First Bank of Korea Joins Kakao’s Blockchain Council

Last Updated: June 30, 2021

Shinhan Bank, one of Koreas most well-established banks, has joined the Governance Council of a blockchain that has been developed by Kakao, a messaging company. The bank joined forces to be part of the
Jason

Jason

Hi! I'm the editor at EarthWeb. I have a deep interest in technology and business. I also enjoy testing products out. Contact me to be featured!
First Bank of Korea Joins Kakao’s Blockchain Council
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Shinhan Bank, one of Koreas most well-established banks, has joined the Governance Council of a blockchain that has been developed by Kakao, a messaging company. The bank joined forces to be part of the blockchain side of things.

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Existing council members include Worldpay and LG Electronics. The market value of the combined council members was set at $96 trillion in 2020. The bank was Korea’s first bank in 1897, and has already developed a number of different financial services based around their blockchain. The bank signed a deal three ways between Hexlant and GroundX to expand the bank’s management system of private keys.

It is also trying to work on a central bank digital currency.

Written by Jason

Hi! I’m the editor at EarthWeb. I have a deep interest in technology and business. I also enjoy testing products out. Contact me to be featured!

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