Samsung to Seek Collaboration With Platform Firms on Blockchain Innovation and 6G

The vice chairman of Samsung says the firm will seek to collaborate with platform companies on the development of blockchain.

The vice chairman of South Korean consumer electronics giant Samsung says the firm will seek to collaborate with platform companies on the development of blockchain, artificial intelligence and sixth-generation mobile networks. The news was reported by Bloomberg on June 16.

The vice chairman, Jay Y. Lee — who reportedly serves as the firm’s de facto leader — held discussions with Samsung executives to discuss the potential collaborations last week, according to a company statement cited by Bloomberg. A platform company is an initial acquisition by a private equity firm for the purpose of making further acquisitions within a certain sector.

Per Bloomberg, the move to pursue bleeding-edge technologies such as blockchain and 6G comes amid a rapidly changing business climate and structural changes in the technology industry, which ostensibly presents new challenges for major firms. In the statement, Lee noted:

“We should challenge ourselves with a resolution to make new foundations, moving beyond the scope of protecting our past achievements.”

As reported this May, Samsung’s forthcoming budget smartphones will allegedly include cryptocurrency and blockchain features.

Crypto and blockchain-related functionality already confirmed for the Samsung S10 will thus ostensibly be included in other Galaxy smartphone models.

At the end of April, an anonymous source had claimed that Samsung could eventually develop a public-private blockchain complete with its own token.

A Cointelegraph analysis published earlier this month covered the burgeoning trend among South Korean conglomerates such as Samsung, Naver and NHN to pursue blockchain innovation, despite the government’s tough stance toward decentralized cryptocurrencies.

Visit the USSA News store!
Click this link for the original source of this article.
Author: Marie Huillet

This content is courtesy of, and owned and copyrighted by, and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact the administrator by using the contact form located in the top-left menu. Your request will be immediately honored. Please visit for more terrific, conservative content. The owner of this website may be paid to recommend American Bullion. The content of this website, including the positive review of American Bullion, the negative review of its competitors, and any other information may not be independent or neutral.