Samsung SDS, IT subsidiary of Samsung group, announced that it will work with the Seoul Metropolitan Government to adopt blockchain technology towards the city’s administrative management. The blockchain platform will be used in various areas of administration and governance by 2022, including transportation, public safety and city welfare.
“Samsung SDS blockchain technology and consulting capabilities will contribute to Seoul’s leap as a top-rate global city,” said Hong Won-pyo, CEO of Samsung SDS.
Korean IT giant successfully worked on various blockchain solutions before. Several months ago Samsung SDS commercialized Nexledger, business-to-business digital financial platform based on blockchain technology. Nexledger benefits corporations looking for a cost-efficient method of managing digital financial transactions and data exchange.