Categories: Blockchain

Korean banks to roll-out Samsung blockchain system

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BankSign, to be launched by the Korea Federation of Banks (KFB), will replace a 20-year old security system, which has been deemed obsolete.

“BankSign is the first project co-developed by the local banking sector utilising blockchain technology. The blockchain platform is notably built on top of Nexledger, a private enterprise cloud computing platform developed by Samsung SDS – the IT subsidiary of South Korea’s biggest conglomerate, Samsung,” says a KFB official.

Olivier Acuña

Olivier has been writing for over 30 years. He has been based in six countries working for major news outlets including the Guardian, UPI & AP. He has covered massive earthquakes, presidential elections, immigration, and taken photos standing in the middle of shootouts between drug cartels, gone undercover to investigate organised crime, interviewed presidents, former presidents, heads of international organisations.