‘KT Network Blockchain’

KT will build blockchain infrastructure and platform that can be utilized for the nation's entire telecommunication infrastructure.
KT has developed KT Network Blockchain that can be utilized for the nation's entire telecommunication infrastructure.

KT has unveiled “KT Network Blockchain” that applies blockchain technology to commercial networks. The company plans to expand the size of the domestic blockchain market to one trillion won by 2022 by applying blockchain technology to KT's five major platforms, including those for artificial intelligence (AI) and 5G mobile telecommunications and wired and wireless networks.

KT announced on July 24 that the Korean telecom giant would build blockchain infrastructure and platform that can be utilized for the nation's entire telecommunication infrastructure.

"Current public blockchains whose systems are open to anyone are not suitable for commercialization due to a low processing speed and capacity," said Seo Young-il, head of the KT Blockchain Center.

“Closed data management gives private blockchains participated in by certain groups low transparency. Small structures are blamed for a limit of relatively poor security," Seo said, explaining about the background of KT’s launch of the blockchain network.

To address this challenging issue, KT has built a node (server) that combines blockchains in a nationwide high-speed network. At the moment, the KT blockchain network offers a performance of 2500 TPS, but the network is expected to realize 10,000 TPS by the end of this year and achieve up to 100,000 TPS by the end of 2019. The higher TPS speed is, the faster a blockchain authentication process becomes.

KT will also apply blockchain technology to its current internet services. The company plans to make it possible to authenticate a user as soon as the user connects its networks through unique ID-based networking instead of an IP. It is expected that blockchain-based platforms will help realize media, energy, financial, anti-disaster, safety and security, enterprise and public services.

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