Blockchain, Featured

Why Dunamu and KT Corporation Launch Blockchain Service

Dunamu, the financial and mobile technology company, is reportedly launching a blockchain service platform called Luniverse. Many IT companies or start-ups fail to develop blockchain-based services on their own due to insufficient resources. The main purpose behind the development of Luniverse is to help them.

The platform provides cloud-based solutions. Building, hosting and maintaining a blockchain can be done through the solutions. The upgraded service will provide a higher level of security. It will not only provide security but also an automated scaling function. The blockchain’s size can be adjusted on the basis of data quantity saved inside. The automated scaling function will be used for adjustments.

Lambda256, the blockchain research center of Dunamu, will handle the operations of Luniverse. This center began to develop Luniverse in May 2018. Whereas it released blockchain software in September 2018. The goal of this center is to help Luniverse in expanding the use of the blockchain in South Korea.

Lambda256 will launch a blockchain app market and a blockchain solution market in 2019. The main purpose of the app market is to help the general public in accessing this service. Whereas the main purpose of the blockchain solution market is to help clients in purchasing the solutions.

The CEO and former research head of Lambda256 Park Jae-hyun said in a press conference, “In the past, a lot of companies built their own blockchain, but an alternative is outsourcing the establishment of a blockchain in the form of a service offered on cloud systems. The press conference held on March 19, 2019, on Tuesday in Gangnam District, Southern Seoul, JoongAng Daily reported.

KT Corporation is a Telecom company planning to launch a BaaS platform in March 2019. The platform will support a cloud-based blockchain service development environment. Implementing a smart contract is possible without using specialized blockchain developers and this will be a service of the company, iNews24 reported. The director of the KT blockchain BizCenter Seo Young-il said, “KT BaaS platform will lower the barriers to entering the blockchain and build an ecosystem that can grow with partners. We will further develop the blockbusting industry in Korea.”

[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. ]

Shabnam Dhar is a Copy Editor for OWLT Market.

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