Samsung is building its own blockchain network with scope to issue tokens
- The South Korean electronics are in experimental development stages according to people familiar with the matter, working on its own blockchain technology.
- Samsung may even release their own taken. The company has previously expressed goals to dive into the blockchain-sphere.
Samsung, the South Korean electronics are currently developing its own blockchain network. As part of the technology development, they are said to be targeting an issuance of its own token to come in the not so distant future.
It was reported citing a person familiar with the matter at Samsung, noted that the company’s blockchain task force, which is a part of its wireless division, are currently building a blockchain mainnet based to be based on the Ethereum network. It is noted that this development at this stage it is very much an internal experiment.
The person familiar with the matter at Samsung was quoted saying:
Currently, we are thinking of private blockchain, though it is not yet confirmed. It could also be public blockchain in the future, but I think it will be hybrid – that is, a combination of public and private blockchains.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
