South Korea’s SK Telecom to build its first Web3 wallet

SK Telecom has partnered with blockchain corporations AhnLab Blockchain Firm and Atomrigs Labs to produce and work a electronic wallet for cryptocurrency administration and World wide web3 accessibility, the South Korean telecommunications big declared on Monday. 

See similar write-up: South Korea’s next-major conglomerate to problem have cryptocurrency

Rapidly specifics

  • SK Telecom explained people of its wallet will be able to keep, transfer and acquire blockchain-issued tokens such as cryptocurrencies, non-fungible tokens (NFTs) and “soulbound tokens” (SBTs), which are long-lasting, non-transferable NFTs for verifiable identifications and certificates.
  • SK Telecom owns over 47% of all cellular communications customers in South Korea as of 2021, in accordance to Korea Details Society Improvement Institute (KISDI).
  • The telecommunications arm of conglomerate SK Team also operates its have metaverse, Ifland, which has a month to month regular user base all over 1.1 million individuals. 
  • SK Group’s facts know-how expenditure subsidiary, SK Sq., has been doing work on its have cryptocurrency that is supposed to be applied inside of SK’s Web3 network.

See associated article: Are we helpless versus attacks on blockchain bridges?