BlockchainBusiness & Finance

LINE Taking Big Leaps in Order to Decentralize the Web

Recently it was announced that the Japan based messaging giant LINE has added TRON, which is a global decentralized blockchain platform, to Bitbox, their own cryptocurrency exchange. This inclusion has been approved by the open listing committee of Bitbox who allowed blockchain startups to be included in Bitbox by evaluating them. Bitbox is also accepting application from blockchain projects that wish to be listed in Bitbox. Youngsu Ko, CEO of LINE Tech Plus, LINE’s Singapore-based branch that manages BITBOX said,

Integrating TRON (TRX) with BITBOX will enable us to connect with the world’s fastest-growing blockchain project, TRON has a solid tech platform, especially now it has joined forces with BitTorrent. We look forward to building a strategic partnership with TRON and offering our users the best experience available in the cryptocurrency space.

LINE had also closed its acquisition of BitTorrent this year in July. The company made this announcement via a blog post. They also informed that the regular operation of BitTorrent will be continued with a difference that it would be aiding the development of decentralized solution for its 100M users worldwide. They intend to create an “Internet of options” not of “rules”. Justin Sun, the CEO of TRON shed some light on this subject in a recent interview,

Our role as the largest decentralized protocol is to provide the best possible service to our users. Our mission is to provide a fast, safe, and reliable product that is usable both on desktop and mobile. Currently, we are actively working on Project Atlas, a major step toward a fairer Internet. The project is in collaboration with Bittorrent, and will extend the lifespan of their torrents’ swarms, offer rewards to peers who seed torrents, infuse resources into the torrent ecosystem, and establish financial rewards in return. The project will transform the way people share and consume content, helping to re-shape the industry for the better.

With the aim of further promoting the use and development of blockchain technology in mind, the company has also launched a token venture fund by its Hong Kong based subsidiary, unblock corporation. The venture has received a capital commitment of $10 million by LVC, which is also a LINE group company. This makes LINE the first ever publicly traded corporations to formalize token investments through a corporate fund.

Justin Sun, lay emphasis on the fact that how all these ventures are aimed to achieving one goal, that is decentralizing the internet. TRON was also developed in order to house the decentralized applications for the users. By promoting the DLT, they intend to ensure that the creators get the credit as well as the profit they are rightly entitled to. TRON was developed with a vision to introduce a healthy and prosperous ecosystem and that is what they are striving to achieve.

During our early stages, getting content online was one of our top priorities. Now that TRON is well established as a major public chain, we are looking beyond just incentivizing content and more toward building a healthy ecosystem. In fact, TRON is already a top blockchain operating system for decentralized apps, and our mission is to provide an affordable, efficient, and convenient infrastructure to development. Essentially, we are working to achieve our dream of decentralizing the web.

In addition, he also mentioned that these services will not be provided solely to the countries where crypto and blockchain usage and development is on a surge. They want to make it possible for people all over the world to get access to the decentralized web and benefit from it.

If you look at our portfolio, you will find exchanges from all around the world: US, Korea, Japan, India and the list continues. It is very important for us that our tokens are available to the most people since our company mission is to the decentralize the whole Internet.

He added on, that TRON has seen a massive adoption of blockchain technology with an ever growing number of users. With all the new ventures it has already introduced, they do not intend to stop now and keep coming up with new platforms that promote usage and incorporation of blockchain.

TRON has embraced a massive network with over 100 million active users. We have more exciting news coming out in the fourth quarter as well.

In a nutshell, LINE is vigorously partaking in the development of blockchain based platforms. With tech giants introducing us to newer platforms of DLT every day, the inevitability of the future, where the whole web is decentralized seems undeniable.

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Habibah Shahid

A Computer Science student but a writer at heart. Habibah writes about Cryptocurrencies and the underlying technology, Blockchain, with the perspective of a Computer Scientist. Email: habibah@blockpublisher.com or contact the editor at editor.news@blockpublisher.com

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