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Wednesday, May 12, 2021
Home News Samsung to Invest in Block.io Blockchain Startup

Samsung to Invest in Block.io Blockchain Startup

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 Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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