On Dec 15, 2017, the team behind ICON, theloop, has joined a partnership with ChainToB, a business services platform that aims to link blockchain core technology and business services. theloop and ChainToB will combine its resources to further develop the Loopchain engine that powers the ICON Network. theloop and ChainToB will also collaborate on developing a blockchain-based document management platform.
theloop is responsible for developing the core blockchain engine Loopchain that powers the ICON Network. theloop has an exclusive partnership with the Korea Financial Investment Association (KOFIA) and has developed the world’s first blockchain-powered identification certificate called CHAIN ID.
ChainToB is a Korean blockchain startup that provides blockchain solutions to Electronics and Telecommunications Research Institute and Pusan National University Research Park. ChainToB is also developing a new blockchain-based social networking service in Japan that will be launched early next year.
JH Kim, ICON Foundation Council Member, and CEO of theloop, fully supports the partnership, “We look forward to building a partnership with ChainToB to expand the Loopchain ecosystem. Through this partnership, we will become a worldwide leader in blockchain technology”.
Hawon Chung, CEO of ChainToB, also supports the partnership, “Blockchain is going to become a new revolutionary platform similar to the advent of the Internet in the 1990s. Although there are various blockchain companies in Korea, there is no company even close to the development level that theloop has accomplished. In order for Korea to become a leader in the blockchain industry, stable technological support and talent acquisition is mandatory. ChainToB established a partnership with theloop in order to ensure that Korea becomes a blockchain powerhouse.”
theloop recently drew attention related to the ICON project, which runs on the loopchain blockchain engine. ICON aims to hyperconnect the world by creating an interconnected blockchain network that links every blockchain in existence. ICON’s token sale in October successfully raised $42 million (150,000 ETH) within 6 hours.