Samsung IT Subsidiary Releases New Version of Enterprise Blockchain Platform

Samsung SDS, the IT subsidiary of international technology giant Samsung Group, has released a new version of its enterprise blockchain platform dubbed Nexledger Universal, according to a press release on April 24.Nexledger Universal offers an application programing interface that can be applied to different blockchains like Ethereum, Hyperledger Fabric and the firm's own Nexledger Consensus Algorithm.

According to the press release, users can then develop applications for authentication, payment settlement, and proof of originality.

Nexledger Universal is currently available on Microsoft's Azure marketplace.

"We plan to expand our cloud-based blockchain platform by registering Nexledger Universal on other cloud marketplaces."

In March, the president and CEO of Samsung SDS Hong Yuan Zhen said that blockchain can improve productivity in the manufacturing industry.

He stated, "In the whole process of supply chain management, communication is very important, data needs to be collected, and through blockchain and AI, we can improve processes and enhance trust so that we can share information better, so a healthy process is established."

In February, Samsung SDS announced that it had developed a means to speed up blockchain transactions.

The firm presented its Nexledger Accelerator at the IBM Think 2019 conference in San Francisco.

The technology had already passed testing on Hyperledger Fabric.