The Telecom industry in Korea announced secure blockchain, IoT and 5G projects
KT, formerly known as the Korea Telecom has released a new series of initiatives which are powered by the cutting edge blockchain technology. Some of the most important projects that KT is going to bring forward are GiGA Chain, a blockchain network powered by 5G tech, a blockchain application which will secure the Internet of Things devices, a local platform to exchange currency and lastly Blockchain as an offering of services.
The security challenges that the IoT Devices are facing around the world is going to be addressed with the help of the GiGA Stealth. GiGA Stealth will provide a better security solution to the smart home cameras. The hackers around the world connect these devices by only using the IP address or the internet address that the camera is linked with. GiGA Stealth is specially curated to hide these addresses.
If a person wants to have access to a camera or some of the other Internet of Things devices the connection goes through the GiGA Sleath Blockchain. The blockchain application utilizes the smart contract for issuing the single-time mutual authentication access token.
Presently, the company is planning to use the GiGA Stealth for addressing the Business 2 Business Internet of Things security market such as the connected cars as well as the smart factories. By the looks of it, GiGA Stealth works alongside the existing systems which plan on enabling the devices on the 5G network.
In the previous year, KT unveiled that they have curated custom-made blockchain protocol that manages to process 10,000 transactions per second. According to the sources, the company is trying to improve the blockchain protocol which will handle a unique number of transactions with higher speeds.
Back in March, KT released the GiGA Chain as a BaaS or Blockchain as a Service platform.
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