South Korea’s Kakao FinTech Arm Dunamu Launches Luniverse Blockchain Service with Lambda256


Dunamu, which has been established as a fintech arm for the most extensive cooperation in South Korea referred to as the Kakao, has just gone ahead to launch a new blockchain service platform that has been designed to help the different companies in the market to easily start businesses with the use of blockchain technology. This is according to a report done by Korea JoongAng Daily on the 19th of March.

More on the New Service Being Offered

The platform will be referred to as the Luniverse; it will be supervised by the research lab of the blockchain technology Lambda256. It has been geared towards helping IT startups to be able to develop a blockchain based service.

It has been reported that the platform has been designed with a high level of security together with an automated scaling function, one that will be able to adjust the size of the blockchain according to the amount data that has been stored in it.

To ensure that the service has adequately been incorporated, the Dunamu platform went ahead to collaborate with different blockchain companies that were able to provide different apps and products that are able to follow the client’s business field.

The CEO and former research head of the Lambda256, Park Jae-hyun went on to say that a lot of companies in the past were able to build their own blockchain. But the alternative option is going to outsource the establishment of the blockchain technology, but this will be in the form of a service that is being offered within the cloud systems.

More Developments Taking Pace in the Platform

Kakao went ahead to announce yesterday the new integration of the crypto wallet that will be in there messaging app, the KakaoTalk. With the wallet, it has been said it will enable over 44 million users in South Korea on the KakaoTalk to be able to efficiently send the peer to peer transactions with the use of the Kakao wallet that has been powered by the crypto technology.

Additionally, in March the Cointelelgraph went ahead to report that the Kakao company will also be repeating their initial coin offering after they were able to net about $90 million from there different investors. The Klaytn is the blockchain platform that was responsible for the spin-off firm Ground X, it will now be seeking to raise yet another $90 million.

Last year December the firm made the very first announcement that they would be raising $300 million through the development of the Ground X to ensure they develop their own token.

It was also reported in February that during the fourth quarter of 2018 the operating expenses for the company that was related to the new business like the artificial intelligence was about 65 billion won, which is roughly $57.5 million.

Thus, this led to a net loss experienced in the company throughout the whole period. The consolidated operating income for the company was coming to about 4.3 billion Korean won, which is about $3.8 million.

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