Samsung uses blockchain technology to secure user devices
Tech giant Samsung has turned to blockchain technology as an extra layer of security for consumer electronics and personal smart devices. Known as the Knox Matrix, the new network will act as its “own private blockchain system” to protect millions of users.
In its announcement, Samsung noted that Knox Matrix will work on all of the company’s devices regardless of their operating system. Android, Tizen and other operating systems will support the privately distributed ledger with devices receiving a unified software development kit (SDK) to provide analytics for improved security.
“Samsung Knox Matrix will act as the user’s own private blockchain system, where your connected devices enhance security through multi-layered mutual monitoring,” the announcement said.
“We envision that users don’t need to compromise their connectivity to stay protected. The Samsung Knox matrix is set to provide the devices in a user’s ecosystem with fewer vulnerabilities through strong, diverse security practices,” it added.
Samsung notes that one of the highlights of the new offering is the use of a seamless login process to improve user-friendliness. The process will involve the sharing of user credentials between units while protecting sensitive information among trusted units.
One of the arguments for blockchain is its ubiquity in security, given its inherent features. Enthusiasts claim that the technology can be used to secure IT operations, particularly in identity protection, authentication and access management, thanks to its resilience and the availability of multi-signature access controls.
Samsung is in love with Web 3
This isn’t Samsung’s first rodeo with blockchain, as the tech firm has several streaks of previous forays into the industry. The company participated in 13 rounds of financing for firms in the Web 3 space over the course of nine months and owns a stake in industry giants such as Yuga Labs, Animoca Brands and Sky Mavis.
According to Blockdata, Samsung tops the list of 40 tech firms, surpassing the likes of Alphabet (NASDAQ: GOOGL ) and Microsoft (NASDAQ: MSFT ) in terms of the size of its investments. Blockdata reports that Samsung’s investment strategy is focused on NFTs, gaming and Web 3 social networks.
The announcement to launch Knox Matrix was accompanied by a partnership with Google to improve smart home experiences. The firm notes that the move “will give users greater flexibility” to support “our huge existing and potential user base” using Samsung and Google devices.
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