Forbes included Samsung as one of the world’s 50 Blockchain’s Billion Dollar Babies, companies capable of generating more than $1 billion in the blockchain.
Samsung is the only South Korean company on the list.

It said, “Samsung is using its Nextledger blockchain platform to overhaul how its batter-manufacturing subsidiary manages contracts and the execution of those contracts.”
Forbes added that Samsung, for Korean consumers, has developed a smartphone app that uses the blockchain to verify the identity of the phone’s owners to 15 of the nation’s banks.

“That eliminates the inconvenience of Korea’s 20-year-old identity verification system, which can require a tedious signup process for each bank,” Forbes said.

Such big companies that as Google, Facebook, IBM, Microsoft, Citigroup, JP Morgan Chase are among the list. Forbes also named Santander, Art Financial, Coinbase, and Ripple among the 50.