Samsung SDS, the data and communication expertise (ICT) arm of Samsung, launched a brand new service named Paperless to supply reliability and transparency of paperwork in a cloud surroundings.
Launched as a cloud-based blockchain-as-a-service (BaaS) resolution for enterprises, Paperless manages delicate paperwork corresponding to contracts, consent varieties and certificates on blockchain to forestall forgery and falsification. According to the official announcement, the brand new service can be utilized in numerous fields corresponding to voting or duties that require numerous proof paperwork.
Paperless additionally allows the administration of paperwork that must be disposed of after a sure interval by encrypting and storing delicate or large-volume knowledge in a separate server, solely holding the hash worth of every knowledge on the blockchain.
Since all knowledge historical past such because the creation, revision and disposal of paperwork is recorded on the blockchain in real-time, this design combining on-chain and off-chain expertise addresses “the slowdown of blockchain’s transaction velocity as a consequence of huge volumes of information,” the announcement reads.
Samsung SDS added that the corporate utilized its Paperless service to its wage contracts for workers, company-wide voting and certificates administration to streamline advanced processes.
The ICT subsidiary of the South Korean tech large is a identified explorer of blockchain expertise. Final yr, Samsung SDS introduced that it could conduct a collection of pilot initiatives to check blockchain-powered medicine distribution management to ensure transparency in monitoring pharmaceutical medication.
Samsung itself can also be a participant within the blockchain race. The corporate beforehand filed a patent for a programmable blockchain solid-state drive (SSD) and swap, though this patent is but to bear tangible fruits.