Union Cellular, the fourth-largest cell service in South Korea, introduced the launch of its blockchain venture referred to as ELYNET.
Utilizing blockchain to make communication extra environment friendly
On Sept. 11, Union Cellular announced that ELYNET goals to make use of blockchain expertise to make telecommunications extra environment friendly for these customers who depend on a single service for telecom service.
ELYNET will purportedly enable customers to freely use knowledge communication providers with out roaming charges and contracts. Union Cellular’s CEO Seyong Ro defined that the platform will launch with an accompanying token, stating:
“This may assist us to appreciate our enterprise. When customers connect with the communications community by way of ELYNET’s personal working system, they will buy knowledge by way of ELyX, a token utilized in ELYNET’s ecosystem, and freely take pleasure in cell knowledge communication wherever on the earth with out roaming charges or contracts.”
Korean digital giants creating blockchain telephones
Cointelegraph not too long ago reported that South Korean electronics large LG is working with blockchain builders to launch a rival to Samsung’s Klaytn blockchain smartphone. The information got here every week after reports that Korean messaging service Kakao was making ready to roll out blockchain capabilities on the Samsung’s forthcoming Galaxy Observe 10 smartphone.
An trade insider said LG had already held discussions with native decentralized utility builders and had labored out a use case for its future product. It stays unknown whether or not LG’s future providing will grow to be internationally accessible. The Klaytn cellphone will solely be accessible on the home South Korean market.