The Korean computing giant Samsung has unveiled three new Blockchain products this week as the firm moves to become a “forerunner” in the market.
The firm’s Nexledger, formally released April 6, aims to provide an integrated solution to “corporations looking for a cost-efficient method of managing digital financial transactions and data exchange,” local Korean news resource The Investor reports.
It is a product of Samsung’s Internet technologies arm Samsung SDS, which has also developed a digital identification tool as well as a Blockchain-powered payments service.
Nexledger aims to service not just the financial sector but also periphery markets.
Song Kwang-woo, Samsung SDS vice president of finance consulting and distributed ledger technology, said in a press conference:
“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.”
Like many of its competitors such as IBM and Microsoft, the corporation has remained active in Blockchain technology experiments over the past few years.
Having invested in Blockchain startup Blocko last year, in October it began a test phase of Nexledger in which the platform was applied to its Samsung Card credit card company.
Around the same time, Samsung’s Artik cloud network and Blockchain-based IoT service provider riddle&code announced a joint venture called ‘tagtok,’ which enabled any physical object to become a Blockchain node.