Samsung to Invest in Block.io Blockchain Startup

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Samsung SDS, an affiliate of the Samsung Group has announced that it has invested in Blocko, a Korean Blockchain startup through its new technology investment fund.

The Samsung  press release stated:

“Through these investments, Samsung SDS will be able to retain leading-edge technology in cyber security and blockchain. The company plans to collaborate closely with these startups to drive business growth. Samsung SDS will increase competitiveness of its cybersecurity business and services by promoting sales of the differentiated cyber threat defense solution by Darktrace to Korean companies, as well as work with Blocko to support commercialization of emerging blockchain technology in various sectors including IoT.”

Samsung SDS as a global ICT service company considers securing a differentiated core technology very important and therefore is investing in global startups with future promising technologies through a new technology investment fund in which Samsung SDS owns 99% of the shares, co-managed by Samsung Venture Investment Corporations (“SVIC”).

Darktrace is a startup based in U.K. which uses advanced machine learning technology for detecting and responding to cyber threats. Named ‘Best Security Company of the Year’ 2016 by Info Security, Darktrace is capable of identifying new, emerging threats within computer networks in real time including insider attacks, ransomware, machine-based attacks, and unknown threat scenarios that may bypass other security systems.

Blocko is a Blockchain company in Korea that provides a proprietary Blockchain platform  to leading enterprises in Korea, enabling them to easily adopt this emerging technology. Blockchain is a technology which maintains a shared digital ledger of transaction data on a distributed network of computers so as to prevent the data from being hacked or corrupted. This emerging technology is expected to be applied in Fintech and other fields such as IoT and healthcare.

“Samsung SDS will continue to invest in global startups in sectors such as AI, analytics, IoT, etc. to secure disruptive technologies and drive future growth through innovation.”

Richard Kastelein

About Richard Kastelein

Founder, Publisher and Editor in Chief of Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC, Richard Kastelein is also an advisor with a number Blockchain startups doing ICOs including DECENT.ch, Inchain, Humaniq, Chronobank, eGaas and others.

He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List. As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven etc, where he helped spread the cause for Blockchain technology and crypto-currency and, consequently, has built a notable network inthe scene.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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