Samsung SDS, the IT auxiliary of the South Korean electronics giant, disclosed it is establishing a blockchain-based platform for the public.
According to a report, Samsung SDS has inked a deal with the Seoul Metropolitan Government to develop its “information strategy” plan.
They will be utilizing blockchain to back administration across welfare, public safety and transportation affairs in Seoul by 2022.
Hong Won-pyo, the CEO of Samsung SDS said:
“Samsung SDS’ blockchain technology and consulting capabilities will contribute to Seoul’s leap as a top-rate global city.”
The city’s government is looking to bolster clarity and enhance convenience for the public using blockchain technology.
Such technology is being used more for online financial transactions.
This is because it permits digital information to be distributed but not copied.
Early this year, Samsung SDS developed its blockchain platform Nexledger by applying it to the affiliated Samsung Card.
Then last month, the company also tried the application of the platform to logistical systems by shipping companies.
One of those companies was Hyundai Marine Merchant.
Nexledger is an enterprise-grade blockchain platform hosted in the cloud.
It targets consortia blockchain efforts.
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