South Korean Satellite operator KT SAT gears up to explore blockchain
Blockchain technology is the new buzzword and it seems to have captured the imagination of people from all across the globe. While people are still sceptical about cryptocurrencies, Blockchain seems to be making its way in our daily lives. In one such move, KT Corporation, one of the largest telecommunication company in South Korea is exploring the plethora of opportunities offered by blockchain through its subsidiary KT SAT, as per reports by the local daily EDaily on Friday.
KT SAT which is South Korea’s sole satellite operator with a rich experience of over 50 years has set a group to study emerging and cutting-edge technologies including blockchain. This is an attempt by the company to expand its footprint in the satellite space.
At the KT SAT Partners Day, the company announced three joint growth programs to uncover new business in the fourth industrial revolution era and to carry out stable business based on close collaboration with partner companies.
KT SAT will lead the global market through the development of marine satellite communication solution platform and the launch of various other satellite security solutions.
At the event, KT SAT CEO Han Won-sik said, “In order to lead the domestic and global satellite market, we must continue to search for new services through new ICT convergence.We are actively supporting the Eco Alliance, We will look for business opportunities that can provide total solutions and platform services.”
Earlier this year in June, KT SAT Co., the satellite-operating subsidiary of KT Corp. announced that it was planning to expand its customer base in South Asia. “We are a global powerhouse in satellite communications, backed by our strong resources in technology and manpower as well as support from our parent KT Group, a leader in information communication technology (ICT),” Hahn said at the time.
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