Messaging App Line Is Keen On The Crypto And Blockchain Revolution
Blockchain has been influencing a lot of major companies and a diverse range of industries. Facebook has been working on creating its cryptocurrency and JPMorgan and Wells Fargo both will be piloting their international payments.
This can all thus be termed as the crypto or Blockchain revolution. But this doesn’t mean that this revolution is just limited to the western media. There are other companies outside of the western media as well that are trying their best to lead this rapid Blockchain growth and influence.
One such company is this leading Japanese messaging app that goes by the name LINE. It has publicly traded companies for launching a proprietary blockchain mainnet with their cryptocurrency. They have even made sure to open doors on its exchange BITMAX.
The BITMAX decision was a crucial one to the app having around 81 million users as it helped them gain the backing of the Japanese Financial Services Agency. The agency is monitoring the exchanges in the country after the hacking incidents of Mt. Gox and Coincheck.
The road ahead
For the app to be in a better position, Brian Lee – Manager of Global Corporate Affairs, LVC Corporation said that both blockchain and cryptocurrency require abundant time and financial investment.
“Regarding fintech, including cryptocurrency, we recognize that a substantial investment over several years is necessary,” Lee told The Daily Chain. “We need to be fast to be a leader within this field, with the key investment the key to innovation and success. Once we are established, we anticipate that fintech services like cryptocurrency will provide stable revenues for a long time to come.”
He also mentioned that Blockchain has always been considered to be disruptive, it even provides users with better transparency for smooth exchanges.
Innovation is possible because of implementing and applying these new-age technologies in the fintech area. For instance, Blockchain is a great way of analyzing user behavior. This is helpful for the app as it can improve the credit service by making developments in the LINE Score offering.
“It will take several years for banks, securities, and other conventional financial services to work together with blockchain, which is why right now we are focusing on the blockchain business and other financial services”, Lee added.
A crossover between Blockchain and the financial services is a possibility is what he thinks as further advancements will be made in the technology.
LINE will make use of Blockchain and cryptocurrency in the future, as well, as Lee thinks that the path that Blockchain is taking is interesting to be a part of. He wants to make sure that LINE can be a part of the Blockchain growth.