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South Korean ‘ICON’ Shifts Strategy Gears to Push Further the Public Blockchain Ecosystem

The South Korean blockchain technology project- ‘ICON’ seems to be moving rapidly towards its aim of creating the world’s largest decentralized networks. After last year’s partnership with a Japan-based company- ‘Layer X,’ recently the ICON has revealed its new plans and strategies that will enable them to grow their public blockchain ecosystem.

Going into the details of their strategy, the first move is them getting engaged with an enterprise blockchain alliance program. This alliance program is a subpart of a bigger international accelerator plan.  It will also involve a campaign that will help the company to shortlist different network representatives. Further, as per the reports obtained from ‘Bitcoinexchangeguide.com,’ the ICON also detailed its further plans on their decentralized exchange. They revealed an identification system which they aim to establish on their public network.

The company has quite a clear vision of applications partners. They are going especially for partners that are into the B2B products, and the B2C products. They are doing it via ICON LAP100. The ICON has been making structured decisions to expand itself in the blockchain area. It is partnered with more than thirty companies to roll on with various projects in collaboration. The New Year has simply more speedy growth, with the company already nailing partnership with 13 new companies. Overall, with the help of one hundred companies and various start-ups from various domains and sectors, ICON seeks to collaboratively develop a platform that serves in the blockchain solutions sector

Within the country, with the release of the ICX Station, ICON has become the sole platform to run the global accelerator program. ICX Station is based in popular places such as Seoul, Singapore, and San Francisco. On the other hand, in Seoul, for the ICX Station, the Deblock has been created. This move holds importance in integrating the DApp projects into the international level.

In Japan- Tokyo, the company was seen establishing a ‘launch-pad’ early this year. It has launched ICX Station and the ICON LAP100. As per ‘Bitcoinexchangeguide.com,’ ICON LAP100 is ‘enterprise blockchain alliance program.’ This program will have the loopchain as the main engine of ICON’s public blockchain.

On the other hand, this 17th Jan saw the pre-registration of the ICON Public Representative. It has resulted in the election of twenty-two representatives. This election has two phases- off- chain and on- chain. The pre-registration will be done off- chain whereas the main voting will be done on the blockchain.

Upon the completion of the election, the process will go into its next step. Here the emphasis will be on the ‘Ecosystem Expansion Project,’ which will encourage more and more people to adopt it. The design of the project is so that any member of the ICON has the power to suggest for the growth of the network. The services related to decentralized identification project called- ‘DID’ and decentralized exchange- the DEX is expected to be launched in the first half of 2019.

The company has already launched its wallet called- ‘ICONex.’ This wallet is made to support various transactions. These wallets come with user-friendly UX and UI along with a tracker named after ICON.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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