Samsung and SK Telecom launches First 5G handset with Blockchain ID Wallet
CBW -External Analyst
Aug, 26 2020
The world’s first 5G handset equipped with blockchain-powered ID authentication has been introduced by the electronic giant Samsung in conjunction with major South Korean mobile carrier SK Telecom.
The device has been labeled as “Galaxy A Quantum” which indicates the quantum random number generation (QRNG) chip equipped in the device’s body.
Initially, the handset will be available for sale in South Korea at a launch price of 649,000 Korean won or USD 527.54 from May 22. SK Telecom has announced that the official launch is scheduled on May 22 but the handset will be available for presale from May 15.
A South Korean government-backed consortium including Samsung Electronics, SK Telecom, KEB Hana Bank, KT, Woori Bank, KOSCOM, LG Uplus, crypto exchange Binance Korea had been formed in July 2019, to develop a blockchain-based identification platform.
The consortium has worked to develop this device which has a unique ID authentication feature with blockchain-based quantum security called “Initial”. Data stored on this “Initial” will be encrypted and will not be accessible without a decryption key.
The featured function is about the blockchain-based wallet in which the user can store all his personal information, ID proofs, academic or official documents as well as insurance claim certificates and medical records. The decentralized identifier service will allow users to control their classified information without the intervention of centralized registries or certification authorities.The biometric peer to peer authentication along with blockchain-based data storage wallet will make the security of these devices hack-proof. The hackers won’t be able to access the data even if they seize the hardware system.
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CBW - External Analyst
False hours ago