• Wed, 21 Aug 2019, 12:49 AM
  • All times are UTC
  • Edition:
Copy link
Increase text size
Decrease text size
Link copied

Samsung betting on blockchain with new priorities and solutions


Fri, 21 Jun 2019, 05:24 am UTC

Samsung is a giant force in the smartphone industry and it is currently pushing hard into the field of blockchain. The South Korean company recently announced plans to prioritize integrating blockchain into its 10-year plans and also unveiled solutions to worries pertaining to the nascent technology. Regarding that last part, it is basically applying a novel approach that it calls the “3C solution.”

Jay Y. Lee, the Vice Chairman of Samsung Electronics Co. recently outlined what the company has planned over the next decade, Bloomberg reports. On top of looking towards 6G, even though 5G has not even been widely implemented yet, the tech giant has blockchain as a major priority. This is the company’s way of looking towards the future instead of getting stuck in past glories.

“We should challenge ourselves with a resolution to make new foundations, moving beyond the scope of protecting our past achievements,” he said.

It makes sense for the South Korean giant to invest heavily in blockchain and some of its executives have already expressed interest in collaborating with startups in the emerging market. Its Nexledger platform currently caters to enterprises and businesses, but Samsung is considering expanding its scope.

The smartphone manufacturer also addressed some of the biggest concerns when it comes to blockchain integration in a recent press release. It discusses plans on how adoption issues will be discussed through the “3C solution”; Convergence, Connectivity, Cloud.

The release goes into detail as to what this solution entails, but it generally boils down to converging services, connecting these services together, and doing so through the cloud. This is intended to head off the potential chaos that the haphazard integration of blockchain could bring. Samsung is more than prepared to take these issues head-on and already has a plan to address potential pitfalls in its roadmap.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $10,743.10 (-1.38%)
  • Ethereum (ETH) $194.94 (-3.55%)
  • XRP (XRP) $0.274600 (-2.38%)
  • Bitcoin Cash (BCH) $314.68 (-2.77%)
  • Litecoin (LTC) $75.43 (-1.93%)
  • Bitcoin (BTC) $10,743.10 (-1.38%)
Aug 20, 2019 (Tuesday)
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
HSBC inks agreement to tap Identitii’s blockchain-based information exchange platform ‘Overlay+’
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: XRP/USD fails at 21-EMA, resumes weakness with 'Doji' formation
Israeli regulator seeks to expedite licensing procedures for fintech and blockchain firms
Crypto Technicals: Litecoin treads water below 200-DMA, bias bearish
bitFlyer teams up with Tpoint Japan to rollout bitcoin rewards program
Crypto exchange startup INX Limited eyes $129.5M IPO, marking the first SEC-registered security token sale
New York court denies Bitfinex, Tether's lack of jurisdiction claim
Crypto Technicals: BTG/USD recovery lacks traction, weakness likely to continue
Ethereum Foundation launches Korean version of its website, announces large-scale translation program
Crypto exchange BitMEX to block users in from Seychelles, Hong Kong, Bermuda
Cybersecurity veteran David Damato joins crypto exchange Gemini
Deloitte unveils demonstrational platform for blockchain solutions
Crypto Technicals: ETH/USD consolidates break above 200H SMA, potential 'Golden Cross' raises scope for upside
Crypto custodian BitGo poaches new Chief Revenue Officer from rival Xapo
97% of South Korean crypto exchanges on the verge of bankruptcy; blockchain startups now want to go overseas: Report
Philippines' central bank approves 2 new cryptocurrency exchanges
Association of Cryptocurrency Enterprises and Startups, Singapore rolls out new Code of Practice
Aug 19, 2019 (Monday)
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.