Is Samsung Interested in Blockchain Technology?

The major technology conglomerate, Samsung, may be shifting resources towards research and development of Blockchain-related solutions. 

According to media source The Korea Times, Samsung Group –the biggest technology conglomerate of South Korea– is looking to invest resources towards Blockchain solutions. Apparently, chief executives and high-level personnel of Samsung group attended a lecture on blockchain technology, by professor Roh Sang-kyu of Seoul National University.

Samsung has been investing significant resources towards Financial technology solutions, a consequent decision as the company released Samsung Pay a while ago. Samsung Pay is a smartphone application that enables users to link their credit, debit and gift cards to their cell phone. With a network of thousands of POS (point of sales) users are able to pay for services with their Samsung device.

Rumours that the Samsung Group was going to deploy a blockchain system sparked a while ago, however, a Samsung’s spokesman denied the reports, stating that “the lecture was aimed at informing group executives of the basic concepts of the technology.”

Related Post

South Korea is one of the leading countries regarding technology innovation and adoption, as a result, several Financial technology initiatives are flourishing in the region.

Samsung SDS (a branch of the Samsung conglomerate) recently made into the crypto news headlines as it announced its decision to invest in Blocko, a local company providing a blockchain-based development platform for businesses. Blocko recently unveiled CoinStack, a Blockchain-as-a-Service platform of Blocko to build decentralised services on Blockchain.

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

Eduardo Gómez

Eduardo Gómez is a Computer Science Major from Venezuela, a country with a loyal Bitcoin user base. He discovered Bitcoin in 2012 and now he use it to escape the triple-digit inflation that Venezuela suffers, he is focusing on developing a writing career, and he tries to keep up with the news in FinTech and Blockchain Technologies.

Share
Published by
Eduardo Gómez

Recent Posts

Best Altcoins to Invest in Today: Qubetics Sets the Stage for Blockchain’s Future as Bitcoin Hits $108K and Litecoin Soars

The cryptocurrency world has always been a hotbed of innovation, attracting both seasoned investors and…

1 hour ago

Dogecoin Millionaire Predicts This Undervalued Altcoin Could Match DOGE’s 2021 Gains

Dogecoin's 2021 rally was a historic one, turning ordinary investors into overnight millionaires. This magnificent…

2 hours ago

Qubetics Presale Skyrockets to $7.5M as XRP and Arbitrum Lead Best Altcoins for Exponential Returns

The crypto market is always evolving, with big names like Bitcoin and Ethereum leading the…

3 hours ago

Over 300K Users Actively Mine Crypto On BlockDAG’s X1 Miner App While BNB Bulls Eye $3K; What’s XRP’s Price Target?

The crypto market is ablaze with excitement as altcoins like XRP and BNB make major…

3 hours ago

Best Crypto Presale To Buy Now: Rollblock Delivers For Holders With New License, Record Sign Ups and 7000+ Games

Rollblock is quickly becoming the best crypto presale to buy, delivering unmatched value for its…

6 hours ago

Polkadot And Uniswap Gearing For Post-Christmas Jump As Rollblock Raises $7.4 Million in Presale

While Rollblock's continues its crypto presale, with its value increasing regularly, Polkadot (DOT) and Uniswap…

7 hours ago