• Sun, 08 Dec 2019, 05:00 AM
  • All times are UTC
  • Edition:
Copy link
Increase text size
Decrease text size
Link copied

Samsung SDS integrates QEDIT’s private asset transfer solution with Nexledger blockchain

Image: Samsung SDS

Thu, 14 Nov 2019, 10:59 am UTC

Samsung SDS, an IT subsidiary of South Korean tech giant Samsung Group, has signed a Memorandum of Understanding (MOU) with blockchain privacy solutions startup QEDIT.

The partnership will see the companies integrating QEDIT’s private asset transfer solution in Samsung SDS’s Nexledger blockchain.

QEDIT’s private asset transfer solution enables digital payment with financial privacy among banks when assets are transferred. Utilizing on zero-knowledge proof (ZKP) cryptography, it allows parties employing enterprise blockchains to record and authenticate the transfer of assets on a shared ledger without revealing any underlying, confidential information.

This essentially means that while network members can verify the integrity of the proofs, they cannot see who sent what, or how much, to whom. QEDIT also offers tools for auditors to enable regulatory compliance.

“When we launched our enterprise solution for preserving the privacy of value transfers on the blockchain, our vision was to work alongside industry leaders in delivering a confidential and regulatory-compliant avenue for companies to transfer ownership of digital assets. Today’s announcement is a testament to that vision coming to fruition, and we are thrilled to partner with Samsung SDS,” Jonathan Rouach, CEO and Co-founder of QEDIT, said.

First announced in 2017, Nexledger is an enterprise blockchain platform that empowers organizations to take control of distributed transactions securely and conveniently. The platform has been implemented in various fields such as finance, manufacturing, logistics, as well as the public sector. In April, Samsung SDS announced the launch of Nexledger Universal, the next version of Nexledger.

Jeanie Hong, Senior Vice President, Leader of Blockchain Center at Samsung SDS, revealed that they conducted a series of testing and trials of QEDIT’s private asset transfer solution, adding that the solution’s performance has been exemplary.

“The QEDIT team has consistently demonstrated the ability to horizontally scale ZKP cryptography in a blockchain environment, and has shown a deep appreciation of the challenges confronting enterprises from a privacy perspective,” Hong added.

This announcement follows the successful deployment of QEDIT’s privacy-enhancing technology in Tradeshift and Deloitte platforms.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $7,496.23 (-1.00%)
  • Ethereum (ETH) $148.72 (-0.56%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $212.05 (-1.26%)
  • Litecoin (LTC) $45.58 (-0.59%)
  • Bitcoin (BTC) $7,496.23 (-1.00%)
Dec 6, 2019 (Friday)
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto Technicals: LTC/USD extends sideways, finds strong support at 42.45 (Trendline)
South Korean consortium to provide blockchain-based ID services via mobile app in 2020
Crypto Technicals: BCH/USD intraday bias turns slightly bullish, scope for test of 20-DMA (220.99)
Bitfury launches enterprise blockchain platform ‘Exonum Enterprise’
CULedger reveals an EFT payment solution for credit unions in collaboration with R3, Luxoft
Reserve Bank of India governor against the development of private digital currencies
Ripple asks court to dismiss XRP securities lawsuit in latest filing ahead of court meeting
Crypto Technicals: ETH/USD struggles to extend recovery, finds stiff resistance at 200H MA at 149.77
Blockchain firm Figure Technologies hits $1.2B valuation after closing $103M Series C round
Blockchain firm ChromaWay acquires Antler Interactive after setting up its gaming arm Chroma Studios
Galaxy Digital-backed Flipside Crypto hires Accenture Managing Director Matt Bridges as COO
Crypto Technicals: BTC/USD rangebound in the Asian session, struggles at 200H MA
Canadian mining firm goes belly up; Owes local, federal government hundreds of thousands
New crypto derivatives trading platform Phemex can manage 300,000 TPS, says core developer
Microsoft creates blockchain-based incentive scheme with Enjin to recognize active members of Azure community
Dec 5, 2019 (Thursday)
Dunamu’s crypto subsidiary DXM partners with Ledger to launch custody service for institutional clients
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.