Samsung and SK Telecom: several projects around Blockchain in sight!

South Korea is a global stronghold for technology investments. Recently, the telecommunications giant Samsung announced its involvement in various projects to deploy the Blockchain via a partnership with the Dutch bank ABN AMRO. At the same time, SK Telecom seeks to leverage this disruptive technology to promote a tracking system for habitat-related activities.

Samsung and ABN AMRO to facilitate the sharing of documents related to import and export

Samsung is renowned for its modern electronics, but the firm does not rely solely on this sector to mark its territory. Currently Samsung SDS, is interested in the logistics sector and through its platform Nexledger , it plans to partner with one of the major Dutch banks ABN AMRO who have CORDA to handle the tracking and routing of goods from Asia in the port of Rotterdam.

With the potential of the Blockchain, the two platforms (Nexledger and CORDA) will be linked for efficient and transparent data control. The goal is to prevent and avoid fraud with faster processing of information by preventing tampering. According to information from Samsung, the project would be able to function by February.

SKT works with Blockchain to manage housing

In parallel with Samsung, another South Korean company is looking to use the Blockchain to revolutionize the housing sector . SKT will collaborate with Korea Land & Housing Corporation to implement its Blockchain to LH's housing projects.

Through decentralization and blockchain, housing monitoring and management should be facilitated by replacing identity cards and assigning them to housing contracts (current or future) followed by a protocol that will serve as evidence of transactions.

Do you believe that the involvement of the big South Korean companies in the Blockchain is good news for the new economy? React in the comments section.