Binance Joins Klaytn’s Governance Council

Crypto exchange Binance has joined Klaytn’s governance council. Klaytn is a public blockchain network by the subsidiary of South Korean Internet tycoon Kakao, the Ground X. 

Binance is the first blockchain firm to be part of the council, Kakao revealed on October 21, saying that the other 24 members from the council include enterprises like UnionBank of the Philippines and LG Electronics. Klaytn mainnet was released in June.

Members of the council function as major decision-makers for Klaytn network’s business and technical advancements like running nodes, along with working towards creating Klaytn-based applications.

Kakao stated, “more than a dozen” of its 47 accomplices to date, have just introduced blockchain administrations based on Klaytn, and others are anticipated to roll out later this year.

Ground X CEO Jason Han stated the company would further reinforce the governance council by welcoming “leading companies in various industry domains” to be part of the Klaytn framework and boost mainstream adoption of blockchain.