Samsung SDS Launches Blockchain-as-a-Service: ‘Paperless’
+ Launches ‘Paperless’ service that enhances the reliability and transparency of documents through the blockchain technology
+ Applicable to multiple types of contracts, certificates, voting, etc.
+ To expand into various cloud-based Blockchain-as-a-Service (BaaS) areas including identity authentication and payment services
Samsung SDS is set to expand its cloud-based BaaS business with the launching of ‘Paperless’ service that solves document forgery and falsification issues with blockchain technology.
Paperless is a service that safely manages various types of documents that are prone to forgery and falsification, such as contracts, consent forms and certificates, using blockchain technology. It can be applied in a wide variety of areas including voting or tasks that require various proof documents.
In particular, Samsung SDS applied the off-chain technology to the Paperless service which encrypts and stores data such as sensitive personal information or large volumes of documents at a separate server and records only the hash value* of each data on blockchain.
*hash value: an encrypted numeric value representing file characteristics to prove the identity of copied data
This can address the slowdown of blockchain’s transaction speed due to massive volumes of data and also manage documents that need to be deleted after being stored for a certain period of time. Moreover, it can help secure the reliability and transparency of data, as all data history including the creation, revision and disposal of documents is recorded on blockchain in real time.
Clients can easily use the service in various areas including contracts, verification and voting by utilizing the standard API of Paperless service offered by Samsung SDS without having to set up an additional system.
In fact, Samsung SDS has already applied Paperless service in its salary contracts for employees, company-wide voting and certificate management and in turn was able to streamline complex processes while enjoying a higher level of convenience.
Paperless service is currently offered at “My Trial” of the Samsung SDS website.
Jeanie Hong, Senior Vice President and Leader of DT Platform Business Unit at Samsung SDS, said, “Starting with the launching of Paperless service, we plan to provide a wide range of cloud-based blockchain services including identity authentication and payment to deliver new values for our clients.”