Not Selling Cryptocurrency nor Having ICO

LINE will exclusively disclose general-purpose cryptocurrency "LINK," developed by Bitbox, a global cryptocurrency exchange, on October 16.

Naver's Japanese subsidiary LINE will disclose general-purpose cryptocurrency "LINK," which has been developed by Bitbox, a global cryptocurrency exchange, on October 16.

LINK will be used for user compensation-based content of distribution-type application (dApp) that will be launched in the fourth quarter of this year and to buy music and webtoons among content, goods and game items. Moreover, people will be able to use LINK at cryptocurrency exchanges and for remittances among users.


LINE announced a schedule for the release of five new dApp services and LINK at a press conference on LINE token economy in Tokyo on September 27.

LINE is currently developing five areas of dApp services –- forecasts, knowledge sharing, product reviews, restaurant reviews and travel reviews. Among them, forecasts, which realize a forecasting service by refining data based on various knowledge and experiences of participants, and "WizBol," a knowledge-sharing platform, are currently in their beta services in Japan.

Restaurant review platform "Tapas," whose launch is set for the fourth quarter of this year, will let users share related information such as restaurants or menu reviews and post food photos when they take photos of their receipts from restaurants in Japan.

"Step," a travel review platform to be launched next year, will give LINK to users as incentives when they create BOOK by putting in location information and disclosing BOOK to others when sharing their memories of leisure activities and places visited by them.

In the meantime, Line Token Economy announced that the company would make it a rule not to sell cryptocurrencies nor have an ICO for financing. "At the moment, it is hard to find content and services related to blockchains that users can actually use," a LINE official said. “LINE will provide services that are highly usable through a LINK ecosystem built through its own blockchain technology and expand a virtuous cycle structure which gives incentives according to contribution."

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