Klaytn, the leading blockchain project led by the South Korean Internet giant Kakao, announced today that the cryptocurrency exchange company Huobi is joining the Klaytn Governance Council.
Developed by Kakao’s blockchain unit, Ground X, Klaytn is a public blockchain platform whose mainnet launched in June last year. Klaytn partners with major firms and businesses as part of its Governance Council program to together run its distributed network under shared governance.
Established in 2013, Huobi operates cryptocurrency trading and investment platforms plus blockchain services for users across the globe. Meanwhile, the multi-chain Huobi Wallet, supports Klaytn’s token, KLAY, and other Klaytn-compatible tokens.
“The new partnership advances Huobi’s mission to make blockchain technology more accessible to users across the globe. We are looking forward to working closely with other Council members to accelerate the growth of the whole blockchain ecosystem.”
– Ciara Sun, the Vice President of Global Business at Huobi Group
Undertaking the Klaytn platform ownership, the Council members function as key decision-makers for Klaytn’s business and technical agenda, including the consensus node network operation.
Additionally, they work towards developing Klaytn-based applications and implementing its technology to their existing services. With Huobi onboard, the Klaytn Governance Council currently has 28 enterprises including LG Electronics, Union Bank of the Philippines, and Celltrion.
“We believe that the contributors who run the platform with their interests aligned with the platform’s long-term development plans are the most qualified to undertake the Klaytn governance. We are excited for Huobi to work with other Council members to jointly run and govern the Klaytn platform, as well as create use cases that can foster the development of the global blockchain ecosystem.”
– Sangmin Seo, the Head of Platform Group at Ground X