Samsung is developing its own Ethereum-based blockchain

Samsung is developing its own Ethereum-based blockchain Techiexpert.com

One of the largest electronics giant company Samsung is now working on to developing its own blockchain network based on the Ethereum and even now planning to issue its own tokens according to the report which has been revealed.

Samsung Blockchain task force, which is also a part of its wireless division, is now buildings its own blockchain based on the Entereum in an “external experimental” stage.

The report also revealed that “Currently, we are thinking of private blockchain, though it is not yet confirmed. It could also be public blockchain in the future, but I think it will be hybrid – that is, a combination of public and private blockchains.”

The report further said that the Samsung is done with the development of the Blockchain, it may also move to launch a new “Samsung coin” token.

Samsung has already revealed its new flagship smartphone with the “Crypto- features” where the smartphone Galaxy S10 can store the cryptocurrency private keys and support a host of blockchain based features which include the digital signatures.

Apart from that, Samsung is also front runner  in the Inter of Things as back in the month of March 2016 Samsung in collaboration with the IBM had also revealed a proof of concept for the ADEPT, a system which uses a blockchain protocol as a basis for the distributed network of devices and Samsung called it as a “sort of decentralized internet of things”

Report

Written by Udit Agarwal

Startup/Tech News Correspondent, Responsible for gathering information on the tech companies working on IOT, AI, ML, Cloud, Mobile Technologies,

Udit can be reached at [email protected]

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