South Korea’s TTA Seeks Applicants for Blockchain Reliability Verification Support

Minseung Kang

Summary

South Korea’s Ministry of Science and ICT and TTA said they are launching a reliability verification support program to strengthen the technological competitiveness of domestic blockchain companies.
Through this recruitment round, they will select about six companies and provide blockchain reliability testing and consulting services free of charge.
TTA said support provided to about 60 companies has helped them demonstrate performance and security, commercialize services and expand business operations at home and abroad.

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*Photo: Telecommunications Technology Association*

South Korea’s Ministry of Science and ICT and the Telecommunications Technology Association, or TTA, are moving ahead with a support program to strengthen the technological competitiveness of domestic blockchain companies through reliability verification.

TTA said on April 13 that it, together with the ministry, is accepting applications through May 1 from companies seeking blockchain reliability testing and consulting support.

Since 2019, TTA has built a blockchain reliability verification framework with government support and provided testing and consulting services for companies with blockchain-based products and services. About 60 companies have received that support so far. TTA said the program has helped participants objectively demonstrate performance and security, commercialize services, form business partnerships and expand in domestic and overseas markets.

In the latest round, TTA plans to select about six companies and provide blockchain reliability verification services free of charge. The support will consist of testing and consulting tailored to each company’s stage of technology development.

The testing service will comprehensively assess completed blockchain products in areas including platform and service performance, blockchain fault tolerance, account and key management, smart contract and source-code security vulnerabilities, including SBOM and secure coding, and data integrity. TTA will issue a test report, allowing companies to objectively demonstrate the technical reliability of their products.

The consulting service will provide customized development guidance reflecting the characteristics of services still under development. It will also suggest ways to improve performance and security to support more complete service development.

Companies seeking to apply must submit an application form and related documents by email. The results will be announced individually after an evaluation process. Further details are available in the notices section of TTA’s website.

TTA Chairman Sohn Seung-hyun said blockchain technology is spreading across industries including finance, logistics and the public sector, making service reliability a key challenge for the sector’s growth. He added that TTA would actively support the program so a more systematic approach to strengthening reliability can help bolster the competitiveness of South Korea’s blockchain industry.