South Korean Startup Dunamu Likely to Launch Blockchain Service Platform

South Korean startup Dunamu, which is planning to launch a blockchain service platform, built to help companies exchange currencies across the border. The platform is known as Luniverse and is supervised by the research lab Lambda256. It helps in gearing IT start-ups to initiate blockchain-based services. The platform is said to have a notable level of security, apart from an automated scaling function. This can adjust the size of the blockchain according to the stored data.

Dunamu collaborated with various blockchain companies that offer various apps and products, following clients’ business fields. Earlier, a number of companies built their own blockchain, but outsourcing the same is easier and cost-effective.

Meanwhile, Kakao, an investor in Dunamu, announced that it will be collaborating its cryptocurrency wallet with its messaging app KakaoTalk. This will enable more than 44 million of its user to transact using the Kakao-powered wallet. Earlier in March, Kakao announced that it will repeat its initial coin offering after netting $90 million from investors. Klaytn, the blockchain platform, which is responsible for conceptualizing the spin-off firm GroundX will be raising $90 million. In 2018, Kakao had announced it was planning to raise money through GroundX to develop its own coin.

In 2018, Kakao spent on new businesses like blockchain and artificial intelligence, which were worth $57.5 million. This led to a loss for the whole period. Kakao’s consolidated operating income was $3.8 million.

Meanwhile, Jae-Hyun Park, formerly Lambda’s head of research will be the new inaugural CEO of the company. At a press conference held in Seoul, Park said, “We hope to inject new energy into the blockchain developer community through the official launch of Luniverse and power more innovations,” Park said. “Our goal is to become the industry’s top blockchain-as-a-service (BaaS) platform by 2020.”

He was basically talking about the company’s mission to accelerate the commercialization of blockchain services and stressed Lambda’s ambition to become a leading blockchain platform. Talking about the future of blockchain, he further said the technology could either become a big hit like the Internet or could fall back into the mainstream. Lambda’s main aim is to make the blockchain mainstream so that it can help companies develop their own blockchain-based decentralized platform. It’s a vision to make a blockchain enabler. Its main aim is to promote blockchain as a versatile and effective solution for the limitations in the existing infrastructure.

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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