July 14, 2024

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Latest technological developments

South Korea’s SK Telecom to build its first Web3 wallet


SK Telecom has partnered with blockchain companies AhnLab Blockchain Corporation and Atomrigs Labs to acquire and function a electronic wallet for cryptocurrency administration and Internet3 accessibility, the South Korean telecommunications huge announced on Monday. 

See associated report: South Korea’s second-premier conglomerate to problem have cryptocurrency

Rapidly facts

  • SK Telecom mentioned consumers of its wallet will be ready to retailer, transfer and get blockchain-issued tokens such as cryptocurrencies, non-fungible tokens (NFTs) and “soulbound tokens” (SBTs), which are permanent, non-transferable NFTs for verifiable identifications and certificates.
  • SK Telecom owns more than 47% of all mobile communications buyers in South Korea as of 2021, in accordance to Korea Data Society Growth Institute (KISDI).
  • The telecommunications arm of conglomerate SK Group also operates its individual metaverse, Ifland, which has a month-to-month normal user base about 1.1 million individuals. 
  • SK Group’s info engineering investment decision subsidiary, SK Square, has been operating on its individual cryptocurrency that is intended to be utilized inside SK’s World wide web3 community.

See associated report: Are we helpless against assaults on blockchain bridges?


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