SK Telecom (SKT) Forms Partnership with Germany’s Deutsche Telekom for Blockchain ID Solution


SK Telecom is the largest wireless carrier within South Korea. With their technology, they have decided to take on a new blockchain-based mobile identification solution but cannot do it alone. Instead, they have signed a memorandum of understanding (MoU) with Germany’s Deutsche Telekom, helping them to make this solution into a reality.

Though the MoU will not be formalized until the Mobile World Congress (MWC) 2019, which commences on February 25th, the collaboration already is giving hope to the companies. SK Telecom spoke with The Korea Times, saying that blockchain-based identification will make it easier to verify personal data. The head of the blockchain unit, Oh Se-hyun, said,

“Mobile blockchain identification can be utilized in a variety of areas including logins both online and in offices. Beginning with the latest collaboration, we will further spur the innovation of information and communications technologies.”

In the collaboration, T-Labs, the research and development unit for both entities, will be used to create a commercialized solution that will be applicable to access control, dealings, and contracts. Considering that many e-commerce and web-based interactions end up asking for the personal information of the user, the release of this data becomes out of the control of the user. This blockchain solution will help them keep control.

The blockchain system is entirely encrypted, so the disclosure of personal data will not be necessary. Instead, the sensitive information is preserved, while the user is still capable of identifying themselves. When speaking to reports on this matter, SK Telecom said that these solutions have the potential to eliminate the need for hard copies of government-issued identification, even including passports. The MWC 2019 will be the partnership’s opportunity to showcase their idea, which should be highly appealing to travelers that frequently have to validate their identity.

Recently. Deutsche Telekom became a part of the Hyperledger through the Linux Foundation, which is an open-source blockchain project. Many companies around the world have already joined the project, including tech giant IBM.

As for SK Telecom, the platform recently backed Upbit, a Korean crypto exchange. They have also launched a blockchain startup support platform and an asset management service, which both went live last year.

Bitcoin-BTC-Ethereum-ETH-Litecoin-LTC-and-EOS-Price-Analysis-Watch-Feb-21st

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide