KT Corporation, South Korea’s largest telecom firm, has launched its blockchain-powered fifth-generation (5G) network brand, local news agency The Korea Times reports on April 16. Called “GiGA Chain,” the brand intends to boost the security of Internet-of-Things (IoT) devices and to protect them from cyberattacks, the report says. As a part of the new brand, KT developed GiGA Stealth technology that prevents hacking attacks by hiding the IP addresses of the connected devices. According to the report, the blockchain-enabled tech makes IP addresses virtually invisible to hackers. Lee Dong-myeon, president of the future platform business group at KT, said that …

Global blockchain applications in telecom will generate $1.37 billion in revenue by 2024, according to a press release by Research and Markets published on April 2. The report, dubbed “Global Blockchain in Telecom Market Forecast up to 2024,” Irish global market research store Research and Markets forecasts blockchain adoption in telecoms to grow at a compound annual growth rate (CAGR) of 77.9 percent during the forecast period. According to the report, blockchain growth in telecoms will be based on a number of key factors including rising security concerns, demand for fraud management, 5G implementation, as well as an increasing number …

Japanese multinational holding conglomerate SoftBank Corp. and American telecoms-focused blockchain firm TBCASoft are to lead a new blockchain-based digital identification study group under the canopy of the Carrier Blockchain Study Group (CBSG). The development was announced in a SoftBank press release on Feb. 26. As previously reported, CBSG — a global blockchain consortium of telecom carriers — was founded in September 2017, in a bid to push greater adoption of the technology in the industry. Alongside Softbank and TBCASoft, the organization counts Taiwan-based telecoms carrier Far EasTone and U.S.-based telecoms firm Sprint as founding members. Today’s announcement reveals that the …

South Korea's largest wireless carrier, SK Telecom (SKT), is partnering with the world’s fifth largest telecoms firm, Germany’s Deutsche Telekom, to develop a blockchain-based mobile identification solution. The news was reported in a press release from SKT on Feb. 21. A Memorandum of Understanding between the two firms is to be formalized during the Mobile World Congress (MWC) 2019, which kicks off on Feb. 25 in Barcelona, Spain. The collaboration will see SKT and Deutsche Telekom’s R&D unit, T-Labs, develop a commercialized, blockchain-powered mobile identity solution that can be used for applications such as access control, dealings and contracts. SKT …

A 21-year old American has been accused of stealing millions of dollars in crypto via a method known as SIM swapping, according to a press release shared with Cointelegraph Jan. 17. As reported, plaintiff Michael Terpin — a long-time blockchain and crypto investor — first filed a lawsuit against AT&T last August, accusing the firm of negligence that allegedly allowed the suspect to gain control over Terpin’s phone number and steal almost $24 million worth of crypto. SIM-swapping — also known as a “port-out scam” — involves the theft of a cell phone number in order to hijack online financial …

The Telecom Regulatory Authority of India (TRAI) has completed blockchain pilots with tech giant IBM to improve mobile data records. The trials were reported today, Dec. 12, by local English-language, Indian daily newspaper The Economic Times. The TRAI, India’s telecom regulator, along with major telecom providers, have completed tests with tech firms such as IBM in order to explore blockchain’s benefits in improving mobile network systems such as mobile number portability (MNP) and the Do Not Call Registry (DNC). Sriram Raghavan, vice president of IBM Research, claimed that the company has carried out proof-of-concepts (PoC) and pilots with “all the …

The satellite operator owned by South Korea’s largest telecommunications company KT Corporation is exploring blockchain, local newspaper EDaily reports Friday, Nov. 23. KT SAT, which is reportedly Korea’s sole satellite communication operator with 50 years of satellite expertise, has set up a working group to address the use of major emerging technologies, including blockchain, in order to expand the existing limits of the satellite industry. Announced yesterday, Nov. 22, at the company’s event “2018 KT SAT Partners Day,” the new initiative, dubbed KT SAT Eco Alliance, aims to bring together companies focusing on such tech fields as the Internet of …

Tokyo-headquartered tech conglomerate Hitachi and telecoms giant KDDI are trialing a retail coupon settlement system that combines blockchain with biometrics, Cointelegraph Japan reports today, July 26. This week, staff from the two firms are participating in an experimental demonstration at a KDDI store in Tokyo's Shinjuku district, as well as a local donut shop. The trial integrates Hitachi’s Hyperledger Fabric-powered platform with biometric verification technology and KDDI’s existing retail coupon system. Users will first register their biometric data and coupon credits at a KDDI store, and then proceed to settle their coupon transactions at the local donut shop, using only …

State-owned KT Corporation, South Korea’s largest telephone company, has announced the launch of its blockchain-powered commercial network. The firm has built a blockchain layer on top of its existing nationwide network in order to make it “more secure and transparent,” according to an article by The Korea Herald published Tuesday, July 24. The news outlet reports the head of KT Blockchain Center Seo Young-il as saying that blockchain tech can be used in telecommunications for secure and efficient data management. Seo added: “The whole point of applying blockchain to networks is to address security and transaction issues by making the …

China’s three major telecoms operators launched a blockchain research group, which has held its first meeting, local media outlet Fintech News reports July 23. The product of China Mobile, China Unicom and China Telecom, the group involves a total of twenty experts from eight companies including Huawei, Union Mobile, and Financial Technology (UMF). The aim, an unnamed China Mobile official said, is to “build a trustworthy blockchain application team to explore the blockchain area.” “It's a solution in terms of order management, contract management and creation of use cases,” the official added. The telecoms group will reportedly seek to increase …

A global blockchain consortium of telecom carriers has announced that six further major international telecoms firms are joining its ranks, CT Japan reports today, July 6. The consortium, dubbed ‘The Carrier Blockchain Study Group’ (CBSG) has also today unveiled the creation of a new blockchain working group that will focus on global remittance services. Launched in September 2017, CBSG counts as its founding members Japanese telecoms conglomerate Softbank, Taiwan-based telecoms carrier Far EasTone, and two U.S.-based firms - telecoms-focused blockchain firm TBCASoft and telecoms firm Sprint. Three further members have since joined, these being South Korean LG Uplus, UAE-based Etisalat …

A U.S. government telecoms agency reached out for feedback on blockchain policy June 4 as officials forecast “increasing focus” on the technology in the coming years. In an announcement, the National Telecommunications and Information Administration (NTIA), which is part of the U.S. Department of Commerce, said that it wanted stakeholders’ input in “shaping its international agenda.” Broadly pertaining to internet governance, that agenda is set to pay specific attention to “emerging technologies and trends” such as blockchain, as well as freedom of information online, privacy and security. “We expect that in the coming years, our focus will increasingly be on …