The world’s largest cryptocurrency exchange, Binance, will participate in Klaytn Governance Council. Klaytn is a blockchain platform developed by Kakao’s blockchain technology affiliate GroundX. Its token, KLAY has made its first listing last month.
Governance counseling was unveiled in late June. It consists of 30 global companies representing various industries such as ICT (Information Communication Technology), content, games, and finance.
Joining the member of Klaytn Governance Council are Kakao Corp. affiliations, LG Group affiliationsCelltrion and Netmarble. Bank Union Bank, which represents the Philippines, and Hong Kong fintech firm Hashki are also participating. Recently, local security firm AhnLab and China-based mobile platform company YeahMobi joined the group.
“Ground X and its public blockchain project Klaytn share a mutual vision with Binance in fostering and stimulating sustainable growth in the industry and to bring meaningful use cases. We are excited to join the Klaytn Governance Council and to work with other key partners like LG Electronics and Kakao, who are the most innovative companies, Asia, to foster the growth of the global blockchain ecosystem in this joint and open effort.” — Wei Zhou, CFO of Binance.
Binance and Klaytn future together
Klaytn Governance Council is responsible for key decisions on Klaytn’s technology and business. As well as for the operation of the Klaytn Consensus Node. They are also discussing developing new Klaytn services beyond operating platforms. As well as applying blockchain technology to existing businesses.
Binance is the largest virtual currency exchange in terms of the global trading volume. It is working on building a blockchain ecosystem in multiple ways, including investment, education and donation services as well as the exchange business.
Over this, Han Jae-sun, CEO of GroundX stated:
“We are pleased to see that Binance, which is leading the blockchain industry in all directions, joined the governance council. We are planning to expand the scope of the governing council to companies and institutions from various industry groups such as blockchain and academia, as well as companies in existing industries.“