Samsung Inks Confirms Agreement Along with Seoul Government for Blockchain Platform

Samsung Inks Confirms Agreement Along with Seoul Government for Blockchain Platform

Samsung SDS, a subsidiary of the South Korean tech giant Samsung Group, has believed to establish a blockchain-based platform targeted for the public sector .

As reported by the Korea Herald newspaper, Samsung SDS has signed a new agreement along with the Seoul Metropolitan Government which provides a backbone to create a new style of “information strategy” method – making use of blockchain in order to help administration around health, public safety as well as travel issues by the year 2022.

According to Won Pyo Hong, President of Samsung SDS:

“The blockchain technology can help us contribute to Seoul’s leap as a top-rated global city. Samsung SDS intends to contribute to the city becoming a world-class city by strengthening the transparency, fairness and civic convenience through its own blockchain technology and consulting capability.”

Seoul’s city government is currently planning to boost the transparency and also to enhance the user friendly design of the blockchain technology. But then, what makes it more remarkable is the fact that Samsung had this agreement following just 7 months after it revealed Nexledger, an enterprise digital financial platform hosted in the cloud – which focused on consortia blockchain projects.

The city government by now had already recognized a few sectors for possible blockchain uses including welfare, traffic, safety and other municipal matters. The objective here is to create the most out of blockchain and employ it as the primary component of a secure, immutable ledger which will document personal data of citizens.

This particular venture signifies Samsung’s first step into introducing the blockchain technology into the public sector – but absolutely not the last one.

 

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