South Korea’s KT inks blockchain deal with Chinese telecom operator

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Two of the largest telecoms operators in Asia are partnering on a blockchain-powered roaming charge system. South Korea’s KT Corporation and China Mobile will rely on blockchain to settle roaming charges for their users in a real-time and efficient way.

Known as B.Link, the system will ease the charging system when KT or China Mobile users roam, the Korea Herald reported. The system will self-analyze roaming data from the two carriers and will process roaming charges on a real-time basis. This will allow the companies to save on both time and costs.

KT, which is the largest telecoms operator in South Korea, has continued to invest in blockchain technology, aiming to become a leader in the competitive South Korean blockchain space. As CoinGeek reported in October, the company is developing a blockchain-powered platform that will ensure the authenticity of halal food. KT partnered with the Korea Muslim Federation on the initiative, with all food being issued with QR codes. The codes enable the consumers to trace the food throughout the supply chain to ensure their authenticity.

KT also partnered with South Korea’s largest payment processing platform BC Card to settle reward points. BC Card relies on KT’s blockchain platform to settle VIP points and vouchers paid out to its affinity partners. The company revealed that the use of blockchain technology had reduced its processing time by 50%. The errors made also decreased.

KT faces stiff competition for the South Korean blockchain market from global electronics giant Samsung. The Seoul-based company has invested heavily in blockchain applications, including having an in-built wallet in some of its leading smartphones. Samsung has also worked with Korean authorities on blockchain projects, including on decentralize verification.

For its part, China Mobile has also invested in blockchain technology. The company, which is the largest telecoms operator in the world, is a founding member of the Trusted Blockchain Telecom Application Group. The group is working on blockchain-as-a-service products as well as the integration of blockchain in the Internet of Things, logistics, clearing and more.