Cryptocurrency adaptation from Japan: "Japanese Whatsapp" line will accept cryptocurrencies

Japan-based social media platform Line will launch a blockchain technology-focused subsidiary to supplement its line-pay service with cryptocurrency.

Line, also called the "Japanese Whatsapp", is a messenger service that, like the Facebook app bought by Whatsapp, connects millions of people from Asia. However, Line is not nearly as hungry for data as WhatsApp and unites various social networking services in one platform.

With Line, contacts can also be called for free and video chats can be started. Furthermore, Line offers a connected social network with its own chronicle. This combines all functions of Skype, Whatsapp and Facebook in one app.

Line counts more than 200 million active users in the quarter, so in the near future many people will come into contact with cryptocurrencies as a possible payment option. In addition to the actual chat app, there are over 30 other apps that the company offers.

To further the development of the integration of cryptocurrencies as another payment method within the service, a subsidiary in South Korea called Unblock is founded. Unblock is expected to significantly advance research in this area and to implement the project as soon as possible. The official website states:

Add new value through technological innovation by combining blockchain technology with various services in LINE.

The possibility of payment with cryptocurrencies will be integrated into the mobile payment processing app Line Pay. The company announced in January that it will take this step, but only now are the first concrete steps to put the project into practice.

Recently, the tech giant Cocoa from South Korea had announced to integrate crypto currencies as a means of payment in his app. We think this development is very good and hope that more companies will follow soon, and hopefully also from within Europe.