Priyeshu Garg · 1 day ago · 2 min read
ICON (ICX) has announced a new partnership with LINE Corporation, the Japanese-based app development company best known for its LINE social media platform.
Together, the companies have co-founded ‘Unchain’ in order to construct LINE’s blockchain-related services that will be integrated via the ICON network. With over 200 million daily active users, LINE’s integration into the ICX blockchain ecosystem will be a huge benefit to the South Korean network.
I just published “Joint Venture between ICON and LINE: ‘Unchain’” https://t.co/3xpHhuWl38
— ICON (@helloiconworld) May 15, 2018
Blockchain Solutions Unchained
Unchain was formed earlier in the year as a subsidiary of LINE, tasked with researching and developing a Dapp ecosystem that will synergize with the platform.
Alongside the official partnership ICON’s technical director, H.K Lee has been appointed as Unchain’s CEO providing the team with experience in both blockchain and artificial intelligence.
These types of long-term partnership and joint-ventures between blockchain projects and industry leading conglomerates demonstrate a concerted shift in the online services market.
By collaborating with such a ubiquitous social platform, ICON has the potential to be a part of people’s daily internet interaction, the team is aware of just how important this type of consistent growth is stating:
“ICON and Unblock, a subsidiary of LINE dedicated to blockchain research and to accelerate DApp projects, will be integrated with Unchain. This joint venture takes blockchain and decentralization another step closer to being a part of our everyday lives.”
LINE operates one of the world’s most popular internet platforms, providing a wide variety of different services including taxis, food delivery, antivirus, news, advertising, payment systems, manga subscription services, as well as music and video streaming services.
While the platform’s penetration into western markets has remained limited, within Asia it occupies a unique space as a cultural institution of the like of Twitter or Facebook.
By integrating a tokenized ecosystem into LINEs plethora of online services users will be able to utilize ICONs hyper-connected blockchain in order to provide reliable, scalable solutions to further expand the functionality of LINEs digital marketplace.
LINE Provides a Portal for Daily dApp Experience
Exactly to what extent LINE plans to integrate blockchain into its platform remains unclear, with the many varied internet services provided by the LINE ecosystem, ICX may see a direct integration as the token fueling the platform, or operate as an intermediary layer for users to interact with multiple service based tokens that use ICON’s DEX to transact between.
With many coins struggling to find widespread adoption and crypto enthusiasts begin to express concerns over markets evaluation when compared to regular substantial usage, ICON has secured itself an important foothold in providing a high-traffic user base. While ICON has yet to feel the impact of the partnership, the project has laid itself with a solid foundation that is sure to benefit any major dApp releases in the near future.