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KT (formerly Korea Telecom) unveiled a whole batch of blockchain initiatives. The projects include a 5G blockchain network called GiGA Chain, a blockchain to secure IoT devices, a Blockchain as a Service offering and a local currency platform.
GiGA Stealth addresses the security challenges of IoT devices such as home cameras. Hackers connect to these devices using the camera’s internet address or IP address. Giga Stealth hides the address. Instead, if you want to access a camera or some other device the connection is via the Giga Stealth blockchain which uses a smart contract to issue a one-time mutual authentication access token.
The company plans to initially use GiGA Stealth to address the B2B IoT security market with its eye on connected cars and smart factories. It works with existing systems with plans to enable it on the 5G network.
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