Sabrina Tachdjian, head of investments at LINE’s Unblock Ventures, attended the Hong Kong Blockchain Summit 2018 today. To support the LINK token economy, LINE’s decentralized applications (dApps) platform LINK Chain will evolve from private to public. “Our blockchain will not remain a private chain, we plan to open the platform to third-party dApps starting from the second quarter of next year.”
The cryptocurrency market conditions are fast changing and 2018 was a roller-coaster year. Tachdjian said that this year’s cryptocurrency and the blockchain industry as a whole have encountered different challenges in terms of fundraising, technology, utility, regulations, and adoption. She believes that the speculative bubble has exploded, and that focus will be on building tangible products and services going forward. The industry will improve in the above five aspects. For example, regulatory frameworks are emerging globally and are expected to be a key enabler for the industry.
Mass adoption has always been the goal of the blockchain industry. Tachdjian believes that blockchain adoption will be “mobile-first” as internet traffic is increasingly mobile, and cited HTC’s blockchain handset launched earlier this year. She added that fast-growing economies in the Asia Pacific region would be a key geography for adoption, and predicted that financial technology and payment-related blockchain applications will be the first killer-use cases. Tachdjian expects mass adoption will take place via apps that users are already familiar with, such as messaging platforms.
LINE has recently entered the blockchain industry. Tachdjian pointed out that LINK will be the single cryptocurrency of LINE’s growing dApp ecosystem in order to provide critical mass to the platform’s token economy. The LINK chain protocol which currently supports LINE dApps – and in the near future third-party dApps – consists of a blockchain core network, an API layer, and protocol layer for the LINK token.
Tachdjian continued, the LINK ecosystem will grow in three stages as the blockchain goes from private to public. LINE will first focus on building a strong user base through its own dApps; then, expand the use of the LINK token to the larger ecosystem of LINE; and it is expected to open the LINK platform to third-party dApps in the second quarter of 2019.