In this article, you will learn what is Kako and what is Kakao's blockchain platform. This age is the age of lifestyle platforms, where the single targeted companies are less likely to compete with them. A South Korean company called Kakao is also a lifestyle company trying to play an important role in every platform they could get into.
What is Kakao?
Kakao is a South Korean internet company that was established in 2010. It formed as a result of a merger between Daum Communications and the original Kakao Inc. In 2014. the company was renamed Daum Kakao. The company rebranded once more in 2015. reverting simply to Kakao.
Kakao was approved by South Korean regulators to become the nation's first internet-only bank in 2017. The internet bank engages in the same business as commercial banks, including processing deposits, loans and wiring money. Consumers will no longer need to visit a bank open a new bank account or to get a loan.
Kakao's business plan was considered innovative, and the company's business model was expected to secure sizable customer sign-ups relatively easily, based on the users of KakaoTalk, which is the country's most popular messaging application.
Kakao is a mobile lifestyle platform company with services spanning messaging, mail, search, news, advertising, gaming, e-commerce, music, maps and more. Its content platform offers a diverse array of content that can be enjoyed by users of all interest ranges.
Daum News offers tens of thousands of news articles from top news outlets every day, and Story Funding, the country's first crowdfunding service, is building a healthy platform for new information in hand with users.
Kakao Music, Kakao Page, Daum Webtoon and more, enrich user's daily lives enabling users to easily share and enjoy music, cartoons, novels and more.
Kakao Game is a mobile gaming platform that allows users to compete with friends on their social graph. Its popularity has resulted in explosive growths for the Korean mobile gaming industry while establishing mobile games as a mainstream phenomenon.
What is Kakao's Blockchain Platform?
Klaytn is an enterprise blockchain platform developed by South Korean internet provider Kakao. Its modular network architecture is designed to enable businesses to conveniently customize and operate their own service-oriented blockchains built atop Klaytn architecture.
These autonomously operated subnetworks are called Service Chains, and provide the core of Klaytn's enterprise-friendly ecosystem. The flexibility and customizability of these Service Chains means that any kind of web service can reliably build on Klaytn, although the platform excludes projects on or centered financial speculation.
The Klaytn mainnet launched in June 2019 and quickly attracted more than 40 Initial Service Partners (ISPs) covering a broad spectrum of industries and use cases ranging from entertainment and e-commerce to healthcare and finance. These ISPs span over a dozen countries, of origin and were selected based on the quality of their blockchain-based services and size of their existing user bases. Examples of ISPs thus far include
Humanscape, a data marketplace that handles patient-generated health data; Atlas, a blockchain-based travel content and transaction platform developed by Chinese luxury travel company Zanadu; and REDi, a blockchain-based marketplace for new and renewable energy.
Bottom Line
Kakao, being one of the most developed and successful enterprises in South Korea, is always trying to keep up with the technology and blockchain system. If you are interested in Kakao, this is about what is Kakao.
