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Korea’s Oldest Bank is building a Blockchain-Based Security System

Monday, 08 19 2019, Category: Banking, Country: Asia
South Korea’s oldest bank, Shinhan Bank, partnered with two other companies to develop a blockchain-based security solution.

According to a report published on Aug. 14 by local news outlet TheKoreaTimes, Shinhan Bank signed a memorandum of understanding with financial technology startup Ground X and blockchain developer Hexlant to develop a blockchain security system.

Per the report, the deal will see the institution’s partners jointly develop a Private Key Management System for its banking services.

Ground X is the blockchain unit of South Korean messaging giant Kakao, and is reportedly expected to provide a blockchain-based platform. Hexlant develops the infrastructure to feature an anti-cracking program for the platform.

Source: Forum Vite
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