Is Kakao Seeking New Investments By Creating Oversea ICO For Their New Blockchain Projects?

Kakaotalk is South Korea’s largest messaging app and it seems like they are planning on Blockchain technology with ICO launch.

Even though they are unclear what the exact business is or where they are planning to head – it stated that it will shift its focus now on developing blockchain solutions. Kakao Corp have mentioned that it is planning to announce its blueprint outline to the public during its conference on March 20th.

It also mentioned how this new blockchain project will also see how Kakao is exploring to launch its own cryptocurrency called ‘Kakao Coin’ through their coin offering ICO.

Due to launching and conducting its ICO is illegal in South Korea starting from late of September 2017, Kakao is looking for overseas jurisdictions specifically in Singapore and Hong Kong. Kakao Corp is also trying to implement its own cryptocurrency into their services such as Kakao Driver, Kakao Games, and Kakaotalk as a direct substitute for fiat currency.

With seeing how successful messaging app Telegram did on last February with their ‘closed’ presales that has fundraised well beyond a billion-dollar mark – it will be interesting to see how Kakao’s intital fund will work