Korean banks to roll-out Samsung blockchain system

BankSign, to be launched by the Korea Federation of Banks (KFB), will replace a 20-year old security system, which has been deemed obsolete.

“BankSign is the first project co-developed by the local banking sector utilising blockchain technology. The blockchain platform is notably built on top of Nexledger, a private enterprise cloud computing platform developed by Samsung SDS – the IT subsidiary of South Korea’s biggest conglomerate, Samsung,” says a KFB official.