Naver Cloud and Lambda256 Join Hands to "Expand Blockchain Technology in the Public Sector"

[Asia Economy Reporter Bu Aeri] Naver Cloud announced on the 2nd that it has signed a Memorandum of Understanding (MOU) with Lambda256 to develop and expand 'Blockchain as a Service (BaaS)' in the public sector.

Lambda256 is the operator of 'Luniverse,' a blockchain development and operation platform.

A Naver Cloud official explained, "BaaS is 'Blockchain as a Service' that combines blockchain with cloud services, enabling the secure use of cloud-based blockchain systems," adding, "It has the advantage of significantly reducing the enormous costs involved in existing on-premise blockchain infrastructure."

With growing interest in blockchain and BaaS models in the public sector recently, it was decided to deploy Lambda256's 'Luniverse' on Naver Cloud Platform's public dedicated cloud.

Park Won-gi, CEO of Naver Cloud, said, "We will actively cooperate to enable many innovative public BaaS cases and private company projects with global competitiveness to emerge."

Park Jae-hyun, CEO of Lambda256, stated, "This collaboration has reduced the costs and time that governments and companies invest in building blockchain infrastructure," adding, "We hope that through public BaaS, many safer and more efficient blockchain-based services will be provided, spreading successful blockchain cases."