Samsung jumps into Blockchain bandwagon, launches ‘NexFinance’

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Samsung-Blockchain-Technology
Samsung-Blockchain-Technology

Samsung SDS, The IT service of the big conglomerate has just launched its own Blockchain platform by the name of “Nexfinance” for the finance businesses.

Samsung-Blockchain-Technology
Samsung-Blockchain-Technology

Samsung SDS unveils it’s own Blockchain based platform ‘NexFinance’

Samsung SDS, the IT sector service of Samsung has just launched its own Blockchain System by the name Nexfinance as its own Digital Banking Platform under its finance businesses.

NexFinance will Use Blockchain and AI for Better Services

Nexfinance technologies integrate Internet of Things (IoT), Blockchain and Artificial Intelligence or AI and Big Data to transform digital strategies for companies in Financial Sector.

“Samsung SDS is planning to launch its digital finance business through Nexfinance, a digital financial platform that combines proven technology and new technology,” said Yoo Hong-jun, vice president of finance business at Samsung SDS. It will be a companion to solve the troubles of the organization”

Nexfinance will assist in providing services like Financial Concierge, AI Virtual Assistant, Digital Identification & Automatic Insurance through financial and other innovation experiences.

NexFinance along with AI will provide better services to the end customers

Digital identity is Blockchain based identity method that can transmit personal information securely. The AI virtual assistant automates the billing system in financial institutions, and the Financial Concierge is based upon Financial Management service that works on big data and AI. All this will help provide better services to the customers.

NexFinance is Open Source

Nexfinance is based on Open source platform that will help different financial institutions to flexibly change their systems according to demands of Financial IT sectors. It will also provide the maximum level of security by working on different authentication technologies and techniques of Forgery Prevention.

 More companies moving towards Blockchain Based systems

Different companies are working in the fields of Blockchain by creating their own Blockchain based platforms, For Instance, LG also created their own Blockchain based system called as ‘Monochain’ to improve its operations in the field of Manufacturing, Finance and communication sectors.

What do you think of the Future of Blockchain based systems and is it good that companies are using this system for better efficiency? Leave your suggestion in the comment box below.

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