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.