Samsung SDS, a subsidiary of South Korea’s tech conglomerate, will use blockchain technologies to make interactions between different banks’ mobile systems seamless.

According to Coindesk.com, in collaboration with the Korea Federation of Banks, the company developed new blockchain-based certification platform, called BankSign.


Users will be able to carry out transactions on different apps, but the system will require verification from only one app, using passwords, fingerprints or patterns for authentication.

Samsung representatives said the system’s security ensured by connecting banks’ systems into the data-sharing network, and the certification data within this network can remain valid for up to three years.


“BankSign is the first application of the much-anticipated blockchain technology on banking services. The company will continue to expand its digital transformation business, which will bolster competitiveness of banks and financial institutions,” Samsung SDS noted.

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