Blockchain fintech firm Terra has signed a memorandum of understanding with Kakao Mobility to launch a blockchain-based mobility project.

They will jointly research on ways of upgrading the quality of Kakao T platform to ensure more convenience for users.

The two would establish a centralized database. They would also seek ways of going abroad for business.

Kakao Mobility has been running the Kakao T platform through which taxi drivers can receive calls from passengers and drivers can easily find parking spaces nearby.