Korean Telecom Giant KT to Create Its Own Blockchain

The company claims that by the end of the year it expects to reach 10,000 transactions per second thru its blockchain, and in 2019 - 100,000
24 July 2018   245

One of the two largest telecommunication company in South Korea, KT Corporation has launched its own blockchain, intending to use it in various services, including digital identification, data roaming and energy trading.

According to CoinDesk, the company announced the creation of KT Network Blockchain, reported about a throughput of 2,500 transactions per second, achieved through integration into an existing high-speed commercial network.

The company claims that by the end of the year it expects to reach 10,000 transactions per second, and in 2019 - 100,000.

KT said that after launching its new platform, it intends to use the blockchain to authenticate users' IDs, which may be useful for improving international roaming services. The platform will also allow secure transmission of user data to global partners of KT via a distributed network.

At the first stage of the project, it intends to cooperate with China Mobile and Japanese mobile operator NTT DoCoMo, transferring international data roaming to a distributed network.

The company also expects that KT Network Blockchain will begin to play a role in energy trading in the second half of the year and will be used by corporations wishing to exchange unused energy quotas through a distributed network.

Ex S&P President to Invest in iComply Startup

The startup is aimed at developing tools and services to meet the regulative standards for blockchain start-ups
14 August 2018   116

Startup iComply, working in the field of regulatory technologies and compliance with standards, has just completed the initial round of financing, which was headed by former Standard & Poor CEO Deven Sharma, CoinDesk reports.

IComply, aimed at developing tools and services to meet the regulative standards for blockchain start-ups (especially for those that conduct ICO), said on Monday that it attracted a seven-figure sum during this invest-round, but did not say the exact figure. The round was also attended by DMG Blockchain and Block X Capital.

In addition, iComply reported that it was joined by former employee of the Commodity Futures Trading Commission (CFTC) Jeff Bandman, former Managing Director of NASDAQ and the Financial Services Industry Regulation Service (FINRA) Manny Alikandro, MIT Connection Science program member, Praveen Mandal and Prosecutor Thomas Linder.

According to Sharma, he decided to invest in the startup iComply, because the project "is focused on services for ICOs related to risks and compliance with standards." Compliance with the standards, he said, will ensure the transparency of ICO issuers and thereby help to ease the concerns of regulators.

Sharma also believes that iComply can contribute to the spread of crypto technologies, helping the entry of traditional financial services into this industry.

My interest is to see iComply evolve into a benchmark that investors can use to assess credibility of issuers, sustainability of underlying services and the price of ICOs. iComply's patent-pending software enables both security and utility tokens to monitor and document compliance, governance and risk procedures, before a public blockchain executes an immutable trade, providing trust, integrity and transparency for our clients. There have been a few ICOs that had a fundamentally robust offering that I understood and did interest me [but I] missed the opportunity. Others that have transparency from a service like iComply, I would [invest in].

Deven Sharma

Ex-president, Standarts & Poors

It is the ideas of transparency and trust, according to Sharma, that sparked his interest in order to start working with the blockbuster.