Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

At Samsung's Real 2019 event in Seoul, Samsung SDS CEO Hong Won-pyo described the company's plans to add blockchain tech to its entrprise IT solution packages.

Samsung SDS, formerly known as Samsung Data Systems, is the company's IT consulting arm and it has been exploring blockchain tech for some time. The newly announced package of tools, called "Digital Transformation Framework," will feature a number of updates including:

Intelligent enterprise and next generation ERP / SCM / IPA, intelligent factory (manufacturing / logistics / plant intelligence), cloud security, and innovative technology platforms (AI / block chain / IoT)
CoinDesk - Unknown

"Blockchain is a technology that is used in all areas of business including finance, manufacturing, logistics, and distribution," said Hong Hyeong-jin, CEO of Samsung SDS' Nexledger project. "We are upgrading the company's blockchain platform at Nexledger to meet the demand."

Samsung has been working in the blockchain space for months and recently released Nexledger Universal which can use its own consensus algorithm - Samsung SDS Nexledger Consensus Algorithm (NCA) - or the Hyperledger Fabric and ethereum blockchains.

"As digital convergence is accelerating, convergence services are expanding across industries," said Hyeong-jin, "Blockchain technology is also being used in financials where payments are made through manufacturing, distribution, and distribution. We will upgrade Nexledger to meet customer needs."

Samsung image via Shutterstock

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.


Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.