Corners and TrustVerse signed MOU for commercialization of innovative blockchain services in public sector

[COMPANY BRIEF]

Corners: a leading AIoT (AI + Intelligence of Things) Smart Safety Agent and the Digital Twin solutions provider

TrustVerse: an innovative digital financial infrastructure builder and a pioneer in the digital assetization service provider

Corners and TrustVerse (WealthTreeSG Pte. Ltd.) have agreed to sign the MOU for business cooperation. Corners and TrustVerse are pioneering blockchain tech convergence within the public sector to develop a solution for the next generation by applying the blockchain and smart ledger technology.

The representatives of the two companies started build their relationships since the start of 2008 Smart City Public Business in Korea.

Michael Kiook Jeoung — the CEO of TrustVerse, stated “While I was working for Cisco Systems, Tony Kim — the CEO of Corners, and I made a strong connection and strengthened our proven abilities while working together on a Smart+Connected Community business and other projects during the Cloud Infrastructure and AI era.”

The business agreement consists of the following key initiatives: ㆍ

ㆍDigital transformation of urban infrastructure maintenance system: data-based smart contracts, maintenance measures, history management verification, settlement processing automation

ㆍCo-development of Blockchain-based notarization and supervision system development and service related to the bidding-related verification process in the public procurement field

ㆍAI + Blockchain based process innovation for industrial complex management and multilateral service

ㆍProcess innovation for ship financing and IoT-based service implementation

The AIoT technology developed by Corners is seeing unparalleled growth in both public and private sectors, not only changing the way it protects people but also creating new growth opportunities for clients. Corners was recognized for its excellence in AI situation awareness-based gun incident response technology and won the CES Innovation Awards 2020 in the technology sector for a better world. CES2020 is the world’s largest IT exhibition. Corners is accelerating the pioneering of the North American market by establishing a local entity in Philadelphia, USA in August 2019. The solution is being applied to public institutions and schools in the eastern United States, such as New Jersey and Pennsylvania. In October, Corners also participated in a startup demonstration day co-hosted by FedTech and Korea Innovation Center (KIC) Washington, and won the grand prize.

TrustVerse is at the core and trusted digital asset-based service partner of R3. TrustVerse’s partner R3, has established itself as Enterprise Blockchain Technology Company and is recognized as the central blockchain protocol of Central Bank Digital Currency (CBDC) worldwide. Recently, TrustVerse has successfully built and completed the integration of “MasterKey”, KOSCOM and ISMS standard digital asset and wallet recovery service, based on R3 Corda in the financial cloud. TrustVerse is now preparing to launch a service called CANVAS, a next-generation e-commerce platform service using blockchain smart ledger. In addition, it has signed partnerships with a number of global companies such as Samsung Blockchain, and is the first to offer a digital wallet, “MarS” service, through the Samsung Blockchain Keystore.

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