SK C&C joins hands with ConsenSys to cooperate to develop a new blockchain business model. The SI, or system integration subsidiary of SK Group, or big conglomerate said today that it has signed a memorandum of understanding, or MOU with ConsenSys to create and develop an enterprise blockchain ecosystem.
Established by Joseph Lubin, co-founder of Ethereum, the New York, U.S.-based blockchain technology trendsetter is a global leader in the Ethereum-based blockchain services and application developments markets.
Under the terms of the agreement, both of the two companies will combine their respective technology expertise, knowhow and services to create a blackchain ecosystem for enterprises to help domestic companies to develop blockchain ‘killer app’ services with ease and speed.
On the way toward that goal, the two companies will jointly conduct a feasibility study on their respective blockchain platforms, technologies and services to lay the groundwork for developing a new business model for enterprise and corporate blockchain markets.
Referred to as ‘smart contract’ in the industry jargon, the enterprise blockchain is a sort of service that allows authorized users alone to access it. Once played out in the field, it promises to create a variety of yet untried and unheard of blockchain services.
Both of the two companies are now even discussing the possibility of implementing ConsenSys’ main services and platforms into SK C&C’s ‘Cloud Z’ platform. The implementation will enable companies to quickly develop blockchain services.
Fostering talented engineers is another joint agenda for the two companies, as SK C&C’s tech training center can work together with ConsenSys’ education program “ConsenSys Academy” to launch a education and training curriculum for Ethereum trainers.
SK C&C’s boasts of a variety of innovative blockchain solutions and services, including Hyperledger-based blockchain mobile digital ID authentication service ‘IDaaS’, a blockchain-based logistics services for domestic and foreign shiplines, and a blockchain voting system.
Taking advantage of Ripple’s blockchain technology, the company had also recently developed ‘CaaS’ or ‘Coin as a Service’ platform, a system that can enable parties concerned to issue regional or community coins and notes, blockchain event coins and gift vouchers.
ConsenSys is rolling out ‘AWS’ and ‘Kaleido’, an enterprise blockchain platform. The New York-based blockchain titan is fielding out Ethereum transaction infrastructure platform ‘Infura’ and ID authentication platform ‘uPort’.
On top of that, the blockchain giant joins the Chinese construction project of a smart city nicknamed ‘New City of Xi Jinping’ as a provider of blockchain technology
Lee Gi Yeol, senior vice-president with SK C&C said, “I believe that this MOU would not only expand a blockchain service ecosystem, but also help improve our SK C&C’s blockchain technology. The cooperation will pave the way for creating a blockchain service development hub that will enable domestic companies to easily and quickly develop blockchain application services.”
Joseph Lubin, CEO with ConsenSys said, “I am very happy to join hands with SK C&C to do blockchain businesses jointly. ConsenSys will work further to build a variety of end-to-end enterprise Ethereum blockchain solutions around the Pegasys solution.”
Written by Kang Jin Kyu firstname.lastname@example.org
Edited by Jason Kang email@example.com