For ICON (ICX) it’s big challenge to explain how big deals relating the altcoin may shape its future. The recent news is also about the same, about the explanation. ICON starts a joint venture under the name “Unchain” with LINE (in short, just a LINE). But if ICON is known to those interested in cryptocurrencies market, the LINE PLUS is “the thing itself”, what is the LINE and why it could be important for the altcoin’s future?
Actually the LINE platform is something like Whatsapp, Facebook and Twitter combined. Their SNS application is widely used as communication tool to chat with people in East and especially Southeast Asia region. This application proliferates in Taiwan and Thailand. So there is very important that such popular application starts partnership with ICON. Moreover, this application is on constant development and now offers services for to seek job. Total amount of users that logs in SNS reaches 217 million people. But at the same time one can see the big segregation with huge competition at market: in Taiwan there are many who likes LINE for chatting whilr KakaoTalk is more popular in South Korea, for example. People in China likes Whatsapp and Wechat. One can only guess what happens if some sort of interoperability platform to totally connect all of these disparate networks arises and crypto platform Signal is likely to be one of such options.
LINE is going to develop blockchain and will see joining efforts from ICON expertise and seek synergy from this partnership. H.K. Lee, technical director at ICON, has been appointed as CEO of “Unchain”. “Unchain” may unlock for ICON whole Southeast Asia/East Asia market except for China. So ICON makes deliberate steps to building a network of real world adoption. It will take time, but with this pace in two years they might do their hyperconnect stint in East Asia pretty well. It’s important that LINE has actually abandoned any plans for to set up its own token since it’s going to rely upon ICX. ICON proves that it has meaningful partnerships with clear real world use-cases.
The market has positively reacted to the “Unchain” initiative and ICON has rocketed up to the $4,27 (+8,26% for last 24-hour).