Samsung Targets Blockchain Consortia With Nexledger Tech
Tech giant Samsung today unveiled its Nexledger blockchain platform, alongside a technology it could soon use to serve industry consortia.
Global technology giant Samsung today unveiled its Nexledger blockchain platform, alongside a series of other announcements.
The solution is portrayed as an enterprise-grade blockchain platform hosted with cloud computing, in a Korean Herald report today. But details uncovered by CoinDesk indicate that Samsung may be targeting the increasingly crowded consortia business model with this latest release.
A trademark filed by Samsung for the Nexledger name describes the technology as a permissioned blockchain system created specifically to form a consortium.
The trademark describes Nexledger as:
The consortia model aims to optimize blockchain network effects by giving potential competitors access to the distributed ledger solution, while ensuring only data required for a transaction is visible by the counterparties.
Similar to other groups of banks and other corporations such as R3 and Hyperledger, Nexledger appears to be a broadly applicable solution.
Other functions described in the trademark filing include smart contracts for financial services, a loyalty point program and authentication for financial services.
Part of that authentication process could include biometric verification, the data of which would also be logged on the blockchain, according to a ZDNet report, also today.
Today's news is the latest development in the South Korean electronics giant’s ongoing blockchain efforts.
Samsung image via Shutterstock
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