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Electronics Giant Samsung Prioritizes Blockchain in 10-Year Roadmap

20/06/2019 06:08

ET. Journalist:

By CCN Markets: Samsung Electronics vice chairman Jay Y. Lee has revealed a marked focus in future technologies – part of its 10-year strategy – with a focus on blockchain, artificial intelligence (AI), and 6G.

Lee, who is often seen as the face of the Samsung, held meetings last week with some of the company’s executives about the potential collaboration with emerging technology platforms. The technology giant is willing to invest and work with companies building up these nascent technologies.

Samsung has already made significant strides into the blockchain ecosystem with Nexledger, its blockchain platform for enterprises and business.

The world’s biggest smartphone maker has also pumped nearly $3 million into cryptocurrency hardware wallet, Ledger, this year. The exploration of hardware wallets also ties into the integration of a crypto wallet into its Galaxy S10 mobile phone in the form of ‘Samsung Blockchain Wallet.’

New and emerging technologies are firmly on Samsung’s radar for the next ten years with the race to 6G already on as 5G only starts to break ground.

Lee’s decision to make public Samsung’s plans is something to take note of for the company, and the technologies mentioned.

“We should challenge ourselves with a resolution to make new foundations, moving beyond the scope of protecting our past achievements,” Lee said in the statement.

Blockchain is another crucial aspect of Samsung’s moving ‘beyond the scope of protecting our past achievements.’ Many companies are holding back on their integration and exploration of blockchain for fear of its potential and future.

For its part, Samsung has already made concrete steps in the adoption and integration of blockchain technology.

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