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Brokerages begin trials of blockchain authentication service

PUBLISHED : July 11, 2017 - 15:27

UPDATED : July 11, 2017 - 15:27

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[THE INVESTOR] brokerage firms plan to provide a joint authentication service based on blockchain technology, an official said on July 11.

The pilot project -- which involves 25 securities firms and five blockchain companies -- is set to begin this month, said Lee Sang-gi, an official handling the issue at KOSCOM, the system manager of bourse operator Korea Exchange.

Lee said the brokerage firms plan to provide full-scale financial services based on blockchain around October, though the exact timing could change.

The system operator made the comment in a seminar on electronic finance organized by the Bank of Korea in central Seoul.

By Alex Lee and newswires (alexlee@heraldcorp.com)

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