Ground X also plans to develop a native mobile application for Klip to address the global audience
Ground X, the blockchain affiliate of South Korean Internet giant Kakao and developer of Klaytn, launched a blockchain-based digital asset wallet service called Klip.
Available in KakaoTalk, a mobile messaging application used by more than 90% of the South Korean population, Klip gives users the opportunity to experience digital assets on their mobile devices. Users can sign in to Klip with their existing Kakao accounts.
Klip defines a digital asset as any information or content that has value. Typical examples include gaming items, cyber money, and mileage points. Thanks to the advancement of blockchain technology in recent years, online content and even user internet activity that was previously unable to be quantified and priced can now be assetized.
Klip users can safely store and easily transfer digital assets obtained from Klaytn-based blockchain applications across different verticals such as social networking, gaming, and e-commerce. The Klaytn platform itself is a global public blockchain platform also developed by Ground X. As of today, Klip supports 11 cryptocurrencies, including Klaytn’s own token called KLAY, as well as a multitude of Non-Fungible Tokens (NFTs). The number of Klaytn-based cryptocurrencies and NFTs that will be supported in Klip will increase gradually over time.
Klip is designed to be a wallet for everyone, including those with little to no previous knowledge of blockchain or crypto assets. To achieve this, Klip focuses on optimizing usability, security, and expandability.
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Klip allows users to send and receive digital assets with their basic KakaoTalk account information, rather than complex wallet addresses typical of most blockchain wallets. The digital asset transfer is as fast as an instant wire transfer yet does not incur additional fees.
Klip’s service security is also a key feature of its development. Klip users’ private keys are safely stored in encrypted formats, thanks to the security feature known as Key Management Service. Therefore, users do not need to worry about losing their private keys due to accidents or data breaches. It is also noteworthy that under the current security framework, even Ground X has no access to users’ private keys.
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