Shinhan Bank: First Major Bank To Adopt Bitcoin Deposit Service

[Digital Daily Reporter] As virtual coins, which are representative virtualization costs, exceed $ 8,000, social interest in virtual money is increasing, and the discovery of virtual money related services at the bank is accelerating.

According to the related industry on April 24, Shinhan Bank has been awarded a contract to build a virtual money safekeeping service test business and it is said that it is in business. Shinhan Bank plans to provide a virtual money deposit service such as bit coin by combining the strong security of the bank and the advantages of virtual money.

Normally, when purchasing a bit coin, the customer stores the bit coin key value as evidence. This is done primarily through the online wallet app. However, if a smartphone that has an app installed is lost or a key value is leaked, the bit coin user is likely to lose the principal. This is because it is difficult to duplicate the evidence of bit coin ownership due to the nature of the virtual money that does not depend on central trust institutions.

When using virtual currency, the participant's private key is a legitimate participant and a means of approving and certifying activity. If a private key is stolen by an attacker, it can be exposed to various attacks of an attacker who is disguised as a normal participant.

Kim Dong-jin of the Financial Supervisory Service said, "When a key stored in a terminal is stolen by an attacker, assets and confidential transactions protected by the key can be leaked." " If you do, you may not be able to transfer assets and even if your key is abused, you can not verify it. "

Shinhan Bank plans to build a safe service test server that can safely store virtual money. Develop mobile apps that can use the service, and develop managerial pages for statistics and analysis.

Shinhan Bank official said, "It is a service that keeps the block chain key through the virtual safe provided by the bank." He said, "We are looking for ways to provide a free service when depositing and charge a fee when withdrawing."

Recently, the virtual currency exchange BITSUMM was suspended for about an hour and a half by server paralysis on the 12th, and in June, 30,000 customers leaked personal information such as e-mails and mobile phone numbers through hacking. If security services are provided by a bank with the highest level of security, there is no doubt that it will have a tremendous impact.

The block-chain study group in the Japanese financial sector has already been engaged in key roles, such as key management, participant verification and approval, personal information access control, block chain sw management, etc. through the 'core node' And financial institutions are participating in the realization of virtual money deposits and withdrawals.

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