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Success stories in the Blockchain world: Samsung

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In this latest edition of success stories in the Blockchain world, we bring one of the leading companies in both technology and the smartphone industry: Samsung.

Samsung is a conglomerate of multinational companies whose headquarters are in Seoul. This is the largest South Korean business group, which tries to cover several sectors related to the technological area. Among them, consumer electronics, technology, finance, insurance, construction, biotechnology and services can be mentioned.

This diversification helped the company position itself as one of the market leaders. Samsung is currently leading the ranking in the smartphone industry. Beating its main competitors Huawei, Apple and Xiaomi.

There are many reasons why Samsung got these results. It may be because of the importance they give to be at the forefront in terms of technological advances. It could be the price – value relationship. It could even be simply because the brand has made a name for itself in the industry and now that image is paying off.

However, we believe that everything is due to the risks that the company takes to offer the best and most innovative services to its customers.

An example of this was the Samsung Galaxy Fold, the world’s first foldable touch phone. Although it had its stumbling blocks, it cannot be denied that it represented a great step for the innovation of the industry.

Just like this, Samsung also decided to take risks in another aspect. This is when integrating Blockchain technology into one of your phones.

Blockchain present in Samsung

The Samsung Galaxy S10, one of the crown jewels of the company, comes with two peculiarities. The first is that it has its own integrated cryptocurrency portfolio. The second is that it uses Blockchain technology.

Due to the high demand there has been for both the use of digital currencies such as Blockchain, Samsung began to adapt. Despite the risk this could pose, they launched their own phone with integrated blockchain. And they did nothing more and nothing less than in one of their most coveted models.

This makes the Galaxy S10 not only one of the most difficult contenders to beat in the market, but also one of the main rivals of the HTC Exodus series.

Samsung and the Blockchain

In addition, it is important to clarify that the company did not only use this to investigate the Blockchain industry. If not you also developed two solutions based on the blockchain.

On one side is the Samsung Blockchain Platform SDK, which is aimed at consumers and developers who want to investigate the blockchain. For them, they provide a complete set of functions that are used in a decentralized application (dApp). This solution allows developers to manage Blockchain accounts.

While on the other side is Samsung Blockchain Keystore, which gives consumers control of their data. To do this, it provides a platform that is capable of consolidating and managing private information. It is mainly responsible for security issues.

Success stories

Samsung not only offers Blockchain services to the general public, but has also used them internally. Thanks to this technology, they have been able to improve their supply chain, track products, among other things.

In addition, there was a high level of acceptance among the public for the Galaxy S10. Especially knowing that the blockchain was integrated. That is why it is believed that this year the company of South Korea will continue betting on this sector.

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I am a student of International Studies, interested in new technologies and their impact on the world. Faithful believer that tenacity is the basis of success.

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