Gruut Korea has strategically partnered with Hana Financial Group to establish a comprehensive cooperative system for joint research and development of blockchain-based new businesses and services to secure a foothold in the domestic and overseas financial markets.
Gruut Korea is a developer of the blockchain main net ‘Gruut Korea Network’ (https://gruut.net/), which provides decentralized P2P open ledger service. Gruut represents the grassroots movement in a variety of businesses and focuses on providing a new business environment in the real economy through a network that operates smoothly without relying on third-party trust organizations (TTPs) and distributes rewards to participants fairly, and at a very low-costs.
Through this strategic partnership, Hana Financial TI’s know-how in utilizing data is combined with Gruut Korea’s blockchain main network to introduce advanced services to the market.
It is predicted that both companies will provide optimized solutions and infrastructures for data market places that can be a win-win situation not only in South Korea but also in foreign FinTech markets.
“The cooperation with Hana Financial Group is significant in terms of business model development, which is homework of the blockchain industry,” said Oh Byung-yup, CEO of Gruut Korea. “We signed strategic business agreements with various companies such as financial sector, medical services, and contents including Hana Financial Group, and we will introduce services one by one within this year.”
