Recently, Samsung SDS, part of South Korea’s largest conglomerate has announced that they have developed a blockchain based certification platform for South Korean Banks.
This platform is developed for users to carry out transactions easily among different banks and is known as BankSign.
As reported by the news agency
Yonhap, with the use of this platform users can access transactions from any of the mobile applications but the final verification will be carried out by the single application via passwords or fingerprints etc.
The company stated that -
“BankSign is the first application of the much-anticipated blockchain technology on banking services. The company will continue to expand its digital transformation business, which will bolster the competitiveness of banks and financial institutions.”
Samsung SDS was launched in 2015 and released its first blockchain powered platform, Nexledger in 2017 which automates the tracking of all financial records from different financial companies.