South Korean Security Businesses Launch Blockchain Solutions

Jun 05, 2018

Many South Korean security businesses are planning to launch their blockchain solutions such as solutions that prevent forgery and falsification of electronic documents based on blockchain technology, systems that verify reception and transmission of emails, and cold wallets.
According to industry, security businesses such as MarkAny, Jiran Security, and Penta Security are launching their blockchain products. It will be interesting to see whether they will be able to stabilize their products within blockchain markets.
MarkAny is currently developing ‘e-Certchain’ that is applied to distribution of electronic documents. This solution applies blockchain technology to application, issue, and distribution of certificates and it also creates a credible online system that issues certificates.
Electronic certificates are applied with 2D barcodes so that verification process of forgery and falsification is made possible after considering output status depending on requests from submitters. Electronic certificates include personal information and are implemented through private blockchain. MarkAny was selected by Ministry of Science and ICT last month as a blockchain business that utilizes distribution of medical data multimedia contents and it will develop relevant technologies for the next 3 years.
“We are currently working on R&D of e-Certchain after creating a ‘blockchain team’, which is directly under the control of our CEO, during the second half of last year.” said a representative for MarkAny. “We are planning to launch ‘e-Certchain’ by end of this year and established a business strategy that supports change in distribution environment of electronic certificates and others for our customers.”

South Korean Security Businesses Launch Blockchain Solutions

Jiran Security is working on development of a solution that verifies reception and transmission of emails based on blockchain technology after launching its cryptocurrency cold wallet called ‘D’CENT’. It also finished registering relevant patents. This solution verifies records of email information and rights through personalized key values. It is used to enhance data security (confirms whether data is authentic and verifies information of email transactions) and to respond to compliances (acts as digital evidence during a legal battle and verifies integrity).
“We finished registering patents related to our technology that verifies reception and transmission of emails and we are planning to finish developing first alpha version of D’CENT by end of this year.” said a representative for Jiran Security. “We are going to create successful ‘message chain’ after combining D’CENT with email blockchain and contents security technologies.”
Penta Security is the most active when it comes to entering blockchain market. It is currently developing a blockchain-based platform ‘AMO’, which trades vehicle data, and it is also pushing for ICO (Initial Coin Offering) though its corporate in Singapore to issue ‘AMO Coin’ that will be distributed through ‘AMO’.
“Reason why security businesses are trying to enter blockchain industry is because blockchain industry has high growth rate and high security elements.”
Blockchain makes every transaction public to its participants rather than storing records in a central center. It shares and compares data to prevent any possibility of falsification and forgery. Because every record is encrypted and is made public to members, it is possible to secure transparent transactions and integrity with data.
“Blockchain will provide high security for security businesses whenever they try to combine current technologies or develop new security solutions.” said a representative for a security business. “Blockchain will become a new driving force for security field.”
Staff Reporter Jung, Youngil | jung01@etnews.com

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