A blockchain company called Coinplug will take participation to develop blockchain solutions. A government-backed institution has selected the company for the development of the solutions. It is the fourth time in a year for the company to be selected in solutions development.
Hundreds of opportunists tried for the selection in one of the government-backed projects. The competition for the projects wasn’t easy.
In 2019, the government of South Korea supports a few sectors such as R&D, private, and public.
The company will develop a platform called self-sovereign identification platform in collaboration with the Electronics and Telecommunications Research Institute (ETRI). The platform will work independently, rather than depend upon a specific blockchain. It can only show the needed or requested information. Ensuring privacy protection and achieving true interoperability are goals of the platform. The company will also join hands with Korea Post, the Korea Financial Telecommunications & Clearing Institute, Koscom, BD (BlueDigm), and ICON in order to conduct research.
KISA (Korean Internet & Security Agency) has selected the blockchain company Coinplug for working on two projects. It has selected the company in collaboration with the Ministry of Science and ICT. The first project is related to the private sector. Coinplug will collaborate with the leading South Korean telecommunication company and six other companies in order to develop this project.
A platform will be developed through the public sector-based project. Renewable Energy Certificates (RECs) will be stored and managed through the platform. Information sharing in real-time on multilateral renewable energy supply will be enabled through the platform. Administrative procedures will be simplified. Relevant information access will be improved.
Silicon Valley-based engineers and Korea-based engineers set up Coinplug. Bitcoin exchange platforms [a Bitcoin exchange marketplace, electronic wallet service, and online POS (Point-of-Sales) service] are offered through the company. Facilitating direct transactions between Korean customers and Korean merchants with no complications and transaction fees was a purpose behind the development of these platforms. It contains apps. The apps are for different kinds of Bitcoin services, according to the official LinkedIn account of Coinplug.
The blockchain company Coinplug is recognized as a leader in blockchain patents across the world. It has experience and technology. The company can achieve the goals of the underlying projects due to the experience and technology of the company. Korea can be moved further in blockchain innovation, PR Newswire reported.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]