Samsung Electronics today announced a partnership with SK Telecom, LG Uplus, KT, KEB Hana, Woori and Koscom to develop an ID authentication network based on blockchain.
The service of Samsung Electronics aims to provide an authentication solution that can allow users to verify their identity through a blockchain system, keeping under control the information provided and sharing it with third parties.
Samsung has stated that this system could arrive as a beta test by the end of this year, whereas it could enter the market in 2020, starting to be applied in the Korean university system and on the Koscom platform.
Further applications include recruitment, publication of various types of certificates, club membership, insurance and much more, which is why Samsung Electronics is looking for new partners to broaden the scope of action of this blockchain system.
Samsung and the blockchain
The South Korean company is certainly not new to the blockchain sector. In addition to developing a crypto wallet and dApps for the latest models of its Galaxy devices, Samsung has also started producing 3 and 5 nanometre chips for bitcoin mining.
In addition, in May 2019 Samsung partnered with Tetha Labs for a blockchain streaming platform.
