Korea’s Union Mobile Launches ‘ELYNET’ Blockchain Project

By September 11, 2019 Ethereum
Click here to view original web page at aithority.com
Korea's Union Mobile Launches 'ELYNET' Blockchain Project

Union Mobile Provides a Data Service Model Without Roaming and USIM Powered by Blockchain Technology

NY Union Mobile, which worked to become the fourth mobile carrier in Korea, has officially announced the launch of their blockchain project ‘ELYNET’. The project is designed to provide differentiated mobile services using blockchain technology while leaving behind regulatory hurdles for approval as a mobile network operator.

Read More: Atlantis Hard Fork Launch on Ethereum Classic Mainnet to Expand Functionality and Improve Compatibility With Ethereum

As a decentralized telecom project, ELYNET uses blockchain technology to make communication more efficient for users who currently rely on a single carrier for telecom service. Through ELYNET, users can freely use data communication services without the drawbacks of existing wireless carriers such as roaming fees and contracts. The ELYNET project effectively eliminates the need for expensive data centers for wireless communications, allowing users to enjoy superior telecom quality at dramatically lower costs.

Read More: New Blockchain-Based Social Network and Digital Sharing Economic Ecosystem Alfa Launched on Indiegogo

The ELYNET team plans to use the application of distributed ledger technology to further expand the user base of parent company Union Mobile. “Most of the members of our project team have built their careers at existing mobile carriers, including LG U+, and we have received support from talented people who have worked at KPMG and Samsung for the design of the token economy”, said Union Mobile’s CEO Seyong Ro. “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.”

Read More: From Billboards to Big Data: The Future of Advertising Amid the Rise of Emerging Tech

NY Union Mobile, which worked to become the fourth mobile carrier in Korea, has […]

Leave a Reply