SK Telecom plans to use blockchain technologies to provide asset management and payment service within this year, The Korea Herald reported, citing the South Korean telecom operator's blockchain unit head.
The company would also build a platform named "Token Exchange Hub," aiming to boost transparent financial deals by blockchain startups and small and medium-size enterprises.
Oh Se-hyeon, executive vice president of SKT's blockchain business unit, said, "The service will allow users to manage all bank accounts, credit cards, mileage points and other non-financial assets, including cryptocurrencies, in one basket, and enable transactions of the assets based on trust."
SKT will not issue virtual coins or engage in Initial coin offering or ICO, but would offer technological and financial consultations for startups.
Oh said that the blockchain technology will make innovatively different ways of transacting assets. The technology would help verify past transactions of one's assets, including real estates, diamonds and raw materials.
The company would also provide consistent supports for companies that will do businesses using blockchain technologies and help create a blockchain ecosystem.
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