Digital platform SK Planet has confirmed it will be buying MOCA tokens from the open market as it continues its deployment of Moca Network’s AIR technology for its 28 million users.
It hasn’t revealed how many tokens it will require and over what period, but the MOCA price is up 15% in the past week.
Part of the South Korean teleco giant SK Telecom, SK Planet is the platform business arm of SK Telecom, running various services including 11street, OK Cashbag and Syrup.
It’s planning to use Moca’s AIR Account and AIR Identity systems across its entire ecosystem to enable its 95,000 merchants to verify users’ private data with their explicit permission, ensuring that ownership of their data remains under the control of the user.
Moca Network uses zero-knowledge proofs so that merchants can verify their users fulfil legal and other requirements without the users’ data being shared to the merchants. One example could be that merchants could verify their users are legal South Korean citizens without the user’s specific citizenship data being shared.
SK Planet’s adoption of the tech will also enable users to earn rewards and utilize its wallet features to manage their rewards, including via token swaps, staking, and other functionalities.
In addition, SK Telecom’s adoption of Moca Network will have implications beyond its own services as user data generated on SK Planet’s platform will be directly verifiable by other partners using AIR Kit, making this private data interoperable across multiple ecosystems.
“Partnering with Moca Network enables SK Planet to bring decentralized identity and privacy-preserving verification to our millions of customers and merchant partners,” commented SK Planet’s chief business officer Kyosu Kim.
“By leveraging AIR Kit and AIR Wallet, we can expand the benefits of OKI Club and reward our users with MOCA Coin while giving them greater control over their data. This is a strategic step forward in aligning with global standards for user privacy and digital identity.”
Moca Network’s project lead Kenneth Shek added, “By joining Moca Network’s identity ecosystem and enabling merchant-side verification with user consent, SK Planet is demonstrating how large consumer platforms can adopt decentralized identity to deliver both privacy and utility. This is a powerful validation of our mission to build a global interoperable identity layer powered by MOCA.”
Other companies using Moca Network’s ID stack include Sony’s Soneium blockchain, real-world asset blockchain Plume and Turkish gaming marketplace Oyunfor.
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