Kakao’s blockchain Klaytn Gets Audited By Quantstamp; Secures Eight Service Partners Jul 10, 2019 Jul 10, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJuly 10, 2019 by Kelly Cromley

Kakao’s blockchain Klaytn Gets Audited By Quantstamp; Secures Eight Service Partners

South Korea’s leading mobile platform Kakao, which launched its mainnet on June 27, has stated that its public blockchain platform Klaytn has signed up eight more initial service associates.

Committed to affirming the importance and usefulness of blockchain technology by offering a blockchain solution for widespread adoption, Klaytn offers an intuitive and simple development environment.

Klaytn partnered with major blockchain initiatives run by big customer pool-based utility providers in multiple sectors with a task to encourage mass acceptance of blockchain technology for millions of customers worldwide.

A maximum of 51 business associates have partnered Klaytn so far to deploy their readily-usable blockchain solutions on Klaytn.

With this, Klaytn has built the world’s biggest client base for a single blockchain system having over 700 million consolidated clients from Klaytn’s 51 business providers and 23 representatives of the Governance Council.

Along with partaking in the Klaytn Governance Council, ‘Hi, Inc.’ is also introducing its blockchain product on Klaytn as an initial service associate.

Hi, Inc., is a Hong Kong-based unicorn company involved in worldwide tourism and leisure business offering their services to hotels.

Hi’s blockchain initiative ‘PASSPORT’ serves over 140 million customers in the tourism industry and offers an all-in-one tourism related services ranging from purchasing airline tickets to hotel reservations, and planning sightseeing tours.

Pledgecamp presents the world’s first ‘Backer Insurance’ escrow wallet infrastructure for its crowdfunding system, enabling anyone to join effortlessly in crowdfunding initiatives. BlockPet’ is a blockchain-based community forum for animals and pet owners.

The initiative enables pet breeders to document and handle health information about their pets in an effort to provide efficient treatment practices and eventually deter abandonment or unforeseen casualties. Project WITH’ is a sports career mentoring forum that uses blockchain technology to connect soccer teams, organizations, athletes and supporters.

Players and supporters can be compensated with data on sports career while clubs and representatives can use cryptocurrency to buy such data. Other significant associates include ‘Pibble,’ the image-based social network platform ; ‘ARGear,’ the Seerslab-backed AR-technology powered content environment; ‘DATA,’ the U.S. based blockchain-powered digital data validation covenant; and ‘Tokky,’ Bulgaria’s blockchain-powered prepaid loyalty and point disbursement framework. Klaytn continues with its plans to build ecosystems and hosted a mainnet release event for associates and reporters in Seoul on July 9.

The show featured 9 blockchain products including ‘Hintchain,’ the food information marketplace based on blockchain, ‘Antube,’ a short-video recreation facility, and ‘Pibble,’ a SNS service based on image. The facilities is planned to be launched at the beginning of July.

In other stories, Quantstamp, a blockchain safety firm backed by Y Combinator, finished its review of Klaytn’s smart contracts.

Klaytn is a business-oriented blockchain system intended for mass implementation, developed by GroundX, a Kakao company. “The biggest challenge facing blockchain applications today is user adoption,” states Quantstamp CEO Richard Ma. “With more than 90% business presence in Korea and 40 million monthly active users, Kakao seems to be well equipped to take blockchain to a huge and active customer base.”

Quantstamp is a Y Combinator-backed blockchain safety firm that performs smart contract audits and also creates security tools, facilities, protocols and other autonomous QSP-enabled security devices.

The Quantstamp Security Network intends to improve smart contract protection and credibility ventures that generate smart contracts by generating publicly available test records. Recently, Quantstamp started its operations in Japan.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.