On October Fourth, the Line Group Companies LINE and LVC Corporation announced their alliance with Nomura Holdings. This alliance was made on the basis of collective intent between these companies. This intent is to explore the massive opportunities within the field of blockchain.
At the beginning of this year, the group had already signed a memorandum of understanding between them. Even then, they already showed their intent to develop into this new form of technology.
As per the partnership terms, Nomura had invested in LINE’s subsidiary, LVC.
This is a move that’s been seen around the globe, as an old, practiced financial firm joins up with an up-and-coming tech firm to try and reach the new generation of this growing world. A generation that’s very likely only going to remember physical currency as something from their childhood as blockchains slowly rise into greater prominence
The Players at the Board
Nomura is a heavyweight financial institute. Their company motto is,
“We help to enrich society through our expertise in capital markets.”
The firm is always aiming to be the most trusted partner for their clients as well as their future ones
LINE started out as a messaging platform but is striving to become something far higher than that. They’re pushing a self-contained ideology in their improvements, trying to have their users seamlessly and effortlessly connect with their peers, finances, brands, and companies. Their corporate slogan is “Close the Distance,” something they’ve been trying to achieve dutifully.
LVC, LINE’s subsidiary focusing heavily on blockchain technology. These are the guys driving forward LINE’s concept of the Token Economy. They created the LINE tokens currently in use with the android users and has recently added the BITMAX exchange to their projects. This new exchange will allow users on LINE to trade in the major forms of cryptocurrency.
This isn’t the first time Line and Nomura partnered up to achieve a mutual goal. Back in May of 2018, Nomura Holdings and Line Corp partnered up to provide online securities trading to their respective consumer bases. This was a bid to attract a younger audience to these kinds of financial investments.
Nomura holdings had announced that they would own 49%, while Line, owned by the South Korean Naver Corp, will own that tantalizing 51%. This makes Line the majority shareholder, thus making them the lead decision-makers between these two giants within this new venture.
Rather interestingly, both firms stated that they wouldn’t be financially affected by this venture.
Line and Libra
LINE is neither the biggest nor the first to want to develop its blockchain. Libra, a cryptocurrency in the process of development by the social media giant Facebook, is making waves across Europe as its development continues. Germany and France have both expressed their desire to limit cryptocurrency use within their country, with Switzerland continuing to support it like the 700 other blockchains.
In the end, cryptocurrencies can very likely replace the world’s way of moving funds, and the implication and effects of such a global investment are entirely unknown.
Author: Ali Raza