Samsung Included in 'Forbes Blockchain 50' Companies

Published on 2019/04/28 | Source

Samsung has made the list of Forbes magazine's top 50 companies using blockchain technology.

In its list of "Forbes Blockchain 50" released on Monday, the magazine pointed out that "global corporations are embracing the technology underlying cryptocurrencies like Bitcoin to speed up business processes, increase transparency and potentially save billions of dollars".

"For Korean consumers [Samsung] has developed a smartphone app that uses the blockchain to verify the identity of the phone's owner to 15 of the nation's banks. That eliminates the inconvenience of Korea's 20-year-old identity verification system, which can require a tedious signup process for each bank", the magazine wrote.