In a significant move poised to reshape the blockchain landscape in South Korea and beyond, Dunamu, the operator of the country’s leading cryptocurrency exchange Upbit, has introduced its new Web3 infrastructure brand, GIWA. The unveiling took place at the prestigious Upbit Developer Conference (UDC) in Seoul, marking a pivotal moment for the nation’s burgeoning blockchain community.
Introducing GIWA: A New Era for Blockchain
GIWA, an acronym for “Global Infrastructure for Web3 Access,” represents Dunamu’s ambitious venture into the Web3 sphere. The brand encompasses the GIWA Chain, a layer-2 blockchain developed on Optimistic Rollup technology, and the GIWA Wallet, a versatile mobile application designed to facilitate digital asset storage and transfers across multiple blockchain networks. These include Ethereum, Base, Arbitrum, Avalanche, and Polygon, alongside its proprietary GIWA Chain.
The name ‘GIWA’ draws inspiration from Korea’s traditional roof tiles, which are known for their durability and strength. These tiles overlap to form resilient structures, much like how the GIWA Chain aims to stack data securely while supporting the deployment of smart contract-based applications. This metaphor highlights Dunamu’s vision of creating a robust and accessible blockchain infrastructure.
A Testbed for Innovation
At present, the GIWA Chain is available in testnet, providing developers with a platform to experiment and innovate. The GIWA Wallet, meanwhile, is showcased for demonstration purposes during the conference, generating buzz among attendees eager to explore its capabilities. While the wallet’s official launch date remains under wraps, Dunamu has assured that it will continue to expand support for additional blockchains in the future.
The announcement of GIWA comes amid rising interest and competition in the global blockchain arena. Dunamu aims to counterbalance the dominance of U.S. and Singapore-based blockchain ecosystems by offering local infrastructure tailored to the needs of Korean developers. This strategic move is expected to foster a more inclusive and diverse blockchain community in the region.
Challenging the Status Quo
Dunamu’s introduction of GIWA is a bold attempt to carve out a significant niche in the global blockchain market. By providing a locally developed alternative, the company seeks to empower Korean developers and encourage their participation in the Web3 revolution. This initiative is particularly timely as the demand for decentralized applications and services continues to soar.
The launch of GIWA has been the subject of speculation for some time, fueled by the appearance of trademark applications online. The official announcement at the UDC conference has put to rest months of anticipation, with a dedicated website for GIWA now live, offering insights into the brand’s vision and offerings.
A Balanced Perspective
While GIWA’s debut has been met with enthusiasm, it also raises questions about its potential impact on the existing blockchain landscape. Some industry observers are optimistic, viewing GIWA as a catalyst for innovation and competition. They believe that the introduction of a new player could drive further advancements and encourage collaboration among blockchain projects.
However, others caution that the success of GIWA will depend on its ability to differentiate itself from established platforms and address the unique challenges facing developers. The integration of multiple blockchain networks and the promise of enhanced accessibility are promising features, but the execution will be critical in determining GIWA’s long-term viability.
Looking Ahead
As the global blockchain community continues to evolve, initiatives like Dunamu’s GIWA are crucial in shaping the future of decentralized technology. By offering a platform that prioritizes security, scalability, and interoperability, GIWA has the potential to attract and retain a vibrant community of developers and users.
While the journey is just beginning, the unveiling of GIWA at the UDC conference marks a significant step forward for Dunamu and the broader South Korean blockchain ecosystem. As the testnet phase unfolds and the GIWA Wallet moves closer to its official launch, all eyes will be on Dunamu to see how it navigates the challenges and opportunities that lie ahead.
In the ever-changing world of blockchain technology, where innovation is the currency of progress, GIWA stands as a testament to the power of local ingenuity and ambition. Whether it will redefine the Web3 landscape or merely add another layer to it remains to be seen, but one thing is certain—Dunamu’s latest venture is one to watch.
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
