Huobi announced that it is participating in the Governance Council of Klaytn, the leading blockchain project led by Internet giant Kakao of South Korea. In joining, Huobi will partake in Klaytn’s blockchain operations to further developments in bringing the mass adoption of blockchain to global audiences.
The participating Council members jointly run the Klaytn network under a public governance, which contributes to bring accessible blockchain services to millions of users worldwide. In doing so, the Council members function as key decision-makers for Klaytn’s business and technical developments. Of note, the Council takes ownership of the consensus node network operation dedicated to advancing blockchain utility. Additionally, the members work towards developing and implementing the technology of Klaytn-based applications for their core existing services. In addition to Huobi, the Klaytn Governance Council consists of 27 enterprises including LG Electronics, Union Bank of the Philippines, Celltrion, and Yeahmobi.
“We are pleased to have a world-renown exchange Huobi as an addition to our Governance Council,” said Sangmin Seo, the Head of Platform Group at Ground X. He added, “We work with leading companies from various industry domains, and together, we will operate a stable and reliable blockchain platform that can serve as a foundation for many blockchain services to flourish.”
“Klaytn shares a mutual vision with Huobi in strengthening blockchain security and to bring applicable use cases,” said Ciara Sun, Vice President of Global Business at Huobi Group. “We are excited to join the Klaytn Governance Council and to work with other key partners like Unibank and LG Electronics to enable traditional companies to utilize the global blockchain ecosystem.”
Huobi is dedicated to developing an industrywide blockchain-powered ecosystem. To this effect, Huobi has partnered with promising blockchain projects such as Klaytn, which has a large and globally diverse user base. Klaytn has 47 service partners in various industry domains, of which over a dozen partners have already launched blockchain services with more to come. Many of these projects could be in mainland China, a market that Huobi’s blockchain ecosystem dominates and can use as an international launching pad for Korean blockchain projects.