Samsung ot Launch Blockchain Based BankSign

BankSign platform developed jointly with the Korean Banking Federation
28 August 2018   882

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.

Cobalt & Lithium Supplies to be Tracked With DLT

The platform will be created by the Everledger together with Circulor using Hyperledger Fabric
26 March 2020   844

Everledger, a British startup, has partnered with Circulor to develop a platform based on the Hyperledger Fabric blockchain to track supply chains of cobalt and lithium.

Everledger specializes in using blockchain to combat counterfeiting of precious stones, in particular diamonds. The company’s management said it intends to expand its business using blockchain to control the supply of rare minerals used in the production of batteries.

Well-known carmaker Mercedes Benz is already using Circulor technology to track its supply of cobalt and its carbon footprint. Circulor and Everledger share a similar concept - with the help of the blockchain they control the observance of social and environmental standards in mining. Therefore, startups decided to develop a joint product.

Everledger co-founder Leanne Kemp and Circulor CEO Doug Johnson-Poensgen said their solution will work on the Hyperledger Fabric blockchain. The possibility of interacting with IBM is also being discussed.

Poensgen added that the platform will be used not only to track cobalt production in the Democratic Republic of Congo, but in different regions of the world. For example, lithium mining in the Atacama desert leads to water pollution, so the solution on the blockchain is aimed at preventing environmental disasters.