The South Korean mobile carrier, KT (formerly Korea Telecom) has unveiled the world’s first blockchain-based commercial network, as reported by the Korean Herald. The telecom giant has implemented a blockchain layer on top of their ultra-speed nationwide commercial network to ensure maximum security and transparency for retail and business users. “Public blockchains have low processing speed and capacity, while private blockchains have low transparency. By applying blockchain onto our ultra-fast network, we have overcome both obstacles,” commented the head of the Blockchain Center at KT’s Institute of Convergence Technology, Seo Yeong-il. The mobile carrier expects to achieve the impressive number of 100 000 transactions per second by the end of 2019, while their current blockchain network capability is 2500 transactions per second. Furthermore, KT has already implemented this disruptive technology in their user identification process, eliminating the need for personal IDs and passwords. The company is also working closely with…

The auction for 100MHz of spectrum in the 3.5GHz bandwidth were sold to SK Telecom and KT, and on the other hand, LG Uplus received 80MHz of spectrum in that same bandwidth. The total amount that was raised by the auction was a little lower than anticipated with $3.6 billion. The Ministry of Science and Information and communication technology sold by auction 280MHz of spectrum in the 3.5GHz bandwidth and will later sale 2,400MHz in the 28GHz band. 5G networks will certainly reach South Korean as one of its first market to be launched on. The next few months and years will be important for SK telecom and KT. They want to make sure that South Korea will be “first for 5G” with an expected March 2019 as a deadline to start launching the news high speed network.