• Thu, 12 Dec 2019, 03:11 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Kakao Mobility signs MOU with Terra to build blockchain-based mobility business model

Tue, 28 May 2019, 11:38 am UTC

Kakao Mobility, a subsidiary of South Korean internet giant Kakao, has signed a Memorandum of Understanding (MOU) with stablecoin project Terra, TokenPost Korea reported.

Under the MOU, the companies will work closely to build a blockchain-based mobility business model.

Founded in 2017, Kakao Mobility provides online taxi-hailing and parking services. Its brands include Kakao Taxi, Kakao Driver, and Kakao Navi. It also provides its services through a mobile application.

Per the report, Kakao Mobility and Terra have agreed for long-term cooperation to jointly research ways to enhance the competitiveness of Kakao T, a Korean transportation service app launched by Kakao Mobility. They will also collaborate to build a business model and database based on blockchain technology.

The companies will work together to explore business opportunities resulting from the integration of blockchain technology into mobility services in both domestic and overseas markets.

"We are delighted to be working with Kakao Mobility, which has led mobility innovation, to collaborate on the development of a blockchain-based business model," Terra co-founder Daniel Shin said. "We will continue to cooperate in various ways so that we can utilize [Terra's innovative blockchain technology] for advanced service."

Terra is a “price-stable cryptocurrency aimed at mass adoption. The project is backed by a roster of prominent investors including Binance Labs, OKEx, Huobi Capital, Dunamu & Partners, Arrington XRP Capital, as well as Kakao Ventures and Kakao Investment, among others.

In November 2018, Kakao partnered with Terra to apply Klaytn, a blockchain platform developed by its subsidiary Ground X, to Terra's blockchain-based payment system.

[The article has been written using online translation of the source article.]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $7,208.16 (-0.97%)
  • Ethereum (ETH) $143.05 (-2.28%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $206.84 (-0.67%)
  • Litecoin (LTC) $43.83 (-1.52%)
  • Bitcoin (BTC) $7,208.16 (-0.97%)
Dec 11, 2019 (Wednesday)
12:54
Wu Jihan once again takes over the helm at Bitmain as CEO
12:36
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:35
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:52
China securities watchdog appoints former head of PBoC Digital Currency Institute: Report
11:07
Crypto Technicals: ETH/USD consolidates below 5-DMA, scope for further weakness
10:52
Nike secures patent for blockchain-enabled “CryptoKicks”
09:44
BitPay rolls out stablecoin payments for merchants and consumers
08:52
Ripple improves Xpring platform to boost growth of XRP developer community
07:42
Crypto Technicals: BTG/USD extends weakness below 5-DMA, momentum strongly bearish
07:19
Blockchain technology poses money laundering, terrorist financing risks, says annual FINMA report
07:15
JPMorgan’s blockchain-based Interbank Information Network attracts interest from over 80 Japanese financial firms
06:57
Fiat Chrysler Automobiles joins IBM responsible mineral sourcing blockchain
06:30
Crypto Technicals: XRP/USD resumes weakness after rejection at 21-EMA, eyes trendline support at 0.1980
06:01
FinCEN sees spike in crypto-related suspicious activity reports after May advisory
05:14
Bank of Lithuania publishes paper on CBDC to nurture discussions around the new innovation
04:59
WeBank becomes technical infrastructure provider for China’s Blockchain Service Network
04:58
Crypto Technicals: BTC/USD slips below 61.8% Fib, more weakness on charts
04:03
Saga stablecoin launches on Liquid platform; Will slowly gain independence once client trust is established
03:09
Swiss crypto-financial firm acquires approval from Swedish regulators to offer ETPs across EU
Dec 10, 2019 (Tuesday)
12:09
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft