Northeast Asian messenger apps doing blockchain business

[pana72]

country/Messenger/Blockchain Business

Japan  >    Line    > Linkchain

Korea  >   Kakao  > Klaytn(operated by Ground X)

China  >  WeChat >  ?

[1713868152]

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[Theb]

You forgetting about Wechat's Wepay payment system which is already popular in China and is accepted even by street vendors. As early as August 2018 their have been rumors that Wechat itself is interested in integrating blockchain tech to their payment system for them to have a more reliable and fast transactions for their customers. The thing I see here is China might be like Korea where their smartphone companies will integrate a crypto wallet also within their phones, so we could have the possibility of various companied teaming up for a new and improved payment system.

[Naida_BR]

Personally, I use Kakao and I am happy that they do blockchain business and they see the potential of that industry.
I wish that Telegram would do the same and consider the benefits of integrating blockchains in their apps. As Telegram is the most used chat for cryptocurrency activities they have a huge potential for penetrating and conquer the market.

[el kaka22]

I do not think the third ones are as famous as the second ones. I mean linkchain is good and all and has some users but I am afraid its not as big as line right now, of course its an development and maybe with time it will happen or even if it doesn't happen at the very least it got some market share from them but to say its bigger right now would be a lie.

China on top of all this is also a very anti-crypto country, I mean we already saw that places like Korea that are friendly to crypto hasn't managed to create a better chat app but China is very against it and also has a strict authoritarian government so if you make a crypto chat that can't be checked by them, they will ban it with the speed of light, they need to watch what others talk and stop them before it starts.

[davis196]

This is the new trend.Instant messaging/social media apps combined with wallets and payment gateways.
Facebook is coming a bit late to the party,but they will change everything and dominate the market.
I'm not sure about adopting blockchain technology.Most of the apps will choose to create their own centralized tokens,because it will be cheaper and faster to implement.

[juperos]

country/Messenger/Blockchain Business

Japan  >    Line    > Linkchain

Korea  >   Kakao  > Klaytn(operated by Ground X)

China  >  WeChat >  ?

Wechat has launched its payment service, Wepay. I think Wepay will soon be the largest payment system in China and in Asia. You also know the vastness of China and the crypto community there.
I believe Wepay is also planning to do business in a bigger market.

[fullhdpixel]

country/Messenger/Blockchain Business

Japan  >    Line    > Linkchain

Korea  >   Kakao  > Klaytn(operated by Ground X)

China  >  WeChat >  ?

I bet someone is looking for a very big trouble from china, how do you expect weechat to come up with a blockchain program when you know their stand as regards cryptocurrency, you know that china do not fully support cryptocurrency, and the only thing that could make china bow now to cryptocurrency is when 70 percent of the whole world have adopted it, and most especially, the giant countries.

Wee chat already has its payment system which government has full control of its operation, and the transactions that foes on within, and you know that they have powerful technology they could use to control things which they have always liked, and they would never give a chance to any application that they cannot control, or would take money out of their country, you know that they like taking in more than giving out.

[Kakmakr]

Can I make a small prediction here? ---> The large social media platforms will eventually partner with Banks or be bought by a consortium of Banks, if they are successful with this. https://www.businesswire.com/news/home/20171017006772/en/Chase-acquiring-WePay-fully-integrate-payments-software

The Banks are lazy and they would rather buy out the companies or partner with them, than spending millions on developing their own Blockchain solutions. Yes, there are exceptions like the R3 Group, but most Banks would opt to buy or partner with a solution that are already developed and functioning.  

[timerland]

country/Messenger/Blockchain Business

Japan  >    Line    > Linkchain

Korea  >   Kakao  > Klaytn(operated by Ground X)

China  >  WeChat >  ?

China already has a ton of these. The earliest that I could recall seeing from that particular market would be Bixin, which as far as I know is still operational.

I personally think that the concept of social payments is extremely intriguing, especially when you consider what WeChat has done with their payment platform, essentially forming a duopoly with Alipay within the Chinese payment remittance market.

