Live
- GMR Airports Unveils AI-Powered Digital Twin Platform to Transform Airport Operations
- India poised to become leading maritime player: PM Modi
- Top Causes of Kidney Stones and How to Recognize Silent Symptoms
- India’s renewable energy capacity logs 14.2 pc growth at 213.7 GW
- Winter Session of Odisha Assembly adjourned sine die
- Biden calls Trump's tariff approach 'major mistake'
- After Drama Over Eknath Shinde’s Chief Minister Race, Maharashtra Cabinet Formation Faces New Tensions
- Egyptian FM, Blinken discuss recent developments in Syria
- Iran's supreme leader says Syria's developments result of US-Israeli 'plot'
- Elon Musk to Purchase $100 Million Luxury Mansion Next to Donald Trump's Mar-a-Lago, Report Reveals
Samsung, IBM working on bitcoin tech
Samsung Electronics Co. is working with International Business Machines Corp. to use bitcoin technology for new applications. While bitcoin\'s price has almost halved in the past year and the prospects for the digital currency are uncertain, its underlying software is attracting companies like phone makers, carriers and banks. That\'s because the technology can be tweaked to record changes in ownership of any asset in a public ledger
Samsung Electronics Co. is working with International Business Machines Corp. to use bitcoin technology for new applications. While bitcoin's price has almost halved in the past year and the prospects for the digital currency are uncertain, its underlying software is attracting companies like phone makers, carriers and banks. That's because the technology can be tweaked to record changes in ownership of any asset in a public ledger using a distributed network of computers or mobile phones.
It could help facilitate all types of online transactions. Samsung Research America, a division based in Silicon Valley, has researchers looking at using the so-called bitcoin blockchain to design better ways to verify "that what you say is authentic is authentic," said Steven Rahman, director of strategy at the research division.Samsung makes electronics ranging from Galaxy smartphones to home appliances and TVs.
The Suwon, South Korea-based company also runs music radio and video services, a mobile-payment service, and offers a variety of apps."The blockchain technology is very interesting in general, and it can be applied in a lot of areas," Rahman said. "Currency, it's just the first use case.
You could imagine that anything, like prescriptions, could be managed with the blockchain technology."Samsung Research America usually develops technologies that may be used in commercial products in two to five years, he said, declining to provide further details about the bitcoin project.
