This Week in Crypto: June 15, 2018 – Samsung Eyes Blockchain Solution

Samsung Eyes Enhancing Finance Competition With Blockchain [1]

Samsung SDS, a subsidiary of Samsung, is introducing a new finance platform based on blockchain. Nexfinance is a platform that offers solutions such as digital identity. The firm also provides automatic insurance payments, a finance concierge and an artificial intelligence (AI) virtual assistant. Samsung SDS CEO Hong Won-pyo says “New technologies such as biometric, AI, and blockchain are bringing out the urge for a fundamental innovation in the finance industry. We have completed the design for Nexfinance aimed at the insurance industry and we will continue to put in efforts to innovate the digital finance industry.”

Swiss Bank Offers Business Accounts to Crypto Companies [2]

The Swiss bank is the first bank in Switzerland to offer business accounts to cryptocurrency companies. CEO Marianne Wildi says “As a bank that sets itself up technologically and pursues a cooperative strategy in the field of fintech, it is also a matter of credibility to work together with the young sector of crypto and blockchain companies in Switzerland”. Lenzburg bank is very selective on the companies in accepting new companies. This is so to ensure they are compliant with the Swiss Financial Market Supervisory Authority.

Volkswagen Partners With carVertical For Automotive Blockchain Apps [3]

carVerticle has won a pitch for car manufacturer Volkswagen to create an app to prevent car fraud. The app will put vehicle information on the blockchain to make it immutable. Users of the platform will be able to track the vehicle’s history by its VIN number. According to the carVerticle website “Our goal is to enable every car buy around the globe to get authentic and non-faked information about the specific vehicle and to help consumers in the maintenance of their vehicles.” carVerticle is a Lithuanian cryptocurrency startup.

Huobi Chain Project Plots Course Toward a Decentralized Financial Platform [4]

Huobi, a global currency trading platform, announced the launch of the Huobi Chain Project. The Huobi Chain Superhero Championship Project is ushering on a next-generation decentralized trading platform. The HCSCP will launch with prizes and incentives to the communication to participate in building the Huobi public chain. CEO and Founder Leon Li says “Upon completion, all of the code will be open-sourc and we will also gradually migrate Huobi onto this new public blockchain. Going forward, a percentage of Huobi’s yearly revenue will also be made available to fund the program.”

Sources: [image] [1] [2] [3] [4]

Jose Mota
Currently the host of This Week in Crypto, Jose previously founded Daily Crypto and is an experienced crypto content creator and growth hacker.

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