The South Korean telecommunications company, SK Telecom, announced a blockchain-based document submission process for mobile phone insurance. This new protocol will eliminate the company’s current outdated paper processing methods.
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Previously, users had to visit a technical repair office to receive insurance benefits for their damaged equipment, according to Itbiznews. Successful visits concluded with a claim receipt, which then had to be emailed or faxed to the insurance company.
Cooperation with Samsung
SK Telecom’s new system will allow the telecommunications giant’s customers to bypass this archaic process, and now do it completely online in a fast and secure manner.
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The announcement states that replacing paperwork with electronic certificates will help the company to handle inquiries sent to insurance companies in a much more secure manner. They also hope that this new method will help prevent document forgery.
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SK Telecom expects mobile phone service centers and insurance Bitcoin Rejoin companies to reduce costs and improve processing speed, allowing them to resolve customer complaints in a much more efficient manner.
The company says Samsung’s Galaxy series will be the first phone model to support this new service.
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Kim Seong-soo, sales manager of SK Telecom, said that the adoption of Blockchain technology will expand to „several areas of service in the future.
On May 26, Samsung announced a turnkey standalone security solution that secures crypto-currency transactions on smartphones and tablets.
As Cointelegraph previously reported, South Korea’s NongHyup (NH) Bank will introduce a mobile identification system based on Blockchain, developed by a technology consortium between companies such as Samsung Electronics and LG Uplus.