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KT Corporation From South Korea To Help Develop Blockchain

13:41 22/02/2019
South Korean Company KT To Launch BaaS Blockchain Platform

KT Corporation, South Korean leading telecom company, plans to launch the BaaS platform in March 2019, Cointelegraph reports with reference to a local news agency.


The company representatives state they are seeking to make blockchain technology more accessible in South Korea. They presented the concept for their partners and all interested organizations. KT offers developments in the field of DLT through its Blockchain Center, established in July 2018.


The platform will contribute to a comprehensive understanding of blockchain and will create an ecosystem for the further development of partner companies, Seo Young-Il, KT Senior VP and Head of Blockchain Center, stated. He further added that KT Corporation will continue to develop the blockchain sector in the country.


Representatives of 43 companies took part in the presentation, all of them aimed to find out in which areas of activity blockchain technology would be most useful.


South Korean authorities are loyal to the spread of blockchain technology and even facilitate this process. In February 2019, Seoul lawmakers claimed that $1 billion would be invested in blockchain startups by 2022.


KT Corporation seeks to go beyond the traditional scopes of its activities and develops its own crypto. Based on some reports, the launch of the company's K-Token is planned for April 2019, its annual issue will be $9.8 million.


Earlier, the Seoul Business School opened the world's first master courses in the study of cryptocurrency and blockchain technologies.

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