The crypto wallet will have the capacity to store several forms of digital assets, including cryptocurrencies, non-fungible tokens (NFTs), and other blockchain-powered tokens that may be used for identity verification, Korea JoongAng Daily reports. In particular, the digital wallet tech developed by the Seoul-based start-up Atomrigs Lab will serve as the foundation for the wallet service while the service’s product development and ongoing operation will be managed by SK Telecom and AhnLab Blockchain Company respectively.
The wallet will feature secure MPC encryption
AhnLab’s blockchain subsidiary was created in April in Pangyo, Gyeonggi, under the name AhnLab Blockchain Company. Atomrigs Lab was founded in 2018 and focuses on services relating to blockchain technology. The new digital wallet service will use the Secure MPC encryption technology developed by Atomrigs Lab. He added:
Web3 wallet
The third generation of internet technology, often known as Web3 or Web 3.0, is distinguished by the fact that users retain control of their data. Web 1.0 emphasized one-way communication from the online space to the user, but Web 2.0 emphasized two-way communication via a centralized internet platform. AhnLab Blockchain Company’s chief executive officer, Kang Suk-kyoon, said that the company’s essential technologies, such as multi-platform support for ABC Wallet, which is presently under development, and security threat response mechanism, would be included in the collaborative project.
