At May 28th, Kakao Mobility revealed MOU signing with Terra. The Uber-like subsidiary of Kakao Corp requires Terra to build a blockchain protection for the customers’ data. This is a part of Kakao’s previous investment to the blockchain fintech startup.
Together, the two companies are going to create a better design for blockchain-based business model also. This partnership will not only be in Korea, but also in the international market as well.
Terra has long been having a close relationship with Kakao. It previously received investment from two Kakao ventures, Kakao Ventures and Kakao Investments. Kakao’s blockchain platform, GroundX also has a sturdy partnership with Terra.
So where will Terra be in Kakao Mobility?
Most likely, Terra Coins will be available as one of the payment methods in Kako Taxi. Terra’s technology can also be used to share road situation and traffic information. It is also possible to use blockchain technology to develop autonomous navigation system such in BMW.
But both the companies have yet to give details on this collaboration. They only stated that the blockchain technology has an important role for the future era of mobility. And they will collaborate on ways to enhance user convenience in Kakao T platform.
Kakao Mobility, under Kakao Corp. provides taxi, agency driving, parking and navigation services. It currently has around 22 million active users and around 230,000 taxi drivers on its’ platform.
Klaytn, a global future for blockchain
Meanwhile, Terra’s previous partnership with Kakao’s GroundX is set to launch in June. Terra’s role is to help Klaytn consolidates its position as a blockchain platform for large-scale services.
Klatyn is Kakao’s global public project. Klaytn provides an enterprise-grade and service-centric platform that has user-friendly blockchain experience. It has both public and private blockchains under a more efficient ‘hybrid’ design.
The project has gained participation from many reputable brands around the world. They are working together to create a reliable business platform atop a strong system built of decentralized trust.