SM Entertainment, home to phenomenal Korean pop star groups like Girl’s Generation, EXO, Red Velvet, etc., revealed to build its own cryptocurrency and blockchain in partnership with tech organization CTIA Labs.

Sang-Sik Joo, CT-AI Labs CEO, revealed the initiative6 at the developer conference of South Korean cryptocurrency exchange UpBit, ITChosun reported on September 4.

Joo noted that they are presently discussing the task with companions who will certainly develop the platform, however, the details can not be revealed yet.

SM Entertainment apparently expects the blockchain platform to link the physical and digital world. Joo discussed the advancement by specifying the feature that he sees blockchain having in the entertainment industry, saying:

“Blockchain from the entertainment standpoint is a decentralized entertainment entity.”

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