KT Corporation, South Korea’s largest telecom provider is partnering with China Mobile targeting blockchain technology and 5G roaming.
On Dec. 5, The Korea Herald reported that KT Corporation is ramping up to debut 5G roaming capabilities in China later this month.
The companies are working on that would allow them to save time and costs when computing roaming charges for mobile users.
The report notes that the B.Link system is able to “self-analyze roaming data from the two carriers and can process roaming charges on a real-time basis.”
<img width="1024" height="679" src="https://www.cryptonewspoint.com/wp-content/uploads/2019/12/20191205000512_0.jpg" alt="" class="wp-image-6569 lazyload" />
Prior to the announcement around six months ago, KT revealed that it had built a blockchain network of its own. The Network Blockchain features roaming, along with user identification.
That announcement, in turn, followed KT’s BaaS (Blockchain-as-a-Service), which aims to ease access to the technology for South Korean firms.
Both The Countries Enthusiastic on Blockchain
Recently, it was announced that The National Assembly of South Korea is progressing a bill that would provide a legal basis for cryptocurrencies in the country. The bill would categorize virtual currencies as digital assets while intending to bring regulatory clarity and transparency to crypto markets in South Korea.
China recently outpaced other countries including the United States in blockchain technology measured by patent applications. Chinese companies submitted around 7,600 applications between 2009 and 2018 — about three times as many as U.S.-based companies.
The CEO of South Korean internet giant Kakao, Yeo Min-soo is quite enthusiastic about Klaytn blockchain’s similarity to Facebook’s Libra although saying it is a way ahead in its development.
Source: The Korea Herald | Cointelegraph | Image: Payments Journal