THELOGICALINDIAN - South Koreas better babble app abettor Kakao is attractive to aggrandize into the all-embracing Blockchain bazaar via a socalled about-face ICO sources report
According to bounded account media aperture The Bell March 2, Kakao, which in January aloft over $1 billion for AI investment, will additionally barrage its own cryptocurrency alleged “Kakao Coin.”
An bearding bounded industry official was quoted as saying:
Taking the advancing Telegram ICO as an credible blueprint, the communications behemothic will reportedly seek out advance opportunities in Blockchain companies.
Telegram’s offering, which is allegedly set to accession about $1.6 billion in presales alone, is an archetype of a ‘reverse’ ICO – a convenance by which an actual aggregation uses a agenda badge auction to accumulate added funds.
Coming at a time back acceptable ICOs remain outlawed in Korea, the arrangement would arise to accession questions, and Kakao is yet to affirm the Bell reports.
Nonetheless, if the auction goes advanced successfully, it could alpha a calm trend, according to addition official quoted by the publication.
“ICOs of ample IT companies will advance in Korea due to the advance of ample players such as Kakao,” he said.
Lawmakers in Seoul meanwhile abide to advance advanced with fast-paced reforms to the cryptocurrency industry. Various options abide on the table afterwards Korea allowable an anonymous trading ban Jan. 30, including a licensing scheme for exchanges agnate to those in New York and Japan.
Taxation has additionally formed a above breadth of application for legislators, while it charcoal alien whether the official position on ICOs adopted backward aftermost year will additionally change.
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Images address of Bloomberg, AdobeStock
