South Korea’s fourth-largest mobile service provider Union Mobile has released its newest blockchain project to enable customers to use data services without paying for extra roaming fees or sign contracts.
According to a report by Cointelegraph, Union Mobile announced that its blockchain project called ELYNET will allow users who are signed onto a single carrier to gain better telecom services, as the distributed ledger technology will let users gain easier access to roaming services.
Union Mobile’s CEO Seyong Ro added that ELYNET will also be launched with its own token called ELyX.
“This will help us to realize our business. When users connect to the communications network through ELYNET’s own operating system, they can purchase data through ELyX, a token used in ELYNET’s ecosystem, and freely enjoy mobile data communication anywhere in the world without roaming fees or contracts,” said Ro.
Another South Korean company, LG, is also developing a blockchain smartphone to challenge Samsung’s Klaytn blockchain smartphone. Cointelegraph reported that the consumer electronics firm is working with blockchain developers to discuss a use case for its product.
However, there have been no further developments announced as to when the blockchain smartphone will be launched or if it will be available in other countries. Samsung’s Klaytn smartphone is only on offer within the South Korean market.
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