NEAR Protocol

<p>SK C&amp;C, the information and communications technology affiliate of the South Korean conglomerate SK Group, last week <a href="https://newsis.com/view/?id&#61;NISX20230921_0002458600&amp;cID&#61;10406&amp;pID&#61;13100" rel="noopener noreferrer nofollow">announced</a> its strategic partnership with the NEAR Foundation, the organization supporting the NEAR Protocol blockchain, aiming to broaden its Web3 business initiatives.</p><p>The partnership ceremony was held earlier this month at a hotel in Seoul and saw attendance from Choi Cheol, the Head of Web3 and Convergence Group at SK C&amp;C, along with Marieke Flament, the CEO of the NEAR Foundation.</p><p>NEAR Protocol is a layer 1 blockchain that enables enterprises to build private shards that can be connected to the public blockchain.</p><h2 id="header-0">Blockchain research and global marketing</h2><p>Through this agreement, the two companies will establish a mutual support system to strengthen their business networks, cooperate on research and business projects related to blockchain technology, spanning all industries, and execute global marketing strategies to elevate their brands and accelerate the Web3 ecosystem.</p><h2 id="header-1">SK C&amp;C’s ChainZ and NEAR Protocol</h2><p>As part of this initiative, the two sides seek to link SK C&amp;C’s own blockchain platform, ChainZ, with NEAR Protocol to develop a Web3 market that supports both public and private blockchains. Focusing on the financial infrastructure sector, SK C&amp;C aims to inject momentum into its ventures in domains like the sharing economy market — a flourishing ground for second-hand item trading platforms — and in the gaming, content, and commerce sectors, where the issuance of non-fungible tokens (NFTs) is expected.</p><h2 id="header-2">Tailored corporate solutions</h2><p>They will delve into the development of Web3 solutions tailored for corporations, concentrating on areas like supply chain management and enterprise resource planning (ERP). ChainZ’s Key Recovery System will play a pivotal role in enhancing security and simplifying account management, while NEAR Protocol will support high transaction speeds, scalability, and interoperability between multichains.</p><p>For example, assets like inventories, orders, loans, and bills of lading can be marked with tokens based on NEAR Protocol. These can then be verified at each stage of an entire trade process through digital signatures recorded on ChainZ.</p><p>Moreover, SK C&amp;C will leverage the NEAR Foundation’s global network as a stepping stone for global market entry, while NEAR Protocol will utilize the business network of SK C&amp;C to garner customers in the Korean market. This effort to expand NEAR’s presence in South Korea also aligns with its <a href="https://medium.com/&#64;coinness.gl/near-foundation-and-dongdaemun-district-of-seoul-forge-mou-to-boost-web3-industry-779c2e14a13e" rel="noopener noreferrer nofollow">joining hands with Dongdaemun</a>, an administrative district in Seoul, earlier this month.</p><p>SK C&amp;C’s Choi Cheol underscored the efforts underway across various industrial sectors, including public, finance, manufacturing, and commerce, to develop Web3 services driven by public blockchains. He stated that beginning with NEAR Protocol, SK C&amp;C would intensify collaborations with different public blockchain projects to broaden the ecosystem for Web3 services.</p>

SK C&C and NEAR Foundation Forge Strategic Partnership to Fuel Web3 Growth

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