Samsung and other companies set up new alliance to build blockchain-based identification system

The South Korean companies are coming up together to build a blockchain-based identification platform, The Korea Times reported July 15.

List of companies include Samsung Electronics, SK Telecom, KT, LG UPlus, KEB Hana Bank, Woori Bank, and KOSCOM.

The blockchain network can also be used to certify the authenticity of documents, such as SK Telecom, KT and LG Uplus, which are intended to be used in the recruitment and review process of the company.

Samsung Electronic will bring its enterprise mobile security solution, Samsung Knox, to the initiative, which will help ensure the safe and secure management of the stored data.

In the future, the alliance plans to introduce more companies into its blockchain network, expanding its applications to hospitals and insurance services, and even membership services for certain leisure activities such as resorts.

At present, Korean technology companies have begun experimenting with blockchain technology in various industries. For example, Samsung introduced a cryptocurrency wallet on the Galaxy S10 earlier this year.

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