Klaytn, the public blockchain platform developed by Ground X, a subsidiary of South Korea’s leading Internet company Kakao, joined the Alliance for Prosperity in Zeal on May 8.
Celo, a distributed logbook, or DLT, technology based on a decentralized application and stable currency platform and a major rival to Facebook’s Libra project, has now attracted nearly 80 companies to its alliance, with Celo announcing more than 20 new members earlier this week.
The Klaytn blockchain is ahead of the Libra Facebook network, says Kakao’s CEO
Major Korean blockchain platform joins the Zealous alliance
According to a press release, Klaytn will investigate the interoperability between the Klaytn and Celo platforms and integrate support for its KLAY token into the Celo ecosystem.
Chuck Kimble, head of the Alliance for Prosperity’s Celo, emphasized that Klaytn will understand the first external block chain that will interoperable with Celo.
„By building a bridge between Klaytn and Celo, Klaytn will expand its own ecosystem and make it easier for people in Korea and throughout Asia to send and save with Celo,“ Kimble said.
Celo welcomes more than 20 new allied members
Sangmin Seo, Ground X’s platform group leader, said the alliance „shares a mutual vision with Klaytn to make digital assets more accessible and useful in our daily lives.
Zeal gains momentum as Libra faces regulatory challenges
While Libra has been hampered by regulatory concerns, the increased decentralization of Celo has allowed the project to move forward significantly since the launch of the partnership of
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just a couple of months ago.
Celo co-founder Sep Kamvar told Cointelegraph that decentralized technologies provide „an opportunity for new stories to emerge.
Bison Trails announces support for Celo platform
While recognizing that „there is some competition“ among the major players in the burgeoning decentralized economy, he emphasized the opportunity for the DLT sector to stand out in the midst of the current global recession:
„This is our potential right now as a field, to tell beautiful stories and build technologies that align with the stories. The stories that lead to the greatest prosperity for all will lead to the most beautiful world for all.
Speaking to Cointelegraph, Andy Ji, co-founder of Ontology, a recent addition to the alliance, described both Zeal and Libra as „excellent partnerships“ that have „attracted high quality members so far.
„However, Celo is an open source project run by a non-profit organization,“ Ji said, predicting that „because of its decentralized nature, Celo may not face the same regulatory barriers as Libra.