Samsung developed a new tool for banking
The BankSign application will be aimed to facilitate security verification processes for users of South Korean institutions
A subsidiary company of Samsung finalized the creation of a certification based on blockchain technology that will help South Korean banking.
This system was created thanks to the collaboration provided by the Federation of Korean Banks. The tool will allow users to make transactions by means of different applications, but with the ease that security verification will be done through only one.
For this step, only previously established passwords, fingerprints or authentication patterns will be required. According to Samsung, the security of the system is given thanks to the bank’s connection to a data exchange system.
The BankSign information, name that the app received, may be stored for at least three years. Its developers indicated that this can be considered as the first of its kind for banking services.
“BankSign is the first application of the long-awaited blockchain technology in banking services, and the company will continue to expand its digital transformation business, which will strengthen the competitiveness of banks and financial institutions,” said Samsung.
K. Tovar
Source: Diario Bitcoin
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