Samsung ot Launch Blockchain Based BankSign

BankSign platform developed jointly with the Korean Banking Federation
28 August 2018   678

Samsung SDS, a subsidiary of the Korean technical giant, introduced a certification platform for Korean banks called BankSign, based on blockchain technology. This is reported by the Yonhap.

It is reported that the BankSign platform developed jointly with the Korean Banking Federation and  is designed to provide interaction between the mobile systems of various banks. Users will be able to carry out transactions in different mobile applications, but verification will only be required in one program. As usual, passwords, fingerprints or a pattern are used to verify users.

BankSign is the first application of the much-anticipated blockchain technology on banking services. The company will continue to expand its digital transformation business, which will bolster competitiveness of banks and financial institutions.
 

Samsung SDS

According to representatives of Samsung, the security of the system is ensured by combining banking systems in a single data exchange network. Certification data can remain valid for three years. Technology should increase the safety of users. 

Samsung SDS was founded in 2015. The release of the first business platform called Nexledger was held in 2017. At the moment, the IT department of the South Korean technological giant is developing a digital financial platform Nexfinance based on distributed registry technology.

Wirex to Issue 26 Stablecoins on XLM Blockchain

Wirex chosen Stellar blockchain because company considers it safe, easily scalable and relatively inexpensive to use
25 April 2019   88

British online banking platform Wirex has announced the listing for the XLM token, as well as the release of 26 stablecoins on the Stellar blockchain, pegged to fiat currencies, including USD, EUR, GBP, HKD and SGD.

Prior to this, Wirex card supported eight digital assets and ten fiat currencies.

In addition, Wirex added the ability to instantly convert steablecoins to each other at over-the-counter rates.

As the company expects, new assets will be used for money transfers, issue and redemption of tokens, as well as for payments for services.

The choice of Wirex fell on the Stellar blockchain, as the company considers it safe, easily scalable and relatively inexpensive to use.

Last year Wirex became the third company in a row that received a license to provide services in the UK and Europe.