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The Korean Mobile Telecommunication Service Corporation (TRC) has announced that it has reached an agreement with AhnLab Blockchain and Atomrig Lab to launch a digital asset wallet service on July 11.
Crypto Wallet has the potential to store a wide range of digital assets, including crypto currencies, NFTs and other blockchain tokens, according to Korea Jungang Daily.
In particular, the digital wallet technology developed by Seoul Start Atomrigs Lab will serve as the basis for the wallet service, and the product development and sustainability of the service will be led by SK Telecom and Ahnblock Blockchain.
The wallet displays secure MPC encryption
AhnLab blockchain subsidiary was created in April in Pangio, Giongi under the name AhnLab Blockchain.
Atomrigs Lab was founded in 2018 and focuses on services related to blockchain technology. The new digital wallet service uses secure MPC encryption technology developed by Atomrigs Lab.
“The online environment is evolving into the Web 3 era, where the user owns and manages all the information,” said Oh Se-Hyon, who heads the SC Telecom digital asset division.
He added:
“This web 3 digital portfolio joint project will be a key starting point for SK Telecom’s response to the Web 3 market.”
Web3 Wallet
Third-generation Internet technology, often called Web3 or Web 3.0, allows users to identify and control their data. Web 1.0 emphasizes one-way communication from the online space to the user, but Web 2.0 emphasizes two-way communication through the central Internet platform.
“Private wallets are hindering the expansion of the blockchain ecosystem because it is safer and more difficult to use at the same time,” said Cheng Wo-Hyion, chief executive of Atomrigs Lab.
According to Kang Suk-Kyon, CEO of Ahlab Blockchain, the company’s essential technologies will be included in the project in collaboration with the ABC Wallet, which is currently under development, as well as multi-platform support.
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