[Writer's Choice] Blockchain Project Launched by Major Mobile Carrier in South Korea
Jay Yim, Sept. 13, 2019, 2:35 p.m.
The fourth-largest mobile carrier in South Korea, Union Mobile, made an announcement on the launch of its blockchain project called ELYNET.
Union Mobile on Sept. 11 announced that blockchain technology will be used to make telecommunications more efficient for users who rely only on a single carrier for telecom service.
According to their project ELYNET, users will be given access to use data communication services without roaming fees and contracts. Union Mobile CEO Seyong Ro said that the platform will launch with an accompanying token.
"This will help us to realize our business. When users connect to the communications network through ELYNET's own operating system, they can purchase data through ELyX, a token used in ELYNET's ecosystem, and freely enjoy mobile data communication anywhere in the world without roaming fees or contracts."
In a recent report by cointelegraph, LG, South Korea's electronics giant, is believed to be working with blockchain developers to lauch a rival to Samsung's Klatyn blockchain smartphone. This news came only after a week after reports made that South Korea's messaging service Kakao was readying to roll out blockchain abiltiies on the upcoming Galaxy Note 10 by Samsung.
According to an industry insider, LG already had talks with local decentralized application developers and worked out a use case for its future product. It is still unknown whether LG's future offering will launch overseas. The Klaytn blockchain smartphone currently is only accesible on the domestic South Korea market.