Samsung SDS, the information and communication technologies (ICT) arm of Samsung, launched a new service named Paperless to provide reliability and transparency of documents in a cloud environment.
Launched as a cloud-based blockchain-as-a-service (BaaS) solution for enterprises, Paperless manages sensitive documents such as contracts, consent forms and certificates on blockchain to prevent forgery and falsification. According to the official announcement, the new service can be used in various fields such as voting or tasks that require various proof documents.
Paperless also enables the management of documents that need to be disposed of after a certain period by encrypting and storing sensitive or large-volume data at a separate server, only keeping the hash value of each data on blockchain.
Since all data history such as the creation, revision and disposal of documents is recorded on the blockchain in real time, this design combining on-chain and off-chain technology addresses “the slowdown of blockchain’s transaction speed due to massive volumes of data,” the announcement reads.
Samsung SDS added that the company applied its Paperless service to its salary contracts for employees, company-wide voting and certificate management to streamline complex processes.
The ICT subsidiary of the South Korean tech giant is a known explorer of blockchain technology. Last year, Samsung SDS announced that it would conduct a series of pilot projects to test blockchain-powered medicine distribution management to guarantee transparency in tracking pharmaceutical drugs.
Samsung itself is also a participant in the blockchain race. The company previously filed a patent for a programmable blockchain solid-state drive (SSD) and switch, although this patent is yet to bear tangible fruits.
Read More: cointelegraph.com