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LINE Debuts Blockchain Development Platform and BITMAX Wallet

Japan-based social media messaging giant LINE has unveiled a development platform for blockchain services dubbed the LINE Blockchain Developers. In addition to this blockchain DApp, the firm noted that it is also launching a BITMAX wallet for the management of digital assets.

The two innovations were jointly developed by LVC Corporation (“LVC”), operator of LINE’s crypto assets and blockchain businesses, and LINE TECH PLUS PTE. LTD. (“LTP”). The blockchain DApp and the BITMAX wallet details the move by LINE to not only stay within the growing ecosystem of blockchain technology but also to add value in that regard.

The LINE Blockchain Developers is targeted at blockchain coders without the resource or luxury of creating a bottom-up code for new DApps. The announcement reads:

“LINE Blockchain Developers is a development platform that provides an easy and efficient way for developers to build blockchain services based on LINE Blockchain. Blockchain technology can also be readily added to existing services for one-of-a-kind token economies. The developer console itself is a web-based environment offered through LINE’s own developer web portal, LINE Developers. With this platform, companies and developers can focus their attention on improving UX and other facets of their service instead of the technical aspects of blockchain and security.”

Through the LINE Blockchain Developers, companies and specialists, in general, will be able to create their own tokens, ensure transparent transactions in their operations, monetize data as well to develop tokenized in-game digital assets (such as characters, items, and currency).

The firm noting the difficulty people face in managing digital assets with many digital currencies and tokens around today decided to launch its multi-token BITMAX wallet which will serve as a one-stop digital asset manager for its users.

LINE Blockchain amid Other Social Media Blockchain Trials

The blockchain project from LINE is just one of the few blockchain success stories from a social media outfit as similar projects from Facebook Inc (NASDAQ: FB) focused on the development of the Libra Coin as well as Telegram’s TON blockchain project have faced harsh pushbacks from regulators.

As Coinspeaker reported by in April, Facebook’s Libra Association confirmed that it is pulling away from its original vision of a global stablecoin (Libra coin) pegged on a basked of national currencies. The move which was taken to appease global regulators was necessitated after the project received criticisms since the project’s whitepaper was unveiled back in 2019. Despite the consensus made, the Libra project has yet to see an applaudable breakthrough.

Russian originated Telegram has also received an unwelcoming embrace into the blockchain ecosystem. The social media giant’s founder Pavel Durov said the company has decided to close its ambitious TON blockchain project, adding that any project based on TON or using its name will no longer be associated with Telegram. Following this statement, Telegram has had to Pay $18.5M Civil Penalty settlement to the Securities and Exchange Commission (SEC).

The success of LINE’s blockchain projects gives an inclination that the clampdown on social media outfits venturing into the world of blockchain is not a global affair.

LINE Debuts Blockchain Development Platform and BITMAX Wallet