​SK Telecom To Adopt Blockchain For Authentication

SK Telecom will adopt blockchain in subscriptions and payments to increase customer convenience, the telco has announced.

The company will launch a blockchain-based digital real-name authentication program to simplify subscriptions and verification processes for its services.

It is also preparing an asset management service for customers that will allow peer-to-peer trading of high value items.

SK Telecom will also launch a token exchange hub project that will help startups and SMEs commence ICOs transparently and safely.

South Korea's largest wireless carrier formed a blockchain unit last year to find new businesses opportunities.

The country imposed new regulations on cryptocurrency after trading overheated earlier this year. Korea bans minors, foreigners, and the anonymous from trading. ICOs are also banned locally. However, it has vowed to foster blockchain services going forward.

Earlier this month, a boss of a local cryptocurrency exchange was arrested for fraud.

Chat giants Kakao and Line formed their blockchain subsidiaries earlier this year.

PREVIOUS AND RELATED COVERAGE

Kakao to unveil blockchain platform within the year

South Korean chat giant Kakao's blockchain subsidiary, dubbed Ground X, will unveil its own platform within the year.

Google is experimenting with blockchain technology for use in the cloud: report

Reports suggest Google may be working on blockchain-based systems to support cloud businesses.

SK Telecom buys half of Swiss quantum-safe crypto firm for $65m

The South Korean telco has acquired quantum-safe solutions provider ID Quantique (IDQ) which will ensure security in the coming 5G era, the company said.

South Korea seeks transparency, rules out cryptocurrency trading ban

South Korea will prioritise transparency in cryptocurrency trading by preventing illegal and unfair activities, the Blue House said in response to a petition asking for less regulation in the emerging industry.

Why blockchain technology isn't just a fad (TechRepublic)

Jim Scott, director of enterprise strategy and architecture at MapR, explains how the blockchain works and why the tech will power countless startups.

RECENT NEWS

How Fintech Is Revolutionizing Traditional Banking

How fintech is revolutionizing traditional banking is a topic that is garnering positive and immense discourse within th... Read more

Blockchain And Its Impact On Fintech Industry

Blockchain and its impact on Fintech Industry has become a hot topic in the current digital era. The amalgamation of blo... Read more

The Rise Of Fintech In The Digital Era

In the heart of the digital revolution, we've observed a term termed as "fintech" creating a substantial and transformat... Read more

Role Of Fintech In Transforming Retail Banking

The role of fintech in transforming retail banking is producing significant changes in the financial services industry. ... Read more

Fintech Innovations In Asset Management

Financial technology, or FinTech, refers to the blending of financial services with technology. The importance of FinTec... Read more

Exploring The Future Of Accounting Software: Unveiling The Power Of AI

The revolutionary ignition sparked by artificial intelligence (AI) cannot be understated in contemporary business ecosys... Read more