Giant KT Has Built Its Own Blockchain
KT Corporation is one of the two largest telecoms companies in South Korea, has launched a proprietary blockchain network aiming to apply this in the areas of Data roaming, Energy trading, and ID verification.
The KT network blockchain can produce 2,500 transactions per second or TPS, The company future claims it can scale up that figure 10,000 TPS by the end of the year and even as high as 100,000 TPS by 2019
KT will be applying this technology to authenticate user identities in order to streamline international roaming services. This feature would allow users information to be securely shared among global partners over a distributed network.
The details from telco said the in the first stage it will work with China Mobile and Japanese mobile operator NTT DoCoMo.
KT Network Blockchain is also expected to play a role in energy trading in the second half of the year. Corporations as nodes can exchange unused energy quotas across the distributed network.