Many projects are working towards the elusive notion of “adoption”, ICON is noteworthy for its conscious and very deliberate allocation of resources to that end — the team behind the project has spent considerable time and energy building a proprietary enterprise solution, establishing defensible relationships and fostering partnerships over the last few years — the end goal is enhancing the “network effect” of the ICON ecosystem. ICON – SpecR Handbook

One of the ICON project’s most defining features is the amount of energy the platform has spent building relationships with other projects, enterprises and organizations. These collaborative agreements create use cases, generate synergies and promote wider adoption of blockchain technology. They are the building blocks of the “hyperconnected world” ICON aspires to erect.

As part of this effort to build relationships, ICON has signed memorandums of understanding (MoU) with entities across a wide range of fields. MoUs codify in written language a common will — in this case, a common will to leverage blockchain technology to build a better world, be it by promoting interoperability between blockchain platforms, by enabling better business surfaces or by helping startups in developing countries get on their feet.

The ICON Foundation has so far signed 13 MoUs, including ones with the Kyber Network, Naver LINE, Deloitte and SK Planet.

ICONLOOP, the tech company that created the blockchain technology that drives ICON’s public network, has signed another 11 MoUs. Those agreements include ones with Kyobo Life Insurance, Nonghyup Bank and the International Telecommunication Union.