Samsung Releases Its Blockchain-based Digital Platform

South Korea takes another step toward becoming the leading country to adopt Blockchain technology and cryptocurrency. Samsung launches a new blockchain-based cloud computing platform called Nexledger.

Samsung SDS, the internet technology solutions unit of South Korea’s Samsung Group, announced the release of its new platform on Tuesday, reported KoreaHerald. Nexledger is a B2B blockchain-based platform for enterprises that aims to appeal to corporations looking for a cost-efficient method of managing digital financial transactions and data exchange. 

Song Kwang-woo, vice president of finance, consulting, and distributed ledger technology at Samsung SDS said: 

“In developing our blockchain platform, we thought hard about how to merge our strengths and know-how from our system integration service expertise with the advantages of blockchain technology.” 

Moreover, together with Blocko, a local blockchain company, Samsung has already built a Blockchain-based membership authentication service and plans to launch a blockchain digital point swap system for Samsung Card members in the future. 

“We believe blockchain technology will have the greatest impact among businesses that involve a large number of data exchanges,” said Song Kwang-woo. 

To date, South Korea has one of the world’s fastest internet connectivity rates, which is a very powerful incentive for the development of the use of FinTech, Blockchain and Bitcoin in the country.