South Korean telecommunications giant SK Telecom has signed a joint agreement with other blockchain firms aimed at developing a digital wallet that can support cryptocurrencies, nonfungible tokens and digital credentials.<\/p>\n
In a Monday announcement, SK Telecom said its blockchain arm would be collaborating with AhnLab Blockchain Company and Atomix Lab to develop and operate a Web3 wallet. According to the firm, it will be using Soulbound Tokens, or SBTs, to verify credentials seemingly including memberships and certifications in addition to being capable of storing digital assets.<\/p>\n
Atomix Lab will use secure multiparty computation encryption for the blockchain wallet, after which time the firm will stay on for technical support, while SK Telecom and AhnLab Blockchain Company \u201ctake over the operation.\u201d According to Atomix Lab CEO Woo-Hyun Jung, the \u201cbiggest obstacle to the expansion of the blockchain ecosystem is the personal wallet,\u201d and the project plans to balance security and convenience.<\/p>\n
As one of the largest mobile operators in South Korea, SK Telecom introducing a user-friendly crypto wallet could have implications for adoption in the country. As of December 2021, roughly 30 million people in South Korea have mobile subscriptions through SK Telecom \u2014 roughly 58% of the total population. In 2020, the company also launched a wallet for blockchain-powered digital certificate storage aimed at addressing \u200b\u200bcertifications amid the pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"