South Korea’s KT Corporation Is Going After Blockchain Tech with China Mobile
- The new collaboration will be focused on integrating blockchain technology and 5G roaming.
- South Korea’s Kakao Corporation has boasted that its own blockchain – Klatyn – is far superior to Facebook’s Libra.
KT Corporation is the largest telecommunications provider in all of South Korea, and they’ve decided to team up with China Mobile. In their new project, the twosome will be focusing on 5G roaming and blockchain technology, according to reports by The Korea Herald on December 5th. The launch of 5G roaming capabilities for Chinese citizens is scheduled by KT for late December.
While the companies prepare for the 5G launch, they are also working to establish a time-saving and cost-cutting blockchain system, which will be used in determining roaming charges for mobile customers. The Korea Herald reports that this new setup – known as the B.Link system – is made to “self-analyze roaming data from the two carriers and can process roaming charges on a real-time basis.”
About six months ago, KT had revealed that they’d already created their own blockchain network. Much like the collaboration, the KT Network Blockchain focuses on roaming, user identification, and other use cases. Prior to the announcement of the network, KT launched their Blockchain-as-a-Service, which helps South Korea firms access the technology with ease.
Both South Korea and China have been supportive of blockchain technology, as Cointelegraph has reported. After all, China hosted a publicity campaign in November, making fintech a part of formal state policy. In South Korea, the Kakao Corporation recently stated that the new Klaytn blockchain has a much more advanced format than the controversial Libra token from Facebook.
A study published last year, referenced by CoinTelegraph, projected that blockchain technology stands to bring in $1 billion in added value for the telecoms sector in the next three to four years.