korea. The citizens will be able to pay for goods and services with the help of ICX. There will be an integration of ICX into the payment solution. It will be made available for anybody to use it for transacting in ICX.

Future plans of the two partners:

Further, the blog revealed that the two companies are planning on to integrating ICX into something called the “Coinduck.” Coinduck is a payment service for the cryptos which will be offered by the Chain Partners. On the successful integration of the two, one can expect both online and offline “businesses affiliated” payment system through Coinduck.

On the other hand, the CEO of the Chain Partners- Charles Pyo said,

The success of a blockchain platform is affected by the performance of the tokens issued by its DApps. Chain Partners will contribute to the vitalization of the ICON ecosystem with our capabilities ranging from the development of tokens to the listing, payment, and OTC.

Last month, Blockchain network ICON entered in a partnership with blockchain based global game publishing company, MixMarvel. The collaboration will allow MixMarvel to connect gaming content creators with players to build a blockchain gaming community on the ICON network, which involves purely voluntary participation. MixMarvel is the first ever large-scale strategy blockchain game publishing company. It has over 6,000 DAU on-board. In the second quarter of 2019, we can hope to see blockchain-based games from the company. At the current moment, the company owns blockchain game series such as ‘HyperDragons’ and ‘HyperSnakes.’

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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