On October 13, Samsung, the world-famous South Korean electronics and software company, announced the implementation of a private blockchain-based security system for its smartphones.
The aim of the system, which has been dubbed Knox Matrix, is to enhance the security of multiple devices by having each device monitor each other’s activity and share access data to improve the login process through to multi-layer mutual monitoring.
The new technology was touted as an improvement to the existing security strategy, though the firm didn’t give much more detail on the system’s inner workings.
Simplification of connection procedures
According to Samsung, the Knox Matrix system would streamline connection procedures. This is because the connection status will be automatically transferred to home devices that need it to connect to the network.
However, in the meantime, it will also likely prevent other devices connected to the network from accessing critical information.
When it comes to implementing security measures specifically designed for ecosystems based on blockchain technology or cryptocurrencies, Samsung has always been very active.
Thus, as early as 2019, the company included an electronic wallet within its flagship smartphone, the Samsung Galaxy S10, which secures the private keys of the wallets through hardware mechanisms. She also announced the production of mining chips for Bitcoin.
The security technology introduced at the time was known as Knox, and it was the precursor to the system Samsung just unveiled.
Easier and more secure exchange of login data
The company also claims that Knox Matrix can share credentials from one device to another, while securing the information shared between them to make logins more convenient without reducing the level of security.
Samsung’s example suggests that, thanks to Knox Matrix, your phone’s links to stream video to a TV or control an air conditioner are now more secure.
Samsung adds that the system provides a “unified security SDK [kit de développement logiciel] across operating systems used by Samsung devices, including Android, Tizen, and others.
The system is based on Samsung’s existing Knox platform, which protects its smartphones as well as its tablets from hackers at the hardware and software level.
However, details about the Knox Matrix system are still quite scarce. It is not known when it will be available and on which devices exactly.
Extending the Web 3.0 footprint
Samsung is working to increase its visibility within the Web 3.0 ecosystem. Since 2021, the company has been actively involved in blockchain-related activities.
The company joined a CBDC initiative led by the Bank of Korea in August 2021 to create a CBDC trial platform. In this context, Samsung has also used its high-end Galaxy phones to assess the potential of CBDCs.
The company said in March 2022 that it is now collaborating with Nifty Gateway to build the first-ever Smart TV NFT platform.
The consumer and software juggernaut has also laid out plans for the 2023 opening of an exchange cryptocurrency bitcoin. Applications for the establishment of the exchange in South Korea have already been submitted by Samsung Securities.