Press Release: Blockchain Platform Orbs Marks Strategic Expansion Into South KoreaAugust 31, 2018
Orbs, the hybrid blockchain scaling base-layer protocols, has announced a major expansion into the global blockchain hub of South Korea. The company has partnered with Ground X, the blockchain subsidiary of leading South Korean internet company Kakao, for research, development, and business cooperation. It has also opened its Seoul headquarters, with five full-time employees hired to drive further business development in the region.
Orbs partners with Kakao subsidiary Ground X to spearhead blockchain research initiatives, opens Seoul office
Tel Aviv, Israel — 29 August 2018 — Orbs, the hybrid blockchain scaling base-layer protocols, has announced that it has established a partnership with Ground X, the blockchain subsidiary of leading South Korean internet company Kakao, for research, development, and business cooperation. Orbs has also opened its Seoul headquarters, with five full-time employees hired to drive further business development in the region. Orbs’ expansion into South Korea, a leading global blockchain hub, demonstrates a commitment to tapping into the country’s significant blockchain talent to spearhead technical innovation in the space worldwide.
Orbs will collaborate with Ground X to conduct research and development on shared blockchain components, such as a crypto library, mutual security audits, and autonomous swaps, an advancement that would facilitate decentralized interoperability of cryptocurrency assets. Additionally, the two teams will compose joint research papers and conduct peer review on code vital to the core development initiatives of both blockchain infrastructures. Orbs and Ground X will also support one another’s business development. This work will be complemented by the opening of Orbs’ Seoul headquarters this month. The new location has hired five full-time employees to manage marketing and community relations efforts, in addition to strategic partnerships and business development work.
Orbs Co-founder Uriel Peled said: “It’s no coincidence that Orbs decided to open its first office outside of Israel. With leading conglomerates such as Kako entering the space, South Korea is currently leading the pack when it comes to innovation and development in the blockchain space and has the potential to become the ‘blockchain nation.’ Partnering with Ground X on innovative blockchain development will facilitate the continued evolution of both of our platforms, and enable those at the forefront of dApp development to experience unrivalled security, liquidity and scalability. In addition, by opening our office in Seoul, we are cementing our presence in a region that we view as fundamental to blockchain’s future.”
Ground X, a subsidiary of South Korean internet conglomerate Kakao, is a blockchain business development unit focused on developing a reliable and scalable platform to meet the constantly-evolving needs of major players in the space. The company is in the process of recruiting partners to establish a collaborative environment in which blockchain solutions can be tested and appraised, with the goal of making them as user-friendly as possible prior to extending their use to wider industry.
Ground X CEO Jason Han said: “Ground X’s partnership with an industry leader of the technical sophistication of Orbs represents a significant step forward for the blockchain space both within South Korea’s borders and globally. Through our long-term collaboration, we look forward to building a collaborative network that will advance our mission of leveraging blockchain technology to drive private and public sector innovation within Asia and elsewhere. Ground X is also proud to have Orbs as our local partners in Israel to further establish and solidify our presence in another global technology hub.”
Han added: “This MOU with Orbs is a part of Ground X’s plan to form the Blockchain Tech Alliance. Ground X is planning to collaborate with other outstanding local and global blockchain tech companies and institutions to develop a high-end blockchain platform and to create a sound blockchain ecosystem. We will not only be covering technologies of blockchain platforms, but also building a collaborative network covering diverse areas including security and DApp technologies.”
Orbs is a hybrid blockchain that complements and scales base-layer protocols. With built-in interoperability features, Orbs serves as a middleware solution for decentralized applications (dApps) with millions of users looking for a sustainable stacking solution. Its architecture strategy allows dApps to enjoy the best of two chains: unmatched security, liquidity, and ecosystem integration, together a production-ready scalability standard with suitable fee structures.
About Ground X
A subsidiary of Kakao, Ground X is a blockchain technology and service firm that aims to contribute to creating sound global and local blockchain ecosystem and to driving global growth engines in this industry. It currently focuses on developing a public blockchain platform, which will represent Asia, and blockchain-based services with distinctive, outstanding technology and exceptional people. As a part of its effort to build the blockchain ecosystem, it plans to proceed diverse activities including public sector innovation projects, social impact businesses, facilitating developers’ communities and launching conferences.