Samsung is planning to leverage the “private blockchain” system to enhance the security of its smart devices, a revolutionary security solution for Samsung cross-device experiences.
The announcement came after the South Korean tech giant disclosed a new security system coined “Knox Matrix,” designed to link all user devices together within a private blockchain.
From the announcement, Samsung’s decision to unleash this new product draws from the company’s commitment to improving the security of a multi-device environment. Knox Matrix operates on the principle that when a single device is compromised, the rest of the devices will automatically shut it out of the network.
An official announcement from Samsung explaining the functionality of Know Matrix states:
“Samsung Knox Matrix will function as a user’s private blockchain system, wherein your connected devices enhance security through multi-layered mutual monitoring. To protect users’ smart homes from unauthorized access and make the login process more convenient, Samsung Knox Matrix will share credentials device-to-device and protect sensitive information between trusted devices.”
Knox Matrix was launched at the Samsung Developer Conference (SDC) on Wednesday, October 12. While the system’s inner workings are yet to be announced, the event was themed around “understanding that security and privacy are top priorities for our users.”
Samsung’s swoop into the blockchain space
Samsung stands among the most active corporations within the blockchain ecosystem in South Korea. With the unveiling of a private blockchain concept, the company pioneers a revolutionary technology set to play an enabling role in implementing multi-layered mutual monitoring. According to the report, this will offer a local, distributed way of ensuring security.
Blockdata, a reputed research company, has recently published data recognizing Samsung for having invested in 13 companies between September 2021 and mid-June 2022. These companies include Animoca Brands, Yuga Labs, and Sky Mavis.
The research also notes that during the same period, Samsung and 39 other firms invested almost $6 billion into blockchain startups. Most of these investment efforts were executed through the blockchain-oriented Samsung Next, an innovation group under the Samsung Electronics umbrella. Beyond blockchain, Samsung Next also focuses on artificial intelligence (AI) and the Metaverse.
Other groups that operate under the tech giant include Samsung Securities, serving as Samsung Electronics’ investment arm. Reports have noted that this subsidiary is looking to launch its cryptocurrency platform during the first six months of 2023.
Taking device security experiences to the next level
The development follows the company’s cognizance that present days’ lifestyles are more connected than ever before, as enabled by smartphones and smart home devices. With this level of growing connectivity, fears around security also arise, mainly where using connected device ecosystems is concerned. An excerpt from the announcement reads:
“With Samsung Knox Matrix, we envision users need not compromise their connectivity to stay protected. Samsung Knox Matrix is set to provide the devices within a user’s ecosystem with less vulnerability through strong, diverse security practices.”
With Samsung Knox Matrix in your back, a smartphone streaming to a TV or connected to an air conditioner become more secure.
Samsung Electronics’ venture is poised to take its device security experiences to the next level, a timely move. With this upcoming solution, users will have more peace of mind and enjoy more security.
