Breaking Stories

Bitcoin Daily: SK Telecom Debuts Blockchain Document Wallet; Israeli Blockchain Accelerator Collider Labs Crowdsources $1M

SK Telecom has indicated that it will provide its inaugural eWallet to keep electronic certificates and manage them, which is fueled by the blockchain and has the go-ahead from the South Korean government, Cointelegraph reported.

The South Korean telecommunications company’s wallet works with the Ministry of Public Administration and Security’s Government24 eCertificate effort that encourages systems for making digital certificates and sending them out in the country.

Representations of immigration certificates in addition to resident registration cards are some of the documents encompassed by SK’s electronic public certificates, which were once provided by hardcopy and manually signed.

While 13 kinds of certificates will work with the wallet in the first phase, SK Telecom intends to have it function with 100 kinds of certificates.

News recently surfaced that one million people in the country have traded their tangible drivers license for a version fueled by the blockchain harnessed with the PASS smartphone mobile program.

A SK Telecom official, Oh Se-hyun, said in the report that blockchain is a pivotal technology in a culture that is “rapidly changing due to the need for non-face-to-face solutions where we need innovation in the process of submitting and processing certificates centered on paper documents and manual work.”

The founders of Collider Ventures have rolled out a novel accelerator called Collider Labs, and $1 million has been invested in getting it started, Globes reported. The funds came from a multitude of investors, including founding partners Avishay Ovadia, Adam Benayoun and Ofer Rotem.

“Our model is different from that of most accelerators,” Ovadia, who manages the accelerator, told Globes. When someone who starts a company gets into an accelerator, they typically finds that they are supposed to work by following a strict blueprint and time frame set from above.

With Collider Labs, however, the accelerator personalizes a customized blueprint for every person starting a company and doesn’t flinch from modifying the blueprint as needed.

The $1 million landed for the new accelerator is set aside for infusions into early-stage firms in investments ranging from $25,000 to $75,000 for each firm.

What is your reaction?

In Love
Not Sure

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *