February 16, 2019

Upbit operator Dunamu to roll out Amazon's AWS-like platform

PUBLISHED : June 08, 2018 - 15:40

UPDATED : June 08, 2018 - 16:36

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[THE INVESTOR] Dunamu, a Kakao affiliate which runs local cryptocurrency exchange Upbit, vowed to make blockchain mainstream through its new platform, the Dunamu Blockchain Service.

The initiative will be carried out by Dunamu’s new blockchain research institute Lambda 256, which was established in May. 

Dunamu Blockchain Service, or DBS, is dedicated to helping firms develop their own blockchain-related applications on top of the network, similar to Amazon’s AWS. 

“We are planning to launch the beta version of DBS in the fourth quarter this year, hoping to launch the main service by the first quarter of next year,” said Park Jae-hyun, head of Lambda 256, at a media event on June 7. Prior to the official release, Lambda 256 is planning to provide support programs for developers to utilize its upcoming platform. 

Park Jae-hyun, head of Lambda 256

The inaugural head of the research institute formerly served as vice president of SK Telecom. Previously, he worked at Samsung Electronics where he developed mobile payments service Samsung Pay and instant messaging app Samsung ChatON. 

On the back of the successful DBS launch, Park hopes Dunamu will spearhead the transformation of the current Blockchain as a Service 1.0, to high performance BaaS 2.0. “In the era of BaaS 2.0, people and companies, even with little blockchain expertise, can easily transform their existing web-based service into blockchain-based services,” he said. “This will help firms to create coins with various usage, including product-related tokens, royalty tokens, security tokens and district tokens.”

“Lambda 256’s goal is to spearhead the widespread adoption of blockchain technology and create an ecosystem,” he said, adding the firm will continue to partner and invest in blockchain-based startups.

DBS will be open-source as well, for developers to build, distribute and utilize the service, he emphasized. 

As for the controversial initial coin offering -- raising funds through issuing a new cryptocurrency -- Dunamu is not considering it at the moment, as the firm is strictly abiding by the Korean government’s ban on ICOs. “Also, we don’t need extra funds at the moment,” he said.

By Ahn Sung-mi (

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