Union Mobile – ranked 4th on the list of top mobile facilitator in South Korea – has reportedly introduced its self-developed blockchain project – ELYNET.
ELYNET – which was publicly rolled out on September 11 – is a project with a primary goal is to apply blockchain tech in the telecommunications field to amp up its efficiency of the single carrier for telecom service used by customers.
ELYNET will reportedly help eliminate any excessive fee for data roaming and contracts that can disturb users’ experience. Seyong Ro – CEO of Union Mobile – disclosed that the project will be supported by a token.
“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”. He further added.
Previously, news broke that LG – a top-tier, South Korea-based electronics company – is currently conducting research with blockchain experts to introduce a development, worthy of an opponent to Samsung’s blockchain-powered phone – Klaytn.
LG has conducted numerous meetings with DApps developers in the nation, and has reached a final use case for how its project going to be.