Korean Government’s Public Sector Blockchain Contract has won by Samsung

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Blockchain News

Samsung SDS has announced a lucrative agreement with the Korean government to develop a new Blockchain technology-based platform for the welfare, public safety, and also for transportation by 2022. The hope is to increase the transparency of the government services.

When the nation has prohibited ICOs, they have been holding the Blockchain Technology. The requirements of the technological change have become increasingly clear, as the globe becomes technologically interconnected.

Hong Won-Pyo, CEO of Samsung SDS said:

“Samsung SDS’ Blockchain technology and consulting capabilities will contribute to Seoul’s leap as a top-rate global city.”

Blockchain for public sector

The growing technology has become a basis for the new government system to create a combination of the security and the transparency. Since the Blockchain Technology presents a systematic approach to creating and controlling the data. governments are moving towards the utilization of it for the solutions.

Samsung SDS has already commercialized its Nexledger platform and applied it to Samsung Card. The firm has also suggested that the platform will be applicable solutions for the shipping logistics and has tested those capacities as well.