Samsung soon to launch Samsung Coin – Anonymous Reports

Samsung soon to launch Samsung Coin – Anonymous Reports

April 26, 2019 Editor's Desk

According to some anonymous source report Samsung, the South Korean electronics giant may develop a public-private hybrid complete blockchain with its own cryptocurrency Samsung Coin. This news is not confirmed officially, but it comes at a time where Samsung is getting into blockchain and cryptocurrency sphere.

This project mostly would be undertaken by the dedicated blockchain division of the company known as Nextledger. The blockchain mainnet may be developed on Ethereum(ETH).

The company gave a new signal about its belief in the long-term profitability of the emerging technology as it participated in a $4 million investment round in smartphone-based wallet app ZenGO.

Nextledger, the blockchain arm of Samsung offers infrastructure and services that can be deployed across all industries, including the finance sector, Nexledger is a Blockchain platform built for enterprise, which empowers an organization to take control of distributed transaction securely and conveniently.Their blockchain technology is not limited only fulfilling the financial task, but can also be used for various business tasks such as authentication or B2B transactions.

Tech Mahindra has shown a keen interest in blockchain technology and has started training its employees for the same. Samsung SDS has teamed up with Indian IT giant Tech Mahindra so that Samsung can enter overseas blockchain market with its Nextledger blockchain platform, as per the report shared by Korean Times. SDS, the system integration arm of the Korean tech firm, Samsung has plans to expand the use of Nextledger Blockchain Platform in India, the United States, and Europe.

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