However, I'm still not entirely sold on this concept of messenger/social payments being used in BTC. It's a very niche market, and on top of that, as a user you'd always have to be concerned regarding the security of your funds; since using these services will always result in a lack of control over your own Privkeys.

[stellgod]

country/Messenger/Blockchain Business

Japan  >    Line    > Linkchain

Korea  >   Kakao  > Klaytn(operated by Ground X)

China  >  WeChat >  ?

Eeehm you forgot that China no longer supports this Blockchain of a thing and have even banned everything that has to do with the Blockchain and cryptocurrency… or am I wrong? That’s what I know. Line is making use of the Blockchain, but WeChat already has a system integrated in it that allows users to send and receive payments right from the app and that is called WePay, maybe you should check it out. This WePay is already popular among WeChat users and I don’t think they will have any plans to addany other thing to it.. Unless their government happens to lift the crypto ban, then they might decide to go for it.

[bitgolden]

Can I make a small prediction here? ---> The large social media platforms will eventually partner with Banks or be bought by a consortium of Banks, if they are successful with this. https://www.businesswire.com/news/home/20171017006772/en/Chase-acquiring-WePay-fully-integrate-payments-software

The Banks are lazy and they would rather buy out the companies or partner with them, than spending millions on developing their own Blockchain solutions. Yes, there are exceptions like the R3 Group, but most Banks would opt to buy or partner with a solution that are already developed and functioning.  

The only social media platform that I foresee banks partnering with right now is that of Facebook platform through the introduction of their Libra coin, the technology or would I call it concept of Libra coin seem to favor the banks more, and this is why government might be backing it fully.

Now that we are in the era of blockchain technology, I think they will prefer to partner with a technology that is a little bit decentralized, but yet without anonymity as Facebook claims, all other social media platform using blockchain technology will simply follow behind Libra coin, and like you said, rather than creating a new solution, they will rather partner with Facebook because it will be impossible to buy the system over.

[fiulpro]

Kakao talk is something that is not just prevent in Korea but actually is very popular all around the world , their interface is also user friendly and is actually something that attracts people.
Them using blockchain in business is more like validating how it is useful because when it comes to people they trust only when some company they know about accept that new technology.
I think this can serve as a very good example,now with Facebook also joining the team I think we do have a good future ahead and a solid foundation.

[dothebeats]

It's like becoming the trend right even before Facebook's Libra was unveiled. Well any businesses that has the weight to do hardcore advertising are diving into blockchain businesses and cryptocurrencies, and it feels like it's becoming the norm actually. The only thing is whether people are that into these messaging apps enough so much that they would use whatever currency is issued to them by the said platforms.

Can I make a small prediction here? ---> The large social media platforms will eventually partner with Banks or be bought by a consortium of Banks, if they are successful with this. https://www.businesswire.com/news/home/20171017006772/en/Chase-acquiring-WePay-fully-integrate-payments-software

The Banks are lazy and they would rather buy out the companies or partner with them, than spending millions on developing their own Blockchain solutions. Yes, there are exceptions like the R3 Group, but most Banks would opt to buy or partner with a solution that are already developed and functioning. 

It's possible. Social media sites would be the advertisers while the banks would be the producers/financers to ensure that everything will go smoothly. They will make a good team to be honest! 

[Kemarit]

Can I make a small prediction here? ---> The large social media platforms will eventually partner with Banks or be bought by a consortium of Banks, if they are successful with this. https://www.businesswire.com/news/home/20171017006772/en/Chase-acquiring-WePay-fully-integrate-payments-software

The Banks are lazy and they would rather buy out the companies or partner with them, than spending millions on developing their own Blockchain solutions. Yes, there are exceptions like the R3 Group, but most Banks would opt to buy or partner with a solution that are already developed and functioning.  

No need to make predictions @Kakmakr because I have seen Wepay sudden growth specially here in our country and I was surprised by it, every major store here are now accepting it whether in-app web-based, or native in-app payment system. The only logical reason I can think of its that Chinese are very much familiar with it and we have been sort of like a 'Chinese hotbed tourism' for the last two years now.

