[Yonhap Photo]
SEOUL -- Samsung SDS, an information technology wing of South Korea's top conglomerate Samsung Group, unveiled a new financial service platform using new technologies such as artificial intelligence and blockchain that could be used by financial firms to accelerate their digital revolution.
"We have created a whole new dimension of a digital finance platform by merging new technologies such as AI and blockchain," Samsung SDS CEO Hong Won-pyo told reporters in a ceremony to launch Nexfinance, a digital financial service platform.
Blockchain is a decentralized service which shares replicated and synchronized data geographically spread across multiple servers operated by countries or organizations. Each virtual ledger works as a verification tool, making it almost impossible to hack or manipulate.
Nexfinance provides financial services such as a blockchain-based identification verifying system, finance management using AI and big data and automated billing services, he said, adding the platform would help lead digital innovation in South Korea's financial market.
Samsung SDS' new digital finance service could bring a new wind of change in South Korea's digital finance market. Its blockchain feature could provide better security compared to other financial services. Blockchain technology
reporter
Park Sae-jin
swatchsjp@ajunews.com
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