Samsung SDS Announces The Development Of Blockchain Platform Nexledger Universal

The IT subsidiary of Samsung Group, Samsung SDS has announced that the new version of blockchain platform dubbed Nexledger Universal is up for release. It was first announced in 2017.

Nexledger empowers organizations to take control of distributed transactions securely and conveniently. The platform has been implemented in various fields such as finance, manufacturing, logistics, and the public sector.

The blockchain services provide real-time transactions on a large scale as well as can monitor controls and partition conditions of the information within a block for security. Samsung SDS has applied membership authentication service that utilizes blockchain digital identity technology. Also, the firm stated that it will launch a mobile financial concierge service this year. This service makes use of artificial intelligence (AI) in order to read a customer’s buying pattern as well as suggest the best financial product in the market.

Nexledger Universal provides standard application programming interface (API) that is commonly applied to Samsung SDS NCA (Nexledger Consensus Algorithm) and general blockchains such as Hyperledger Fabric and Ethereum.

The latest version provides faster performance and has improved security functions by applying “white box cryptography technology.” It would enable customers to reduce the time and resources required for securing blockchain developers and verifying the technology.

The announcement reads:

“Through this, customers can develop application services such as user authentication, payment settlement, and proof of originality using only one of three technologies and can easily apply to other technologies.”

The product is available as a platform as a service (PaaS) in Microsoft’s Azure marketplace which will allow the users to experience it in a cloud environment without the need for separate server and application installation. The company is planning to expand its cloud-based blockchain platform by registering Nexledger Universal on other cloud marketplaces.