Japan's LINE network opens crypto wallet and blockchain development platform
The largest social network in Japan, LINE network, announced the launch of BITMAX crypto wallet designed for managing digital assets, alongside a developer platform, LINE Blockchain Developers, that will be offering blockchain services.
According to the announcement, the blockchain developers platform will operate as the means for firms and organizations to easily integrate blockchain technology into their platforms. This platform will also enable companies and developers to improve UX and other facets of their service instead of focusing on the technical aspects of blockchain and security.
BITMAX Wallet will allow users to administer all the digital assets obtained from different blockchain services within the one wallet. Unlike conventional blockchain wallets, BITMAX is linked to LINE IDs, which means that users only need a LINE ID to get started right away. This makes the whole process much easier as users can send and trade digital assets with their LINE friends.
As for now, the BITMAX wallet is only available in Japan, however, the LINE network revealed that the blockchain platform will also start offering its service for other regions shortly.
Since the launch of the LINE Blockchain Lab in April 2018, LINE network has seen massive growth to this day. The main idea behind this project was to form co-creative relationships between users and service providers under the concept of “LINE Token Economy”. The company secured a crypto business license in September 2019 and started off as a trading exchange named Bitbox.
Currently, over 84 million clients are using LINE messaging app. In the near future, the company wishes to enhance the development of its token economies and plans to take up many dApps built on its proprietary blockchain platform.