ASTON Alliance aim to develop electronic document ecosystem

ASTON, one of Korean Blockchain Platforms, announced on July 19 that it has formed ‘ASTON Alliance’ to develop blockchain network optimized in electronic document

And signed an agreement to expand the boundaries of all industries requiring mutual trust to a decentralized electronic document ecosystem.

As one of promising blockchain projects in Korea, ‘ASTON’ has successfully ended ICO, specializing in the blockchain technology, X-CHINA.

Centered in ASTON platform, electronic document, security, communications related companies plan to cooperate for the global market.

Handysoft and six other companies form a consortium to enhance global organizational capabilities by restructuring their specialized business areas.

Members of this consortium include three listed companies (‘Handysoft’, ‘Hancom Secure’, ‘Sejongtelecom’), Korean 1st Certified e-Document Authority ‘KT NET(Korea Trade Network)’, Blockchain Platform Provider ‘Xblocksystems’, BaaSid [BaaSid International Lab(S) Pre Ltd(Taiwan)], and P.R.O [P.R.O Co.,Ltd(Japan)].

Given its involvement with the blockchain technology, consortium participating companies agree joint development of the blockchain network, optimized in electronic document in order to trigger blockchain-based electronic document market as well as the global electronic document storage business.

Moreover, these companies will propose a system in which transaction details are stored in a distributed way at the systems of all participants of the network.

SeungKi Kim, who leads the consortium, commented on the move said, “A demand for blockchain-based global business is expected to be explosively increased.

We have built consortium to collaborate as partnership companies have recognized the necessity for blockchain-based distribution, logistics, authentication system and storage system in the global market.”

Blockchain-based electronic document market is expected to grow explosively. Korea Blockchain Association estimated Korean Electronic Document Market to be worth 5 billion KRW in 2020.

South Korea’s government has been active in the growth of 4th Industrial Revolution as well as Blockchain Technology by revising electronic document related law.