Coinplug said Wednesday that it had won the science and ICT minister’s award for contributing to the development of blockchain technology through continuous investment in research and development and the promotion of the relevant industry.

Coinplug is a specialized blockchain company conducting research on next-generation platforms based on blockchain technology. The company holds the largest number of blockchain-related patents domestically as of September. Coinplug is taking part in such major blockchain consortiums as Hyperledger, R3, Enterprise Ethereum Alliance (EEA), SBI and ChinaLedger.

Coinplug has developed a multi-signature wallet technology adopting its own security scheme and has been suggesting a blockchain-based technology that could replace the current authentication system. For the first time in the world, the startup commercialized blockchain technology by building KB Kookmin Card’s private blockchain-based personal authentication service. It also teamed up with Hyundai Card to launch the blockchain-based Single Sign-On (SSO) Platform. Earlier this year, Coinplug released “Metadium,” a public blockchain-based identity project, on the basis of its own authentication techniques that have been accumulated so far.

Coinplug CEO Ryan Uhr said his company will do its utmost to offer a totally decentralized platform that would allow even general users to manage private information safely and conveniently.

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