KT Opens Internal BaaS Platform to Compete with AWS and Azure
Blockchain as a service with easy development, stability, and scalability.
Launching in March after a pilot program targeting companies interested in blockchain adoption.

KT announced on the 10th that it has become the first domestic company to complete the application of a cloud-based Blockchain as a Service (BaaS) platform to its internal services.

While the blockchain market is expanding globally, the technology, cost, and time required to implement blockchain still pose significant barriers for many companies. In response, KT developed a cloud-based Baas platform to provide an environment where domestic companies can easily develop blockchain services.
KT BaaS provides a function that automatically configures blockchain nodes in uCloud without having to build a separate server. Companies seeking to implement blockchain can reduce server construction costs and shorten the development period for blockchain implementation through KT BaaS.

KT BaaS provides KT's differentiated Smart Contract API to enable easy implementation and utilization of smart contracts, a key feature of blockchain, even without blockchain specialized developers. It also supports various control functions to ensure stable operation of blockchain services.

A smart contract is a program that records contractual terms on a blockchain and automatically executes the contract when the conditions are met. It can be used for a variety of contracts, including financial transactions.

With the development of this BaaS platform, KT is ready to compete in the blockchain BaaS market with major overseas IT companies such as Microsoft (Azure), IBM, and Amazon (AWS), and to this end, it has first opened the BaaS platform within the KT Group.

After conducting a pilot project in February, the official service will be launched in March for external companies seeking blockchain development.

Seo Young-il, executive director of KT Blockchain Business Center, said, “We have solved the problems of companies struggling to apply blockchain by implementing a BaaS platform equipped with KT Blockchain’s differentiated capabilities.” He added, “We hope that this development of KT BaaS will become an opportunity for blockchain to become popular and for Korea to rise as the number one country in the global blockchain industry.”