Samsung SDS, a subsidiary of Korean technical giant, has introduced a certification platform for Korean banks BankSign based on blockchain technology. This was reported by Yonhap.
Reportedly developed in cooperation with Korean banking Federation BankSign platform is designed for interoperability between mobile systems of different banks. Users will be able to carry out transactions at different mobile applications, but verification is only necessary in one program. As usual, for verification of users use password, fingerprint or pattern.
According to representatives of Samsung, the system safety is ensured by the consolidation of banking systems into a single data exchange network. Certification data in the network can remain valid for three years. Technology should increase the safety of the users. Even more this will contribute to the inability to change entries in the blockchain.
“BankSign is the long-awaited first application of blockchain technology in the banking sector. The company will continue to develop its digital business and to enhance competition among banks and financial institutions”, — said representatives Sasamsung SDS.
Samsung SDS was founded in the year 2015. The release of the first business platform called Nexledger held in 2017. At the moment IT is a division of the South Korean technology giant is developing a digital financial platform Nexfinance technology of the distributed registry.
Earlier Samsung SDS has announced the launch of logistics blockchain platforms Cello Square 3.0 based on artificial intelligence.