Main page News, Blockchain, South Korea
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July 24, 2018
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South Korea’s KT Corporation, one of the biggest telecom companies in the country, started its own blockchain network. The giant plans to use it in various services, such as digital identification, data roaming and energy trading.

According to the company the bandwidth of KT Network Blockchain is 2,500 transactions per second. This is achieved through integration into an existing high-speed commercial network. The corporation is confidently expecting to reach 10,000 transactions per second that by the end of the year, and 100,000 in 2019.

KT said that after the introduction of the platform, it plans to use the block system to authenticate users' personalities, which may be useful for improving international roaming services. The platform will also allow secure transmission of user data to global partners of KT via a distributed network.

KT Network Blockchain is also expected by the company to begin to play a role in energy trading in the second half of the year and to be used by corporations wishing to exchange unused energy quotas through a distributed network.

WHY IS IT IMPORTANT?

1. KT Corp, the second largest mobile operator in South Korea, was the first in the world to launch a commercial network based on blockchain.

2. A commercial network that overcomes the limitations of both public and private blockchain, makes the existing network more transparent and secure.

By Ekaterina Ulyanova

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