Korea Exchange Bank Files 46 applications for Blockchain Technology

Korea Exchange Bank Files 46 applications for Blockchain Technology


A South Korean foreign exchange bank has filed 46 patent applications for several blockchain-based technology systems, it has been reported. The applications were filed by Korea Exchange Bank (KEB) and were first reported on February 13 by news website ZDNet. According to the website, the patents cover the use of blockchain for several applications including methods and systems for purchasing overseas products, systems and methods for electronic contracts, and methods and systems for providing digital asset services using the technology. The website said some of the applied-for patents are for technology which is still in development. Additionally, it reported that KEB is also developing a blockchain-based internet banking service which allows for IOU’s to be issued. Banking institutions are among the types of companies which are leading the way in filing patents for blockchain technology.

Source: WIPR

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