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.”
Join in on the conversation with Alex Masters Lecky when you subscribe to CRYPTONICLES.