cryptopotato.com
South Korean tech giant – Samsung – announced a new security system dubbed ‘Knox Matrix’ that links all user devices together in a private blockchain.
The main objective is to enhance the security of a multi-device environment. Essentially, if a single device gets compromised, the others shut it out of the network automatically.
- The company explained,
“Samsung Knox Matrix will function as a user’s own private blockchain system, wherein your connected devices enhance security through multi-layered mutual monitoring. In order to protect users’ smart homes from unauthorized access and to make the login process more convenient, Samsung Knox Matrix will share credentials device-to-device and protect sensitive information even between trusted devices.”
- The implementation of multi-layered mutual monitoring with the help of the private blockchain concept is expected to offer a local, distributed way of ensuring security.
- Knox Matrix was unveiled at the Samsung Developer Conference on Wednesday. The inner workings of the system have not been disclosed.
- Samsung has been one of the most active South Korean corporations in the blockchain space.
- As per the latest research by Blockdata, Samsung has invested in 13 companies between September 2021 and mid-June 2022 including Yuga Labs, Animoca Brands, and Sky Mavis.
- Samsung was one of the 40 firms that invested nearly $6 billion into blockchain startups during that period, cited Blockdata.
- The tech giant is likely to have executed most of its investing efforts via Samsung Next, an innovation group within Samsung Electronics focused on blockchain, artificial intelligence, and the Metaverse.
- It was earlier reported that the company’s investment arm – Samsung Securities – is eyeing the launch of its cryptocurrency platform in the first half of 2023.