June 19, 2024

Samsung SDS increases privacy of its Nexledger blockchain platform

The IT division of tech giant Samsung SDS has integrated a proof-of-zero solutiondisclosures to increase the confidentiality of its Nexledger blockchain platform.

The company has signed a partnership agreement withIsraeli startup QEDIT, which develops technologies to protect data privacy. The QEDIT solution allows parties using corporate blockchains to record and verify transactions in a distributed registry without disclosing confidential information.

“QEDIT solution went through several stagestesting and proven effective. The team has successfully integrated zero-knowledge proof that can help solve many of the privacy issues often encountered by enterprises, ”said Jeanie Hong, vice president of Samsung SDS.

QEDIT developers noted that their solution forThe closed transfer of digital assets will also be relevant in the banking sector, as regulators and institutions will be able to disclose certain information about transactions. QEDIT already cooperates with many international companies, including the audit firm Deloitte.

In April, Samsung SDS released a new version of itsthe Nexledger Universal corporate blockchain platform, and in October the company announced that it would launch a blockchain-based system for processing medical insurance claims.