Tuesday, November 20, 2018
S. Korean Companies Expand Applications of Blockchain Tech to Various Services
Increasing Blockchain-based Services
S. Korean Companies Expand Applications of Blockchain Tech to Various Services
  • By Yoon Yung Sil
  • March 26, 2018, 02:00
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An increasing number of South Korean firms are trying to converge blockchain with various services.
An increasing number of South Korean firms are trying to converge blockchain with various services.

 

As an increasing number of companies around the world is seeking to attract investment through an initial coin offering (ICO) based on blockchain technology, South Korean firms are also trying to converge blockchain with various services.

According to related industry sources on March 25, Certon Co. is one of the companies that has recently had a high profile. This firm has joined hands with LG U+ Corp. for a medical system identification service pilot project. Certon formed a consortium with a medical information system solution provider for blockchain-based medical system identification services at the end of last year and has pushed ahead with the project.

The medical system identification service, which will be test run starting from university hospitals, is combined with document distribution history management system based on Certon’s blockchain technology. With stronger security than existing issuance systems, Certon will provide a perfect identification service that is converged with LG U+’s authentication services.

More and more companies are introducing the blockchain technology in the remittance sector. Converging blockchain with overseas remittance services allows consumers to wire money to other countries faster and more conveniently. Moin Inc. has already been providing a remittance service to Japan and is planning to expand it to China and Vietnam by the end of this year. Bluepannet Inc. is also offering a blockchain-based remittance service to the Philippines, China, Japan and Vietnam. The amount of cumulative remittances of the two companies reaches 85 billion won (US$78.78 million).

Some game developers are also converging the blockchain technology with their products. Quiztok Co. is preparing to launch its new blockchain-based game dubbed “Quiztok” that enables users to quiz others and provide cryptocurrencies to those who get the right answer. Metaps Plus Inc. has already released a game named “DIG-LAND.” When users play the game for a long time, they receive virtual currencies in return. Moreover, some firms manage game data through blockchain and introduce new advertising platforms. Mithril Inc. is currently proceeding with an advertising platform project that that provides game companies with customized marketing information after recording game information what gamers enjoy the most in blockchain. 

In addition, HanbitSoft Inc., which is best known for “Audition,” is proceeding “Bryllite Project” that designs a new blockchain technology for games in cooperation with Metapsplus Inc. More than 10 game developers in the country have also decided to release their products through HanbitSoft’s blockchain.