South Korean Telecom Provider KT Corporation Launches ‘GiGA Chain’, a Blockchain 5G Network
According to a recent report released by The Korea Times, KT Corporation, the largest telecom firm in South Korea, has launched a blockchain-based 5G network brand.
The new GiGA Chain will be boosting security for Internet-of-Things (IoT) devices and protect them against possible attacks.
KT Corporation Launches 5G Network Brand Called GiGA Chain
KT’s new development, GiGA Stealth technology, will allow connected devices to be secured against hacks and other possible attacks. In order to do so, the firm will be hiding the IP addresses of these devices, making it invisible to malicious participants.
The president of the platform, Lee Dong-myeon, informed that the firm has been working so as to improve its assurance cybersecurity measures. IoT devices are clearly a target for hackers. Those devices operating in insecure networks would have issues in the future that could affect their normal functioning.
The new Blockchain-as-a-Service (BaaS) will allow organizations to be connected to the internet but it will be secured with newly developed technology. Moreover, the companies will be able to send and receive transactions without third parties involved. According to KT, 99% of hacking attacks have been performed to IoT devices, something that the new platform wants to reduce.
Internet of Things continues to evolve around the world. With the implementation of 5G networks, IoT devices will be more connected than never before. However, companies are already working in order to protect these devices from hackers and attackers that want to gather information and data from the devices connected to the network.
As per KT, the blockchain technology that they have been working on can be used for the digitization of vouchers that governments give to their residents. One of the cities that has already implemented this solution is Gimpo.