Korea's Largest Telecom Operator Announces Blockchain Service For Asset Management

South Korean telecommunications operator SK Telecom announced the release of an asset management service with Blockchain tech, as well as a platform for linking Blockchain startups with investors, local news outlet The Korea Herald reports today, April 24.According to Oh Se-hyeon, the executive vice president of the telecom operator's Blockchain division, "The service will allow users to manage all bank accounts, credit cards, mileage points and other non-financial assets, including cryptocurrencies, in one basket, and enable transactions of the assets based on trust."

"SKT will provide systematic administrative supports for startups to issue bitcoins in a more transparent and safe manner through the platform We will provide consistent supports for companies that will do businesses using blockchain technologies and help create a blockchain ecosystem."

Business tech outlet ZDNet also reported today that SK Telecom will be using a Blockchain-based real name authentication program for its subscription and verification service.

SK Telecom is already an investor in crypto exchange Korbit; the telecom operator was one of the first major investors in the exchange alongside tech investor Tim Draper.