ICON (ICX) and SK Holdings C & C announced a strategic partnership focused on improving transactions in banks, insurance companies and other finance companies.
I in a MoU announced Signed by ICONLOOP and SK Holdings C & C, the two companies will collaborate for the joint development of blockchain business models in the financial industries. The Memorandum of Understanding was designed to invent a tailor-made service model for banks, insurance companies, brokers and other financial services companies.
With ICONLOOP's sophisticated blockchain products offering internal document management, coverage authentication services and insurance claim services, the two companies will work to introduce more blockchain solutions that improve financial services.
After realizing that it might be difficult to invent a sufficiently flexible tariff offer to meet the needs of large financial institutions, ICONLOOP with SK Holdings C & C will focus on designing solutions for smaller financial services companies and more agile
Companies say that it would certainly be possible to market a blockchain model that focuses primarily on car reimbursement claims or offer a tokenised version of reward points in miles.
It would be easy for the two companies to work on these recitals that the two companies have already been active in development
For example, ICONLOOP designed CHAIN ID which is jointly managed by the Korea Financial Investment Association to authenticate the ;identity.
Along the same lines, SK Holdings C & C has recently released an enterprise blockchain platform that supports identity verification, logistics management, digital document distribution and "Caas" (Coin as a Service) that makes it simple gift cards.
In development, JH Kim, CEO of ICONLOOP, said
"with the MOU, we expect ICONLOOP's blockchain platform to spread not only to national but global financial institutions based on SK Holdings C & D knowledge C of the financial industries and its excellent technical capabilities. "
In his own words, Woo-jin Kang, Head of the Financial Sector at SK Holdings C & C said:
" To rapidly expand the market and Blockchain ecosystem, it is important to protect various platform technologies and services. "  He added that
"This MOU will enhance our blockchain platform and service technology capabilities and help develop specialized blockchain service models for every aspect of the financial services industry, eventually creating social value."