SK Group, a South Korean technological holding, has signed a Memorandum of Understanding (MoU) with ConsenSys, a US-based software company. Together, they intend to build a blockchain business hub.

As reported, the MoU aims to develop an enterprise blockchain business model using smart contracts. Moreover, the companies have also agreed to provide Ethereum blockchain technology education to Korean developers through ConsenSys Academy and Tech Training Center of SK Holdings, the IT solutions arm of SK Group.

The partners have stated that they will start exploring new business models to broaden their enterprise blockchain business. They aspire to achieve the goal by jointly analyzing and enhancing their blockchain platforms, technologies and services.