Korea’s No.1 mobile service carrier SK Telecom puts its enterprise blockchain platform STON at the forefront of its foray into enterprise blockchain market.
At a conference held on July 22 in Seoul, Lee Kwang Won, vice president with SK Telecom had outlined SK Telecom’s STON platform business strategy.
STON is a hyper-ledger-based enterprise blockchain platform that is built around Graph Leaning BTF algorithm. The platform is not built to issue crypto-currencies, but is designed to offer a variety of services like decentralized ID, or DID, decentralized exchange, or DEX, smart contracts, smart wallets, and custody services.
Especially, SK Telecom will focus on DID services, which will be built on top of the STON to allow users to secure their ID, and then a mobile service carrier to authenticate the user IDs. The DID services can be used widely from point scoring to secure accesses.
Interoperability with other blockchain platforms is also what SK Telecom points out as a coore competency of the STON platform. SK Telecom said that it will support STON’s interoperability with public blockchain platforms like Bitcoin, Ethereum, and EOS.
SK Telecom plans to offer an Oracle service as a middleware, too, which will interconnect outside data with blockchain platforms. Users can use it as PaaS, according to SK Telecom.