Woori Bank to make a block chain digital currency
[ Cho Eun Gook ceg4204 @ ] | 2017-08-17 10:06:35
Lee Kyoung-joon , CEO of Daily Intelligence (from left) and Cho Jae-hyun, Woori Bank's Digital Finance Group Manager, Woori Bank - Daily Intelligence - The Loop, Block Chain, Kim Jong-hyuk, the CEO of The Loop, are posing for a commemorative photo. Photo by Woori Bank
Woori Bank is expected to complete the block chain-based digital currency test and commercialize it with universities and local governments by the end of the year. Woori Bank signed a business agreement with the Daily Intelligence, The Loop, for cooperation in the block chain and digital money business on June 16 at its headquarters in Seoul, Korea.
Daily Intelligence and The Loop was selected as a block chain company by the Ministry of Science and Technology last April and is now in the process of issuing U-Coin, a simple payment and remittance system, for private universities and nearby merchants. .
The agreement has been made to cooperate with the three companies in the block chain and digital money commercialization. Each company will work together to validate the block chain technology internally, and will support each other for its own digital currency issue, use and recharge.
Woori Bank, which created the Digital Strategy Department in April, is developing business models and services that combine Big Data with new technologies such as artificial intelligence, Internet of objects and block chains. The digital money is also a block-chain technology, prepaid electronic payment method. Woori Bank is planning to work with these partners to verify the compatibility of technical achievements by the end of the year. In addition, the company will conduct digital money issuance, charging, settlement and remittance tests for internal employees.
Meanwhile, Woori Bank will commercialize digital currencies as Woori Bank`s trading college if it is judged to be worthwhile, and will also be able to use it as a means of payment in the global network such as local governments and overseas branches and corporations.
Woori bank representative said, "We are planning to test the issuance, use and charging of the digital money based on the block chain until the end of the year. We plan to gradually expand the financial services using the technology in the future. Currently, there is no institutional mechanism for virtual money in WFG. Digital money is important even in order to preempt and internalize related technologies such as block chains."
By Cho Eun Gook ceg4204 @
