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Blocko to develop blockchain for Samsung Card

Monday 13 March 2017 | 10:01 AM CET

Samsung SDS has teamed up with Blocko to develop blockchain technology for Samsung Card, the conglomerate`s credit card company.

Currently, Blocko supplies its distributed digital ledger platform to Korean companies, including the Korea Exchange and Lotte Card.

The partnership will enable Samsung's IT service affiliate to use blockchain tech for digital identity, digital money, and digital payment services. Under the new MOU, the two will also look for new opportunities to apply blockchain in the financial market.

In July 2016, Samsung SDS along with UK security company Darktrace, invested an unspecified amount in Blocko, to expand its IoT business. Additional, the two companies are both members of Hyperledger, an open source project developing the standard for blockchain technologies in business.

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