Samsung is one of the biggest innovators and most well-known names in the tech industry. With all of the publicity that blockchain technology has gotten, it should come as no surprise that the tech company has added blockchain to their initiatives.
At the recent Samsung’s Real 2019 event, hosted in Seoul, the Samsung SDS CEO spoke on how the company plans to integrate blockchain technology as a part of the enterprise IT solution packages they hold.
Samsung SDS, which was known as Samsung Data Systems, is the consulting arm of the company, and they have been examining the use of blockchain technology for a while. It will be offering a new package of tools for developers, which is called “Digital Transformation Framework.” This collection will offer many updates to the company, including:
Hong Hyeong-jin, the CEO of the Nexledger project by Samsung SDS, pointed out that blockchain technology can be used in “all areas of business,” naming the worlds of finance, logistics, and others as examples. In order to keep up with “the demand” of the public, Hyeong-jin stated that Samsung SDS is working on upgrades to their current blockchain-based platform.
Nexledger Universal was released by Samsung recently, following months of work on blockchain tech. Nexledger Universal has a consensus algorithm called the Samsung SDS Nexledger Consensus Algorithm (NCA), though it is also possible to use the Hyperledger Fabric and Ethereum-based blockchains with it.
Hyeong-jin added that the convergence services are becoming more prevalent in multiple industries, which has stimulated the growth of digital convergence as well. With blockchain technology, Hyeong-jin added, “Blockchain technology is also being used in financials where payments are made through manufacturing, distribution, and distribution.”
New upgrades are still planned for Nexledger, allowing the algorithm to meet the needs of customers.
CEO of Nexledger, Hong Hyeong-jin, explains the reach of blockchain across multiple industries, and the importance of integrating it.
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