A subsidiary of Samsung announced it has developed a way to use blockchain to certify a bank customer’s identity and thus streamline banking transactions.

Samsung SDS Co. said its BankSign certification platform will make it easier for people to carry out transactions among different banks in South Korea, Yonhap News reported. The platform allows users to conduct transactions on multiple banks’ mobile systems while requiring certification from only one bank. The certification can be valid for up to three years.

Samsung SDS first launched a division devoted to the development of the blockchain technology in 2015, and showcased its first business platform, Nexledger, in 2017, according to Yonhap. Read more here.

ThirtyK Staff
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