Each day, we see the integration of blockchain into several aspects of life, business and government. Basically, blockchain follows the principles of decentralization, verification and distribution. Thus, employing the technology for something as worthwhile as verification, or if you will, authentication is laudable. Which is why Samsung SDS deserves our kudos for building this latest project.
Giant electronic company Samsung has been making headlines recently for its huge role in projects that adopt blockchain in delivering their services. This time around, they are set to launch a blockchain-based electronic authentication platform.
Well, before Samsung, Active X, an authentication program from Microsoft was taking care of this for Korea for the past two decades. Although it is a similar project, Samsung's Rezoome will be faster, support greater security and feature a user-friendly design. Obviously, this would place Samsung as a leader in the blockchain-based authentication industry. If we recall, Samsung has already been solidifying its position as a world leader in authentication and e-governance issues, especially in the South-East Asia region.
News about this latest development from Samsung started filtering in early this week. It only recently got confirmed that the tech giant, well known in electronics would indeed be launching a next generation blockchain-based electronic authentication platform. It is expected to make electronic authentication simple to do in just a couple of clicks and swipes, unlike the complex platforms of Active X and others.
Rezoome, the name of this project was internally developed and funded. It was also designed on Samsung's own blockchain network called NexLedger, thus reducing by five times, the time it would take to get a certificate. That explains why this is more secure.
For a start, the kind of certificates and authentication which Samsung would issue via Rezoome include those for work, school, education, training, and so on. As time goes on, Samsung intends to also issue certificates for sectors like finance and public service.
Reaction to this news is already positive as seen in the 4.35% upward surge of the Samsung SDS shares. The electronic company would go on to apply for a patent in April. We could probably expect the launch that period.
At the moment though, the company is in talks with her affiliates and other companies for purpose of partnership in delivering its services.