SK Telecom will insure your phone via Blockchain

SK Telecom will insure your phone via Blockchain

The South Korean wireless telecommunications operator is improving the process of insuring mobile phones and is launching the service based on blockchain technology.

Kim Seong-soo, SK Telecom’s Chief Commercial Officer said:

Blockchain technology will be used in various service areas in the future, such as a combination of insurance services and initials.

New service concerns the process of insurance compensation for damaged mobile phones. From now on, the company no longer requires the submission of paper documents or a visit to a repair center.

SK Telecom cooperates with Samsung Electronics, which takes care of service and with insurance companies, but the whole process will run on blockchain technology.

From now on, customers will be able to use the application, which will generate a corrective statement and confirmation of payment in the form of an electronic certificate. The insurance company thus receives the insurance report quickly and conveniently and can start the control process.

The company claims that the submitted electronic certificate is securely managed and set up to prevent forgery, which will be ensured by blockchain technology, informs ITBizNews.

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