Tech giant Samsung has turned to blockchain technology as an added layer of security for consumer electronics and personal smart devices. Known as Knox Matrix, the new network will operate as its “own private blockchain system” to protect millions of users.
In its announcement, Samsung noted that the Knox Matrix would operate on all the firm’s devices irrespective of their operating system. Android, Tizen, and other operating systems will support the privately distributed ledger with devices receiving a unified software development kit (SDK) to provide analytics for improved security.
“Samsung Knox Matrix will function as the user’s own private blockchain system, wherein your connected devices enhance security through multi-layered mutual monitoring,” the announcement read.
“We envision that users need not compromise on their connectivity to stay protected. Samsung Knox matrix is set to provide the devices within a user’s ecosystem with fewer vulnerabilities through strong, diverse security practices,” it added.
Samsung remarks that one of the highlights of the new offering is the use of a seamless login process to improve ease of use. The process will involve sharing user credentials between devices while still protecting sensitive information among trusted devices.
One of the arguments in favor of blockchain is its ubiquity in security, given its inherent features. Enthusiasts argue that the technology can be used to secure IT operations, especially in identity protection, authentication, and access management, thanks to its resilience and availability of multi-signature access controls.
Samsung is in love with Web 3
This is not Samsung’s first rodeo with blockchain, as the tech firm has multiple streaks of previous forays in the industry. The company participated in 13 funding rounds for firms in the Web 3 space within nine months and owns a stake in industry giants like Yuga Labs, Animoca Brands, and Sky Mavis.
According to Blockdata, Samsung tops the list of 40 tech firms, surpassing the likes of Alphabet (NASDAQ: GOOGL) and Microsoft (NASDAQ: MSFT) in terms of the size of its investment. Blockdata reports that Samsung’s investment strategy is focused on NFTs, gaming, and Web 3 social networks.
The announcement to launch Knox Matrix was accompanied by a collaboration with Google to improve smart home experiences. The firm notes that the move “will provide users with greater flexibility” to support “our massive existing and potential user base” using Samsung and Google devices.
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