The Korean phone company will use the blockchain for data processing
Source:
Largest phone company in South Korea, KT Corporation has announced the launch of its own commercial network on the blockchain. According to information , the firm will use the technology to achieve the «safer and more transparent» processing.
thea New use of the blockchain
The Head of the new Department bloccano SEO young-Il notes that the technology can be used for fast and secure processing of client information.
The Main purpose of the use of the blockchain to solve problems of security and speed of data transfer.
KT Corporation offers individual and corporate customers to take advantage of their new network. Representatives of the company assure, that thanks to the blockchain, we process personal information can no longer be vulnerable to hacker attack. Network bandwidth — 2500 transactions per second. For comparison, can only handle 3 transactions per second.
The management of the Corporation plans to introduce the technology to work with international partners. According to local media reports, the blockchain will allow KT Corporation to speed up Internet connection for customers and respond faster to user accounts.
Earlier, KT Corporation joined blockchain to a consortium of companies Carrier Blockchain Study Group (CBSG). The main goal of this Association was the creation of an international ecosystem with the use of cryptocell, IoT devices and process individual user authentication.
According to experts, the Korean market services on the basis of the blockchain will grow 20 times already until 2022. Now the industry in the country has 44 million dollars.
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