Bitkub Blockchain Technology Co., Ltd., the developer of Bitkub Chain, announces a major transition plan, revamping its image to become a world public blockchain, with the goal of developing KUB Chain into a decentralized public blockchain. The announcement was made at the 'Bitkub Chain the New Era' event, with key partners such as Huawei Thailand Cloud Business, MetaverseXR, and AppMan lending their support.
The transition to KUB is being led by Passakorn Pannok, Chief Executive Officer of Bitkub Blockchain Technology Co., Ltd., with the unveiling of a new name and logo, changing from "Bitkub Chain" to "KUB". This move reveals the vision and mission to become a leading blockchain network that democratizes opportunities and increases economic value equitably. Key plans include initiating communication, consultation, and education for stakeholders, such as relevant regulatory agencies, to explore the possibility of transitioning to the KUB Foundation or another suitable form, such as the KUB Association, a non-profit organization, to manage the KUB Chain in alignment with the vision and mission. The development direction will focus on promoting community growth and technological advancement, aiming to establish KUB Chain as a globally recognized blockchain. Bitkub Blockchain Technology has undergone restructuring, and the KUB Chain structure has been clarified in terms of operational guidelines for both organizations, which have different visions and objectives, as well as separate management and teams. KUB Chain plans to allocate funding through KUB Grants to support the development of dApps on the network. Additionally, there are goals to upgrade the KUB Mainnet's capacity to support up to 500,000 transactions per second by 2027 and increase the Total Value Locked on the network to 300 million US dollars. Plans also include connecting with the Polygon and Solana networks to expand the KUB Chain ecosystem.
Regarding Bitkub Blockchain Technology Co., Ltd., under the vision of Niorn Kiatdamrong, Chief Commercial Officer, the plan focuses on being a comprehensive blockchain technology service provider. Bitkub Blockchain Technology will play a key role as a Blockchain Consultant and System Integrator, providing various blockchain solutions, Blockchain as a Service, and Smart Contract auditing.
Bitkub Chain the New Era event also included a progress report on NFISpace, a secondary NFT marketplace from Hong Kong, and concluded with a panel discussion by blockchain infrastructure leaders such as JFIN, SIX, and KUB. The panel included Thanawin Ratametha, Deputy Chief Executive Officer from J Ventures Co., Ltd., Watchara Aemwat, Co-CEO from SIX Network, and Samret Wajanasathian, President of KUB. The three panelists shared their visions and discussed perspectives on the future of the blockchain industry.
This transition plan announcement demonstrates KUB Chain's and Bitkub Blockchain Technology's dedication to developing blockchain technology for the benefit of Thai society and to truly advance to the global stage.