LINE (LN), a Japanese messaging, unveiled plans this week for five new decentralized applications (dApps) and a Japan-only altcoin.
In the announcement, Line states that the new dApps will focus on a number of different categories, including product reviews, food and locations and prediction platforms.
The dApps are built on the LINK blockchain, which is designed to interact with LINE’s established messaging platform and had its genesis block mined on August 23. The company plans to support third-party developers to build out the network’s dApp ecosystem.
In addition to the dApps, LINE has revealed that its main coin “LINK” will not be available to the American or Japanese markets. Instead, LINE has launched a separate coin, called “LINK Point,” which will be made exclusive to residents of Japan.
Unlike LINK, LINK Point will not be available for trading on the BITBOX exchange, due to ongoing regulatory issues between LINE and Japan’s financial watchdog, the Financial Services Agency (FSA). Link Points will instead be issued as an incentive on the new LINE dApps and can be converted into “LINE Points” for use in purchasing services across LINE’s various services.
These updates come several weeks after LINE launched a $10 million venture capital fund directed at blockchain startups and also listed TRON (TRX) on BITBOX.
More: Line Token Economy
Related: Japanese Messaging Giant LINE Launches Its Own Cryptocurrency and Blockchain
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.