Samsung SDS, an IT subsidiary of the South Korean electronics giant, has revealed it is to establish a blockchain-based platform for the public sector.
According to Korea Herald report, Samsung SDS has signed a deal with the Seoul Metropolitan Government to help develop its "information strategy" plan – using blockchain to support administration across welfare, public safety and transportation affairs in the capital by 2022.
Hong Won-pyo, CEO of Samsung SDS said:
"Samsung SDS' blockchain technology and consulting capabilities will contribute to Seoul's leap as a top-rate global city."
The city's government is seeking to enhance transparency and improve convenience for the public using blockchain technology, the article added.
The announcement follows seven months after Samsung unveiled Nexledger – an enterprise-grade blockchain platform hosted in the cloud – that targeted consortia blockchain efforts.
Samsung image via Shutterstock