KT Corporation Has Built Its Own Blockchain

KT Corporation, one of the two biggest telecoms companies in South Korea, has released an exclusive blockchain network, planning to apply the innovation across zones including ID confirmation, data roaming, and energy trading.

As indicated by a report from CoinDesk Korea, the firm uncovered its KT Network Blockchain on Tuesday, bragging a throughput of 2,500 transactions for every second (TPS) thanks to an integration with its current high-speed commercial network.

The organization also asserts it can scale up that figure to 10,000 TPS before the year’s over and even as high as 100,000 TPS by 2019.

With the release, KT said it is presently hoping to utilize the innovation to validate clients’ identities for them to streamline global roaming services. The component would enable clients’ data to be safely shared among worldwide accomplices over a distributed network.

For the principal phase of the plan, the telco said it will work with China Mobile and Japanese mobile operator NTT DoCoMo to begin investigating the tech in international data roaming within the year.

KT Network Blockchain is also expected that would play a part in energy trading in the second half of the year with organizations taking part as hubs to exchange unused energy quotas over the distributed network.

Today, a declaration was made which follows a plan – reported by KT in April – to utilize another telecommunication system incorporated with blockchain security solutions as a feature of a digital  infrastructure project named “Future Internet.”