Major South Korean companies are investing in blockchain

With KT planning on releasing a digital currency, it can now be said that ever major conglomerate in South Korea is involved in blockchain.

Almost all major South Korean conglomerates are involved in blockchain space, according to South Korea’s KT Corporation representatives.

South Korea’s KT Corporation has announced the forthcoming launch of its own digital currency. Now almost every national multi-profile corporation has officially invested in blockchain.

KT Corporation, the largest provider of telecommunications services in South Korea, recently officially filled the last blank line in the list of South Korean heavyweight corporations that have decided to dive into the cryptocurrency industry.

The company intends to launch the digital currency in Busan, South Korea’s second largest city with a population of about 3.5 million people. Local media report that release of the cryptocurrency from KT Corporation is scheduled for December 30. This event will mean that now every South Korean big conglomerate is somehow involved in innovative technology.

Samsung has long established itself as a supporter of the new technology and has actively invested in the blockchain. The company has officially embarked on a strategic course to develop solutions based on 6G, blockchain and artificial intelligence. In July this year, the company released a beta version of the software development kit (SDK) based on Ethereum for its latest line of Galaxy smartphones. It offered a complete set of features needed by any decentralized application (DApp). In addition, the company has integrated a crypto wallet into the Galaxy S10 and Samsung A70 smartphones.

Internet giant Kakao is now actively working on a non-financial application based on its own blockchain platform. The company plans to integrate it into all its existing services, thus making it a “killer app”.

LG has reportedly been developing a mobile crypt currency wallet since summer.

Hyundai, the largest producer in the South Korean car industry, has allocated $10 million to launch its own mainnet for upcoming cryptocurrency.

This year became extremely productive for the blockchain in South Korea. And this is only the tip of the iceberg. A huge number of other companies in Korea are also switching over to blockchain technology. You should follow their example — investing in Bitcoin and blockchain can make huge profits in the future. Invest in Hashmart cloud mining contracts to start earning cryptocurrency today!