SK Telecom Partners with Shinhan Bank to Develop Financial Services Using 5G MEC & Quantum Cryptography
(AJU.Daily) SK Telecom’s quantum cryptography technology will be applied to Shinhan Bank’s mobile app to establish a quantum random number-based security system. SK Telecom partnering overall with Shinhan Bank, a major commercial leader in South Korea, to develop future financial services using 5G mobile edge computing (MEC), which enables cloud computing capabilities and an IT service environment at the edge of cellular networks.
This follows SKT’s agreement to apply its 5G quantum cryptography technology to IM Bank, the mobile banking app of DGB Daegu Bank, in September. It would be the first quantum-powered service in South Korea’s banking industry.
In May, Samsung’s 5G smartphone, Galaxy A Quantum, was installed with SKT’s quantum random number generator (QRNG) in cooperation with ID Quantique (IDQ), a Swiss company that provides quantum key distribution systems and quantum-safe network encryption. The QRNG chipset allows smartphone holders to use selected services safely by generating true random numbers that cannot be hacked.