South Korean tech giant Naver has made a bold move into the crypto market with the launch of its beta of its web3 Naver Pay Wallet. The wallet, developed in partnership with the sports-focused blockchain Chiliz, aims to become a formidable competitor to established digital payment giants like Google and Apple Pay.
Naver, known for its dominant search engine and other popular online services, is leveraging its extensive user base of over 33 million to make the debut of its first-ever comprehensive crypto wallet.
The company's strategic partnership with Chiliz, a blockchain specializing in fan tokens, positions Naver Pay Wallet as a versatile platform for both cryptocurrency transactions and engagement with digital assets.
Unlike traditional crypto wallets, Naver Pay Wallet focuses on providing utility and loyalty-based blockchain technology. The wallet is currently in beta testing and operates on a non-custodial basis, meaning users maintain complete control over their private keys. This allows for the secure storage of both cryptocurrencies and non-fungible tokens. This approach aligns with Naver's broader goal of creating a seamless digital ecosystem that caters to the needs of its users. By integrating with decentralized applications (DApps), fan tokens, and a merchant loyalty program, Naver aims to offer a more comprehensive and engaging experience compared to existing payment solutions.
Naver's crypto wallet comes a day after messaging app Line also dipped its hand into crypto. Line is set to get so-called "mini DApps" - blockchain-based applications that work within the messaging app - after the Kaia blockchain launched its mainnet on August 29. Following this logic, could we also expect a similar feature in the Naver payment system in the near future.
The launch of Naver Pay Wallet comes at a time when cryptocurrencies and blockchain technology are gaining mainstream attention. Naver's entry into this market signals its confidence in the potential of digital assets to revolutionize the way we transact and interact online. With its strong brand recognition and extensive user base, Naver Pay Wallet has the potential to disrupt the digital payment landscape and challenge the dominance of established players like Google and Apple Pay.
Melania Trump has entered the meme coin market with her own token, following President-elect Donald Trump’s crypto venture. TRUMP’s price briefly dipped before recovering, sparking speculation and insider trading allegations. Critics question the legitimacy of Trump’s crypto efforts and their broader impact.
CatherineTikTok will resume operations in the US after the President-elect pledged to restore access, proposing a 50% stake in the platform—despite previously attempting to ban it. The news has sparked widespread celebration on social media.
KikyoA South Korean man, Lee, was sentenced to four years in prison for leaking military secrets to North Korean hackers in exchange for 14 Bitcoins, worth around $480,000. This breach, involving the recruitment of a military officer to provide classified documents, raised serious national security concerns.
AnaisThe Ethereum Foundation is undergoing a leadership transition, with Vitalik Buterin outlining its key priorities and reaffirming its commitment to ethical principles while clarifying values it will not adopt.
CatherineRakuten's move into the mobile market has caused financial strain, but CEO Mikitani sees it as essential for the company's future growth, especially with AI integration. Despite losses, Rakuten is expanding its mobile network and focusing on AI-driven services to boost its e-commerce and other sectors.
WeatherlySouth Korea's film industry is embracing AI technology to restore and create films, with "Leafie, a Hen into the Wild" being remastered into 4K using AI tools. Additionally, AI-generated films like "It’s Me, Mun-hee" and "M Hotel" are pushing the boundaries of digital filmmaking, though the technology raises debates about the realism of AI characters.
WeatherlyBitcoin has hit a new all-time high of $109,000, driven by optimism ahead of President-elect Trump’s 20 January inauguration. As speculation grows over potential crypto-friendly policies, the question remains—can Bitcoin sustain its momentum and climb even higher?
KikyoPublic Investment Bank Bhd predicts that President-elect Trump’s administration is unlikely to fully reverse Biden’s AI chip export restrictions and computing capacity limits. As Biden’s term ends, could these measures be a strategic parting move with lasting implications for the tech landscape?
CatherineVitalik Buterin’s update to his profile picture, using an image from the Milady Maker collection, triggered a significant increase in the collection's floor price and trading volume. The NFT's market capitalisation rose to $21 million, with notable gains for the related CULT token and other Remilia collections.
AnaisIndonesia is considering a law to restrict social media access for children to protect them from online dangers, though concerns about privacy and data security have arisen. Many parents support the measure, but advocates call for a balance between child protection and digital rights.
Weatherly