Samsung SDS Invests in Blockchain Startup

An IT affiliate of South Korean electronics and manufacturing giant Samsung announced today that it has invested in a blockchain startup.

Samsung SDS said that it had invested in Blocko, a firm also based in South Korea, as well as a cybersecurity startup called Darktrace. The investment amount was not disclosed.

Blocko runs a blockchain-as-a-service platform called CoinStack, according to its website.

The firm said in a statement:

"Samsung SDS will increase competitiveness of its cybersecurity business and services by promoting sales of the differentiated cyber threat defense solution by Darktrace to Korean companies, as well as work with Blocko to support commercialization of emerging blockchain technology in various sectors including IoT."