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.”
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.