But major banks is still predominant, I wouldn't call them lazy but since they can hold 'hostage' any individual and make tons of money out of them. They don't look for innovations (except for some) and would rather continue on their business model of killing other parties by just buying them.

[sana54210]

It's like becoming the trend right even before Facebook's Libra was unveiled. Well any businesses that has the weight to do hardcore advertising are diving into blockchain businesses and cryptocurrencies, and it feels like it's becoming the norm actually. The only thing is whether people are that into these messaging apps enough so much that they would use whatever currency is issued to them by the said platforms.

This is why many people see huge success for Facebook on their Libra coin, because they already have heavy user database filled with learned people, at least 10 to 20 percent of Facebook users understand why cryptocurrency is and the use for their coin, many of these users has been dealing with Facebook in one way or the other, especially business wise because they use their social media platform for advertisement.

ForFacebook, I believe people will reallyuse their coin once it is being introduced, because it will have a use case. These other platforms, I still do not see the need for them to actually create their own cryptocurrency when they would have as well partnered with bitcoin, Ethereum or any other reliable cryptocurrency in the market .

[Lawrenzoo]

Can I make a small prediction here? ---> The large social media platforms will eventually partner with Banks or be bought by a consortium of Banks, if they are successful with this. https://www.businesswire.com/news/home/20171017006772/en/Chase-acquiring-WePay-fully-integrate-payments-software

The Banks are lazy and they would rather buy out the companies or partner with them, than spending millions on developing their own Blockchain solutions. Yes, there are exceptions like the R3 Group, but most Banks would opt to buy or partner with a solution that are already developed and functioning.  

The only social media platform that I foresee banks partnering with right now is that of Facebook platform through the introduction of their Libra coin, the technology or would I call it concept of Libra coin seem to favor the banks more, and this is why government might be backing it fully.

Now that we are in the era of blockchain technology, I think they will prefer to partner with a technology that is a little bit decentralized, but yet without anonymity as Facebook claims, all other social media platform using blockchain technology will simply follow behind Libra coin, and like you said, rather than creating a new solution, they will rather partner with Facebook because it will be impossible to buy the system over.

Facebook will not get that chance because the government is not with it

[jossiel]

I doubt it that wechat will go integrate with blockchain technology, they have a well system on China and their wechat pay has been used by most of the Chinese people.

We chat is owned by tencent so at least if tencent will announce blockchain integration and business, then we can at least assume that they're going with blockchain as part of their business and system for wechat. But as long as they haven't announced it, expect nothing.

[SquallLeonhart]

Facebook will not get that chance because the government is not with it

I too do not know the motive behind Facebook establishing this coin, because if they are not with government on it, they will end up frustrating its action, and it may never see the light of the day, and now that they are also planning on creating centralized system that they can even control, unlike the decentralized coins like bitcoin which they cannot control that has been making it difficult to see its doom.

Instead of banks partnering with Facebook coin, it is either they create their own coin, or partner with ripple who more like a banker’s coin already because it was establish by banker for banks I think, so ripple is there, and Facebook won’t get the partnership deeds with them at all. I think 2020 is just by the corner here which will out an end to our speculations on Facebook, and then we will see reality.

[Upgrade00]

Asia in my opinion has few of the most cryptocurrency friendly Nations, which support the integration of the blockchain technology and growth of upstarts.
Some other countries on the continent are currently very averse to the idea of cryptocurrency.

But, worldwide industries are already isolating cryptocurrency from the blockchain technology and using it in different forms other than method of transferring funds.

[Harlot]

Asia in my opinion has few of the most cryptocurrency friendly Nations, which support the integration of the blockchain technology and growth of upstarts.
Some other countries on the continent are currently very averse to the idea of cryptocurrency.

But, worldwide industries are already isolating cryptocurrency from the blockchain technology and using it in different forms other than method of transferring funds.

They are really more open towards it compared to western countries out there. The way I see it is that Asian countries are more active in blockchain technology related to cryptocurrencies as they have a crypto-friendly law within their country, unlike western countries lik US where you'll see that blockchain tech is getting patented but cryptocurrencies are  getting left behind because of their laws. That is why you will see that their development is on a faster pace.