crypto content platform
Home arrow Article arrow Article Detail

Samsung and SK Telecom launches First 5G handset with Blockchain ID Wallet

Profile Image

Ingle Jayashree

CBW -External Analyst

INDIA

Aug, 26 2020

Aug, 26 2020

likes 0 | comments 0

Article Image

#Cryptoassetrating #CryptoBusinessWorld #Tokenizationassetplatform #CBW #digitalassets #cryptoassets #ratingagency #blockchain #crypto #cryptocurrency #cryptobusinessnews #cryptonews #breakingnews

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.

Blockchain Feature 

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.


Disclaimer

The information provided through the above Content is for informational purposes only. The Content is not intended to be, and does not, constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. We do not make any guarantee or other promise as to any results that may be obtained using our Content. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses.

 


likes 0 Likes | comments 0 Comments

Profile Image

Ingle Jayashree

CBW - External Analyst

INDIA

Comments
WHAT IS AN EXTERNAL ANALYST
banner
Article
Crypto Custodian Copper Plans to Bridge Gap Between Traditional Finance and DeFi

Crypto Custodian Copper is planning to associate institutions to the developing world of decentralized finance (DeFi) with a recently discovered product. On Friday, it was announced that the...;

Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.