South Korean-based Satellite Company Seek Ways To Integrate Blockchain With Space Tech

The South Korean satellite operator, KT SAT is seeking ways to utilize the Blockchain technology in its industry. This is to help the company achieve its aim of being a leader in the space market locally and globally. A local newspaper revealed this and many more in the country.

Modern Technologies to Proffer Total Solutions in Satellite Industry

KT SAT is a telecommunications company that is under the KT Corporation. This South Korea-based company has 50 years of experience when it comes to the design of satellites. In 2017, the company was able to launch two satellites, and as such, it is a reputable manufacturer in this ecosystem.
Han Won-sik, CEO of KT SAT mentioned that the company’s objective is to become a leader in its field. If the company continues to search for new services by converging ICT, this can be made possible. Therefore, they will search for business opportunities that can proffer total solutions.

KT SAT Collaborates With ICT Companies to Use Digital Technologies

Accordingly, the company will collaborate with Blockchain, Cyber Security, 5G, and IoT (Internet of Things) companies. They will look for ways to eliminate the limitations of this industry by using modern technologies. In regards to Blockchain, KT SAT revealed that they would utilize its capabilities.
Additionally, they have made plans to organize workshops, debates and technical seminars to address the use of Distributed Ledger Technology (DLT) as well as other IT fields. This will include password security and maritime satellite communication.

Blockchain Technology Gains More Usage

Consensys, a Blockchain company also has interest in using DLT for its space projects. Upon acquiring the American company, Planetary Resources formerly known as Arkyd Astronautics, Consensys promised to employ this technology. According to them, they plan on “democratizing and decentralizing the space” and also discover hidden human potentials.
Day by day, more industries believe in the capabilities of the Blockchain technology. Shangai Great Lion, a food and beverage company, for instance, plans on using the Blockchain in reducing the number of fake booze in circulation. It aims to monitor the supply chain as its products move along it.
The Swiss railway has also used DLT to aid in its management processes. In a recent report, the company developed an identity management system for its employees. This is a blockchain-based system that stores the qualification of workers which makes it accessible by other companies. Employees can also sign in and out of construction sites right from a mobile application.

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