Dear SymVerse supporters,

Today, we are proud to announce our 4th partner IBK Bank.

The World Economic Forum (WEF) announced that ‘80% of the world’s banks will adopt blockchain technology and 10% of global GDP will be achieved through blockchain by 2025 ‘.

The Cutter Consortium ranked ‘Banking and Finance’ as the number one business that will be most affected by blockchain technology.

In June, SymVerse signed an MOU with IBK bank, one of the top five banks in Korea, to develop DID services using blockchain.

IBK Bank aims to realize the simplification and integrity of the authentication process for the financial services of SMEs and small businesses by utilizing DID technology of blockchain with mainnet producer SymVerse.

Based on the DID (Decentralized Identifier) through the blockchain, the main cooperation point will be for SMEs and small businesses to improve complex contracts and settlement procedures, such as simplifying various authentication processes and real-time exchange of information with guaranteed integrity.

Blockchain is a powerful technology, but indeed that it’s still not up to the level that can reverse everything in traditional banking.

However, as the use-case starts to come out little by little, the day to enjoy financial life using blockchain will come soon.

We will take our first step with SymID the Blockchain.

Thank you.

SymVerse