ConsenSys to develop private version of Kakao’s Klaytn blockchain

software company ConsenSys has formed a technical partnership with Kakao’s Klaytn blockchain, with a view to developing a private platform for the issuance of a South Korean CBDC.

Klaytn is a public blockchain developed by Ground X, a blockchain affiliate of the South Korean internet company Kakao. Best known for its Kakao Talk mobile messaging app, Kakao has since branched out into the shopping and travel industries, among others. In 2019 the company commenced work on the Klaytn blockchain, which by the time of publication has the 25th largest market cap in the cryptocurrency space.