The largest South Korean satellite provider KT SAT has confirmed its interest in implementing of blockchain tech, according to EDaily.
KT SAT is the number one South Korea's satellite service manufacturer & provider. It’s the country’s only satellite operator.
It’s reported, that during KT SAT Partners Day the administration of the company has announced the launch of KT SAT Alliance with new initiatives, including 5G, cybersecurity, blockchain and IoT.
The CEO of KT SAT, Han Won-sik, said that the company must continue to search for “new services through new ICT convergence”, in order to compete on the global satellite market level.
It seems, that despite total bearish mood on the crypto market, blockchain industry is still keeping good. Previously, blockchain software company ConsenSys acquired American asteroid mining company Planetary Resources, and Singapore-based SpaceChain company even succeeded to send a fully functional Qtum Blockchain node into space, capable of carrying out multi-signature transactions and launching smart contracts.
Earlier, Seoul mayor, Park Won, announced that Seoul would create a blockchain complex to house around 200 companies as well as create a 100 billion won ($88 million) fund to foster talents in the blockchain field.
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