Dunamu, the fintech arm of South Korea’s largest cocoa-based Internet corporation. Reportedly it plans to open a blockchain service platform to help companies launch their business through blockchain technology.
The platform, called Luniverse and maintained by the Lambda256 blockchain research laboratory. It is designed to help IT startups develop blockchain services. The platform is reported to have a high level of security and an automated scaling feature that can adjust the size of the blockchain according to the amount of data stored on it.
To implement the service, Dunamu reportedly worked with blockchain companies that provided various blockchain applications and products for their customers’ businesses. Park Jae-hyun, the CEO and former research director of Lambda256, said that, “In the past, many companies have built their own blockchain. And one alternative is to outsource the building of a blockchain in the form of a service offering on cloud systems.”
The integration of its cryptocurrency wallets
Yesterday, Cocoa announced the integration of its cryptocurrency wallets into its KakaoTalk messaging app. This will allow over 44 million South Korean KakaoTalk users to send peer to peer transactions through the Kakao crypto wallet.
Also in March, Cointelegraph reported that cocoa would repeat its initial coin offering, after the equivalent of EUR 79.2 million was raised by investors. Klaytn, the blockchain platform for which the spin-off company Ground X is responsible. Now wants to raise another 80 million euros. In December 2018, cocoa had announced for the first time that the company wanted to spend the equivalent of about 264 million euros on Ground X to develop its own token.
As reported in February, operating costs of cocoa related to new businesses. Such as Blockchain and Artificial Intelligence, amounted to approximately € 50.6 million in the fourth quarter of 2018. This should have led to a balance sheet loss for the entire period. Adjusted sales of cocoa amounted to 3.3 million euros.
Also published on Medium.