Samsung, a South Korean multinational conglomerate company and the country’s largest electronics manufacturer, has asked the CEOs of Samsung Group subsidiaries to attend a discussion led by Roh Sang Kyu of Seoul National University to understand and evaluate the impact of blockchain technology in today’s technology and financial industries
Mainstream South Korean media outlets claimed that Samsung may reportedly utilize the blockchain technology to handle important operations of the company. Some news networks reported that a permissioned blockchain could be integrated by as early as October, to settle financial operations of the company with greater transparency and improved security measures.
According to the Korean Times however, a Samsung Group spokesman denied the report and explained that Samsung doesn’t plan to integrate the blockchain by the end of October. Some of Samsung Group’s subsidiaries may attempt to implement the blockchain technology into their existing IT systems but the spokesman emphasized that they are projects handled by the CEOs of the Samsung Group’s subsidiaries, not the conglomerate itself.
Although Samsung has denied many of the reports that surfaced in Korean media networks, some of its largest company branches including Samsung SDS have already invested in blockchain-focused companies