Samsung has announced the launch of a private blockchain system in a bid to increase the security for its smart devices. The name of this system is Knox Matrix and it is being presented as Samsung's revamp of its current security settings.
The Knox Matrix solution will organise login tasks for all
Samsung home devices while connecting them to the network. Meanwhile, the
security system will also provide protection to the sensitive information that
are circulating through other smart devices.
The Samsung Knox Matrix will share login credentials among
all the devices connected to the same network and safeguard the devices against
unauthorised access.
“Samsung Knox Matrix will function as a user's own private
blockchain system, wherein your connected devices enhance security through
multi-layered mutual monitoring. Whether your Samsung devices are based on
Android, Tizen, or other OS, Samsung Knox Matrix will be able to provide a
unified security SDK,” the South Korean giant said in an official statement.
With the launch of this blockchain security system, Samsung
will make the security systems across all its devices uniform.
Samsung Knox Matrix: A Revolutionary Security Solution for Samsung Cross Device Experienceshttps://t.co/qrEsAsPTMc
— Samsung Electronics (@Samsung) October 12, 2022
“With Samsung Knox Matrix, we envision that users need not
compromise on their connectivity in order to stay protected. Samsung Knox
Matrix is set to provide the devices within a user's ecosystem with fewer
vulnerabilities through strong, diverse security practices,” the company's
statement added.
For now, the company has not revealed detailed information
on the working and blockchain dependency of this security system.
Samsung, in recent times, has been testing the Web3 waters
with multiple initiatives linked to the sector.
Samsung Knox Matrix blockchain-based security solution launched: What is it, how will it work and more pic.twitter.com/SXBING83LE
— Beauty products (@KaisarM6) October 14, 2022
Since Samsung launched the Galaxy S10, it added support for
Bitcoin, Ethereum, ERC tokens, Tron (TRX), and TRC tokens to be held in its
Blockchain Wallet.
The tech giant also allows Galaxy users to explore
Decentralised Apps (dApps) that use blockchain technology to authenticate the
exchange of digital assets.
Samsung is also moving briskly towards completing the
development of its 3nm foundry processing chip, that would be able to
facilitate the mining of Bitcoin.
As per August reports, Samsung is also exploring the idea of
launching a full-fledged crypto exchange in South Korea next year.