Korea Exchange Bank Registers 46 Blockchain Banking Patents

Korea Exchange Bank Registers 46 Blockchain Banking Patents

Hana Financial Group subsidiary, Korea Exchange Bank (KEB Hana Bank), revealed filing 46 patents concerning the application of blockchain technology for its banking system

Banking establishments are finding more use cases for blockchain. The Bank of America is known for having over 50 blockchain-related patent applications during 2018. On 13 February, as CoinTelegraph reports, the KEB Hana Bank accomplished 46 requests for exclusive rights for its methods and systems meant for procuring products from abroad, for electronic contracts, and for delivering digital asset services using the technology.

According to the crypto news outlet, a number of the patents are already in development.

The Vice President of KEB Hana Bank, Han Jun-Seong, stated that the patent requests are merely for meshing blockchain with the banking system, ‘It is important to connect the new business models and the bank’s internal system through a blockchain.’

An online banking service built on the blockchain is also being prepared by the South Korean bank. This project will allow for IOU issuance.

KEB Hana Bank

Founded in 1967, the Korea Exchange Bank is among the top-five banks in South Korea. It is the largest forex bank in the country, offering a wide array of products catering to foreign exchange. In 2012, it was successfully acquired by Hana Financial Group for $3.9 bln (4.4 tln won).

Related news

XRP: Bitfi adds XRP after Bitrue listing; cites ‘mass adoption’ as key reason

The XRP community has been in the news multiple times recently due to its activity online and the sheer force of user interactions on social media platforms. The clamoring for mass adoption seems to have received a boost as Bitfi, a popular cryptocurrency wallet, announced that they would be adding XRP to its arsenal. The organization tweeted: “You asked, we listened. XRP is launching in Bitfi soon. And no, it is not like Bitcoin, poses no threat to Bitcoin, & serves a completely different purpose. Let’s keep an open mind & make the entire community stronger. Spread the love  #xrp #ripple” The news garnered a lot of positive reviews from the community and the crypto-verse, with many calling it a piece of “good news”. Post the listing of XRP, many users were also clamoring for the addition of Tezos. To this Bitfi replied: “Tezis is very high on the priority list.” Another Twitter user, Teodor Andrei, stated: “This is a good news, I HODL #XRP” Bitfi claimed that XRP addition was another step in the wave of mainstream adoption because the platform was mainly Bitcoin-friendly. XRP also got another morale boost when Bitrue added XRP base pairs against three cryptocurrencies. The three pairs would be DASH/XRP, BAT/XRP, and STORM/XRP. The exchange upgraded their wallet for XRP and resumed deposits and withdrawals of XRP on March 23, 2019. Bitrue also revealed its future plans for the coin as an XRP airdrop was announced, with a 7.3% interest program for XRP in the works. @plitern1, a Twitter user, commented: “Thank you for the continued roll-out of XRP base pairs! This is how the whole ecosystem of crypto starts to mature as a whole: The diminishing correlation to the Btc peg. It’s not only great for #XRP but for everyone that likes crypto & wants crypto as a whole to succeed.” The post XRP: Bitfi adds XRP after Bitrue listing; cites ‘mass adoption’ as key reason appeared first on AMBCrypto.
AMBCrypto

Bitcoin Dominance over 80%?! VeChain Bull Run, Tezos Update, EOS Adoption - Crypto News

Is Bitcoin's market dominance really greater than 80%? Will VeChain be on the next bull run? These are some questions Mattie will answer as well as give you the latest from EOS, Tezos, and Twitch. ----------------------------------------------------------------------------------- Connect with us on Social Media: Twitter: https://twitter.com/Altcoinbuzzio Facebook: https://www.facebook.com/altcoinbuzzio/ Telegram: https://t.me/joinchat/DLi8Ug8negQrbwYO-oqNRA ---------------------------------------------------------------------------------- Looking for the best cryptocurrency wallets? Check these out: BitLox: https://bit.ly/2rWQnHa CoolWallet S: https://bit.ly/2Liy5bv Trezor: https://bit.ly/2IXrZic Ledger Nano S: https://bit.ly/2IyE3al KeepKey: https://bit.ly/2x5TlhM Read about them here: https://bit.ly/2rTdthZ --------------------------------------------------------------------------------- References: VeChain (VET) Price Analysis : Will the Developing VeChain have the Potential to be on the Bull Trend in Future too? https://www.cryptonewsz.com/vechain-vet-price-analysis-will-the-developing-vechain-have-the-potential-to-be-on-the-bull-trend-in-future-too/12416/ Bitcoin [BTC] and Bitcoin Cash [BCH] no longer payment options on streaming site Twitch https://ambcrypto.com/bitcoin-btc-and-bitcoin-cash-bch-no-longer-payment-options-on-streaming-site-twitch/ Bitcoin’s (BTC) Market Dominance is over 80% https://www.cryptonewsz.com/new-research-reveals-that-bitcoins-btc-market-dominance-is-over-80/12399/ https://www.coinspeaker.com/bitcoin-price-analysis-btc-usd-consolidates-at-4050-the-breakout-is-imminent/ https://medium.com/@jpthor/bitcoins-market-dominance-a9693ff604bf Tezos Creates A Milestone By Forming Athens Protocol https://www.cryptonewsz.com/tezos-creates-a-milestone-by-forming-athens-protocol/12445/ The Key to EOS Adoption is Decentralizing RAM https://www.newsbtc.com/2019/03/25/the-key-to-eos-adoption-is-decentralizing-ram/ China’s Gov. Institute Releases Cryptocurrency Ranking: EOS First But Bitcoin (BTC) Not Even In Top 15 https://www.investinblockchain.com/china-gov-institute-cryptocurrency-ranking/ -------------------------------------------------------------------------------- DISCLAIMER The information discussed on the Altcoin Buzz YouTube, Altcoin Buzz Ladies YouTube, Altcoin Buzz Podcast or other social media channels including but not limited to Twitter, Telegram chats, Instagram, facebook, website etc is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the writer, reviewer or narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
Altcoin Buzz

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.