Asia Blockchain Updates 2019.12.03 Banks are into “Private Keys”, SoftBank developed SBC crypto Card, Users use “Klip” in Kakao Talk soon
Shinhan Banks Developed Private Key Management System for Solar Energy,
SoftBank Unveiled SBC Crypto pegging Debit Card in Japan,
Klaytn will Integrate “Klip” to Kakao Talk Messenger App
Shinhan Bank Launched the Blockchain Pilot Project, “Private Key Management System(PKMS)”
One of the top major banks in Korea, Shinhan Bank is piloting its first blockchain ‘PKMS’ to verify the information of the solar photovoltaic power system plants.
According to the announcement by Shinhan Bank on Dec 2, In order to record Solar Photovoltaic Power Information on the Blockchain, Shinhan Bank applied ‘PKMS ( Private Key Management System )’ to the renewable energy data platform “Redi”. The system is jointly developed by Shinhan Bank, Kakao’s blockchain technology affiliate Ground X, and Blockchain Technology Research Institute Hexlant.
By applying this system, it is possible to verify the Solar power information generated by the power plant, record it in real-time on the blockchain, and also can check the power amount. In addition, the private key management system can be used to prevent hacking and loss of private keys when signing transactions on the blockchain, and users also can recover keys safely in case of an emergency.
Shinhan Bank said that based on the results of the pilot application, it is considering further commercialization of the private key management system in various fields. Co-developer Hexlant will apply for the blockchain fintech project to the Financial Services Commission and the Regulatory Sandbox. One of the Shinhan Bank officials said, “It is meaningful that various Blockchain tech companies and reliable major banks have tried new business-to-business (B2B) models that build solutions and apply to other industries.”
Soft Bank Launched “SBC wallet card”, integrating Crypto Wallet
One of the largest Japan software companies, Softbank has launched SBC Wallet Card, which integrates cryptocurrency wallets. It combines hot and cold wallet functions for digital asset storage with existing debit cards. Customers are available to use the card at 10,000 shops in Japan and SBC plans to expand its use to the US, Korea, and Dubai in the future.
According to the PR Newswire report, the SBC Wallet Card was officially released on November 27 (local time), SBC has co-developed with Dynamics, a credit card electronic payment solution company. Softbank said that the level of security became much higher by applying a blockchain-based system. It is reported that the card Integrates digital wallet functionality in addition to the existing traditional debit card functions. The Internet of Things (IoT) chip has been inserted into the card to easily connect with smart home appliances.
Both Hot and Cold Wallet are included in SBC card so that users can download the mobile app and use various functions such as fiat money, digital currency, and electronic payment service, also debit card service as well.
If users select the Wi-Fi module, the card will be switched into Hot Wallet. In order to realize all of these functions at once, the card is equipped with the world’s only advanced battery technology, the implied battery is as thin as paper and can be used for three years non-stop.
The user interface is also very intuitive. Users can quickly switch between fiat and digital currency service through the buttons on the left and right sides. Card balance and other information will be displayed in real-time.
Cryptocurrency media, The Block mentioned, “It shows the Greenlight to the industry (Softbank enters the crypto card business), considering that Softbank is the second Japanese company after Toyota.”
Softbank Group, led by Chairman Sohn Jung, is a multinational corporation headquartered in Tokyo, Japan, and it is the largest shareholder of Arm Holdings, Fortress Investment, and Sprint. It also holds shares in Alibaba and Uber. Softbank, which is at the edge of the 4th Industrial Revolution, has entered the crypto card business as a pioneer.
Softbank’s influence has already solved the biggest obstacle to the popularization of crypto cards.
Kakao Klaytn will Integrate “Klip”, a Crypto Wallet into Kakao Talk Messenger App
Kakao’s blockchain platform ‘Klaytn ‘, developed by Ground X has a great ambition to lead the industry in the first half of 2020 with the release of ‘Klip’, a cryptocurrency wallet.
Han Jae-sun, CEO of GroundX, a Klaytn developer, said at the Blockchain Technology Forum ‘TXGX (Tech Forum by Ground X) 2019’ held in Seoul, “We have achieved 500,000 transactions per day without friction, we can be a platform that surpasses Ethereum or EOS by the next year 2020.”
CEO, Mr. Han also told media that the growth of Klip will be explosive as one of AniPang and Dragonfly games through KakaoTalk’s game platform. “We also want to achieve the success of AniPang and Dragon Flight on the blockchain,” he added.
He also officially mentioned that Klaytn is now expanding the governance council members around major Asian companies, and they expect to expand the number of council members to 50 or 100 till next year.
GroundX continues to expand its partners. There are over 30 “Governance Council Partners” who can operate Klayton Node. In addition to this, Kakao’s affiliates include major conglomerates such as LG, SK, Hanwha, and GS, major game companies such as Netmarble, Pearl Abyss, Wemade, and Neofly, and healthcare companies such as Celltrion.