South Korea’s largest telephone company, KT Corporation, plans to launch a blockchain-as-a-service (BaaS) platform next month, local news outlet iNews24 reported on Feb. 21.
KT reportedly revealed the concept to interested business clients at a presentation this week. The firm says it wants to increase the accessibility of blockchain technology locally.
The platform comes as KT continues its blockchain offerings via a dedicated Blockchain Center, which launched a commercial network in July of last year.
“The KT BaaS platform will lower barriers to entry into the blockchain sphere and build an ecosystem that can grow with its partners,” iNews24 quotes Seo Young-il, the company’s senior vice president and head of the Blockchain Center, as saying:
“We will be further developing the blockchain industry in South Korea.”
According to the publication, a total of 43 companies were present at the meeting, all interested in understanding what use cases blockchain could fulfil in their operations.
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