KT Corp. has developed a cloud-based blockchain as a service (BaaS) platform in order to provide an environment where Korean companies can easily develop blockchain services. The company plans to apply the KT BaaS platform to in-house services first.
The KT BaaS platform allows a user to automatically set up blockchain nodes in uCloud without installing separate servers. Companies which want to use blockchain technology can save the cost of installing servers through the KT BaaS platform and at the same time, shorten the time needed to develop blockchain applications.
In addition, the KT BaaS platform provides a smart contract application program interface (API) that allows users to easily implement and utilize a smart contract, which is a key feature of blockchain, even without a blockchain developer. It also supports various control functions for stable blockchain services.
KT has finished preparations to compete in the blockchain BaaS market with major overseas IT companies such as Microsoft (Azure), IBM and Amazon (AWS). It has opened the BaaS platform inside the KT Group first and will implement a pilot project in February. In March, KT will launch a formal service for other companies that wish to develop blockchain services.