Major Korean Financial Holding Company Wins Blockchain Patent for Improved Fintech Security

Leading South Korean financial holding company KB Financial Group Inc. has been awarded a patent for a blockchain-based fintech app security solution, South Korean economic news outlets The Digital Times reports Monday, Oct. 15.

Leading South Korean financial holding company KB Financial Group Inc. has been awarded a patent for a blockchain-based fintech app security solution, South Korean economic news outlets The Digital Times reports Monday, Oct. 15.

KB Financial is reported to have over $342 billion in assets under management and presides over multiple overseas and domestic subsidiaries, among them KB Kookmin Bank, the country’s largestbank and also the 60th largest bank globally as of 2017.

KB’s new patent focuses on a blockchain-based solution to improve an “essential” security program for fintech applications. The newly patented technology reportedly separates this security program from individual apps, meaning that safety will be enhanced across multiple apps without users needing to upgrade new versions of each app separately.

Click here to see more.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: