Blockchain is drawing attention as a technology to promote efficient enterprise collaboration by enabling secure storage and immediate sharing of information without an administrator. Gartner Group forecasts that the global enterprise blockchain platform market will grow up to 128% a year until 2021.
Companies are keeping an eye on enterprise blockchain platforms related to their businesses, mainly due to a growing need for cross-industry cooperation and business ecosystems amid a rapidly changing business environment.
The traditional method of sharing information via third party to secure trust among involved parties is inefficient and incurs additional costs, whereas blockchain technology guarantees both transparency and cost-efficiency.
In 2017, Samsung SDS developed its own enterprise blockchain platform, Nexledger. Nexledger can combine various customized features on Hyperledger Fabric and Ethereum, the most commonly used open source platforms in the blockchain market.
For enhanced security and expandability, Samsung SDS also offers its own distributed consensus technology called Nexledger Consensus Algorithm (NCA), allowing corporate customers to choose the most suitable technology to create business value.
Samsung SDS has deployed Nexledger in various industries for blockchain-based innovation, accumulating several actual cases that can be universally applied to different areas: co-verification system for banks, maritime logistics, export customs services, the product design and manufacturing process information management of manufacturers, smart contracts, and etc.
At IBM Think 2019 held in February this year, Samsung SDS unveiled Nexledger Accelerator that can be deployed in all Hyperledger Fabric-based blockchain solutions without the need to modify existing blockchain source codes. Moreover, Nexledger Accelerator improves the transaction speed by more than 10 folds.
Samsung SDS plans to expand the global enterprise blockchain platform business by continuously advancing Nexledger and exploring global business opportunities.