Upbit’s Parent Goes Full Blockchain-Will GIWA Change Your Life or Just Give You a Headache?

by

Web3

What to know:

  • Dunamu, that parent company of Upbit you never asked about, decided it’s time Korea gets its own fancy Web3 infrastructure. They launched GIWA at a developer conference-because apparently, you can’t just drop new blockchains in a group chat.
  • There’s a GIWA Chain (layer-2, Optimistic Rollups…very technical, basically means it might be fast, or just optimistic), plus a GIWA Wallet, so now you have a new excuse when your crypto disappears. “Honey, it’s the infrastructure!”
  • A bunch of internet sleuths found those trademark filings before the big reveal. Congratulations, you’re a detective…for blockchains. 🕵️‍♂️🥲

So Dunamu-the mastermind behind Upbit, which by the way is kind of like the Korean Coinbase if Coinbase wore more expensive shoes-rolls out their own Web3 brand, GIWA, at a big conference in Seoul. Because nothing says innovation like waiting for applause in a hotel ballroom. 👏

Now, GIWA is supposed to help developers and crypto fans figure out blockchain for, you know, Korea AND the rest of the world. Like, world domination, but with less yelling.

It stands for “Global Infrastructure for Web3 Access,” because someone spent hours with a thesaurus. GIWA Chain runs on Optimistic Rollup tech. Basically: it stacks things, it rolls them up, and, in theory, your money goes zoom. Also, the GIWA Wallet promises “easy asset storage and transfer” across all the big chains plus GIWA Chain. So, sure, another thing to install and forget the password to. 🙄

Dunamu is doing a cute branding thing-comparing their blockchain to traditional Korean roof tiles (“giwa”) that stack up and don’t fall on your head. If anything, let’s hope the blockchain stacks better than my grandma’s roof. The GIWA Chain is in “testnet”-which is tech lingo for “it probably breaks.”

The wallet exists, at least as a demo at this conference, so you can pretend to move assets around before it’s actually launched. Actual launch date? Dunamu shrugs. Maybe next week, maybe when Bitcoin hits $1 million, who knows.

They revealed GIWA to push back against all those U.S. and Singapore blockchains dominating Korea. Because clearly, what the world needs is more blockchains. 🌏🤦‍♂️

If you were one of those nerds poking around for patent applications, congrats, you spotted GIWA before anyone cared. The website is up, so if you want to waste a few minutes, go ahead.

Read More

2025-09-09 11:49