According to an improvement published by Fora on March 23, a partnership was signed between Internet giant Kakao Corp and an Irish-based blockchain startup firm to create blockchain based payment systems. In addition to being one of the world's largest internet companies, Cocoa is also known as the producer of South Korean messaging application KakaoTalk.
The new partnership will essentially combine Cocoa's blockchain platform technology with Ireland-based payment firm Festy and focus on the development of blockchain-based payment systems. Ground X, an affiliate of Kakao, announced that they could build a new ICO in the middle of March after they collected $ 90 million from investors.
Ground Xis blog page was first announced by Festy on March 22, and Klaytn platform was announced in July 2019. Festy founder Graham de Barra said in his comments on the issue that this platform will be based on blockchain technology and can be fully controlled. He added that the platform is still focused on privacy, and added that:
. We can provide a more transparent system for operations, where consumers can be rewarded for their contribution to the large data set up around them. The more they enrich this data, the more they can earn. Veriy
The news from Fora emphasizes that the partnership also includes an investment in the Festy platform, but not exactly how much. Since the beginning of 2018, cocoa has been continuing its services of cryptocurrency and blockchain.