Samsung SDS announced that it has developed "Nexledger," a blockchain platform that is developed for industries and corporations and will begin its full-fledged initiatives to tap the blockchain industry.

Samsung SDS has demonstrated digital identity and digital payment services that are powered by blockchain technology. According to ZDNet, the company stated that it has applied biometric solution Nexsign, so as to make participants access various financial services with one authentication.

The blockchain services provide real-time transactions on a large scale as well as can monitor controls and partition conditions of the information within a block for security. Samsung SDS has applied membership authentication service that utilizes blockchain digital identity technology.

Also, the firm stated that it will launch a mobile financial concierge service by this year. This service makes use of artificial intelligence (AI) in order to read customer’s buying pattern as well as suggest the best financial product in the market.

Last month, Samsung SDS signed a Memorandum of Understanding with blockchain startup Blocko Inc. on a strategic business alliance for domestic as well as an international joint venture, related to blockchain and synergy of technology development.