Union Cell, the fourth largest cellular supplier South Korea, introduced the launch of its blockchain undertaking referred to as ELYNET.
Use Blockchain to make communication extra environment friendly
On September 11, Union Cell announced that ELYNET goals to make use of blockchain know-how to make telecommunications extra environment friendly for these customers who depend on a single provider for telecom providers.
ELYNET is alleged to permit customers to freely use information communication providers with out roaming fees and contracts. Union Cell CEO, Seyong Ro, defined that the platform will likely be launched with an related token, which states:
"It will assist us notice our enterprise. When customers hook up with the communication community via their very own ELYNET working system, they will buy information via ELyX, a token used within the ELYNET ecosystem, and revel in free cellular information communication anyplace with out roaming fees or contracts. "
Korean digital giants growing blockchain telephones
Cointelegraph not too long ago reported that South Korean electronics large LG is working with blockchain builders to launch a rival for Samsung's Klaytn blockchain smartphone. The information got here per week later reports that the Korean messaging service Kakao was making ready to roll out blockchain capabilities on the upcoming Galaxy Observe 10 smartphone from Samsung.
An insider within the trade said LG had already had discussions with native decentralized utility builders and had labored out a use case for its future product. It stays unknown whether or not the longer term supply of LG will change into accessible internationally. The Klaytn phone will solely be accessible on the home South Korean market.