Home / Coin Payment / Too Early to Apply Blockchain Technology to Financial Industry

Too Early to Apply Blockchain Technology to Financial Industry

The Bank of Korea concluded that it is still a way to apply blockchain technology to financial field.

The Bank of Korea carried out a mock test for fund transfer between financial institutions and fund transfer between individuals last year. At the end, it ended that blockchain processing speed and restoration of transactions need to be improved.

Too Early to Apply Blockchain Technology to Financial Industry

According to industries, the Bank of Korea concluded that the blockchain-based small settlement was not very different from that of the large fund.

The Bank of Korea carried out mock tests for 3 months since September of 2018. It applied blockchain technology to security and restoration, and efficiency of blockchain technology.

BLOCKO, which was selected as the service company, created as a process design, participant certification method, wallet management method, mobile application (customer)

BLOCKO had also carried out pilot settlements on the Bank of Korea's Korea Development Institute through a testbed that was established within the Bank of Korea's inner network.

BLOCKO submitted its final reports to the Bank of Korea at the end of December. It was heard that efficiency (transaction processing speed) and restoration were still insufficient just like 'blockchain-based large settlement mock test'.

"We had approached these mock tests academically." "After receiving final reports, the result from the small settlement mock test" was not much different from that of the large settlement mock test. "

The Bank of Korea announced from the R3CEV's financial platform called the 'Corda' on financial network. It announced that although Corda is excellent in system expandability, it lacks efficiency and restoration.

Results from small settlement will be announced through separate reports as The Bank of Korea

Blockchain industry has high expectations that blockchain technology will be used by financial industry in the near future. On top of this, there are rumors that from banks are meeting with cryptocurrency-based simple payment providers.

Said to be a representative for the financial industry. "We have to be conservative in applying new technology since the financial industry can collapse once trust is broken."

Staff Reporter Ham, Jihyun | goham@etnews.com

<! –

LG 는 라이벌 삼성 을 제치고, 거대한 OLED TV 를 판매 하는 첫번째 가 기업 이 될것이다.

이나 아이폰 6 이나 갤럭시 노트 엣지 같은 제품 을 보면 배터리 가 하나 다. 처리 속도 가 빨라지고 휘어진 디스플레이 를 탑재 한 고성능 스마트 폰 이 쏟아진다. 하지만 정작 배터리 는 하루 이상 쓰기 어렵다. 먼 거리 를 가지 못하고 충전 하는 데 에도 시간 이 오래 걸리는 이유로 전기차 가 대중화 되지 못 하듯 스마트 폰 배터리 기술 발전 도 더디기 만 하다. 외출 할 때 배터리 여분 을 하나 더 챙겨야 안심 이다. 보조 배터리 가 쏟아지는 이유 도 여기 에 있다.

->
                        
                        <! –

양종석 기자 jsyang@etnews.com

->
                        
                        <! –

TAGS:

  • lg oled tv,
  • lg oled tv,
  • lg oled tv,
  • lg oled tv,
  • lg oled tv

->

Copyright © The Electronic Times Corp. & The Electronic Times Internet Corp. All Rights Reserved.

Source link