Telegram Failed, but Messaging Giant LINE Launched Its Own Blockchain Platform and Tokens

Japanese messenger LINE has officially announced the launch of the BITMAX Wallet for digital asset management and the LINE Blockchain Development platform.

On the platform, third-party developers will be able to issue their own tokens, tokenize digital assets, and run decentralized applications. As conceived by LINE, the new platform should enable companies to implement blockchain technologies easily.

LINE started developing its blockchain platform in 2018. At the same time, the LINK token (LN) was issued for trading against several major crypto assets such as bitcoin and ether in 2018.

Also, the LINE Blockchain Lab was established in 2018, which has been tasked to build the LINE Token Economy.

Then the messenger received a license to operate with cryptocurrencies in Japan in September last year, and LINE started offering trading services via its crypto exchange Bitbox.

Now, LINE is used by more than 84 million people, mainly from Japan, and the company intends to use the messenger's existing audience to give impetus to the development of blockchain in the country and accelerate the implementation of distributed applications on its platform.

LINE is one of the messaging apps that could develop blockchain technology and issue their tokens. In contrast, Canadian messaging company Kik and Russia-originated Telegram failed when faced lawsuits from SEC. It seems that developing blockchain is easier in Japan than in the USA.

Pavel Durov closed the TON blockchain platform previously, which could become a competitor to LINE Blockchain Developers.