South Korea’s top telephone company—state-owned KT Corporation—reveals its own blockchain network

South Korea’s top telephone company—state-owned KT Corporation—reveals its own blockchain network

State-owned KT Corporation, South Korea’s largest telephone company, has announced the launch of its blockchain-powered commercial network. The firm has built a blockchain layer on top of its existing nationwide network in order to make it “more secure and transparent,” according to an article by The Korea Herald published Tuesday, July 24.

The news outlet reports the head of KT Blockchain Center Seo Young-il as saying that blockchain tech can be used in telecommunications for secure and efficient data management. Seo added:

“The whole point of applying blockchain to networks is to address security and transaction issues by making the current networks more secure and trusted.”

With its new network, KT plans to allow its individual and corporate clients to store and transfer their digital data with “less hacking risks,” The Korea Herald further reports. The network has a claimed capacity of 2,500 transactions per second (TPS), compared to Bitcoin’s (BTC3 TPS and Ethereum’s (ETH15 TPS.

Tony Perkins
Tony Perkins is founder and editor of Alchemist and Cryptonite. Tony previously founded Red Herring, AlwaysOn, The Churchill Club, and cofounded Silicon Valley Bank's Technology Group.

11 Comments

  • Good blog you have got here.. It’s hard to find good quality
    writing like yours nowadays. I truly appreciate individuals like you!
    Take care!!

  • Wow! At last I got a webpage from where I be able to actually take helpful
    information concerning my study and knowledge.

  • Hi there would you mind letting me know which web host
    you’re working with? I’ve loaded your blog in 3 completely different web browsers and
    I must say this blog loads a lot faster then most. Can you suggest a good internet hosting provider at a honest price?
    Thanks a lot, I appreciate it!

  • I’m truly enjoying the design and layout of your website.
    It’s a very easy on the eyes which makes it much more enjoyable for me to come here
    and visit more often. Did you hire out a developer to create
    your theme? Superb work!

  • Hi there every one, here every person is sharing these knowledge, thus it’s good to
    read this website, and I used to pay a visit this blog everyday.

  • I don’t know whether it’s just me or if perhaps everyone else
    encountering issues with your blog. It appears like
    some of the written text on your content are running off the screen. Can somebody else please provide feedback and let
    me know if this is happening to them too? This may be a issue with my
    internet browser because I’ve had this happen previously. Many thanks

  • It’s a shame you don’t have a donate button! I’d without a
    doubt donate to this outstanding blog! I
    suppose for now i’ll settle for bookmarking and adding
    your RSS feed to my Google account. I look forward to brand new
    updates and will share this website with my Facebook group.
    Talk soon!

  • I loved as much as you’ll receive carried out right here.
    The sketch is tasteful, your authored subject matter stylish.
    nonetheless, you command get got an shakiness over that you
    wish be delivering the following. unwell unquestionably come more formerly again since exactly the same nearly a lot often inside case you
    shield this increase.

  • Hello, yup this piece of writing is actually pleasant and I have
    learned lot of things from it on the topic of blogging.

    thanks.

  • Hmm it appears like your website ate my first comment
    (it was super long) so I guess I’ll just sum it up what I had written and say,
    I’m thoroughly enjoying your blog. I too am an aspiring blog blogger
    but I’m still new to the whole thing. Do you have any recommendations for rookie blog writers?
    I’d genuinely appreciate it.

Leave a reply