The electronics giant, Samsung, has announced the introduction of a blockchain-based security system for its smart devices.
The goal of this system, called the Knox Matrix, is to increase the security of a multi-device environment, where each smart device monitors the other and shares access data to simplify login tasks.
For example, Samsung claims that using the phone connected to other smart devices such as smart TVs or air conditioners will make these devices more secure from any threats.
According to Samsung, the Knox Matrix solution will also simplify the task of logging in throughout the home, as login status is automatically distributed to devices that need to join the network. However, at the same time, this technology will protect sensitive information from other devices in the network.
However, the release date and specifications of this system are not provided by Samsung.
Samsung’s Steps in Blockchain Technology
Samsung has been active when it comes to integrating hardware security tailored to blockchain and cryptocurrency-based environments. In early 2019, the company incorporated a digital wallet into its flagship smartphone, the Samsung Galaxy S10.
The security system that was included at the time, called Knox, was the predecessor to the one recently introduced by Samsung. The company has also had a presence in the non-breeding token (NFT) territory, teaming up with six different companies in August to build its own Galaxy-branded NFT ecosystem.
Segame, one of the largest Japanese gaming companies, has previously announced that it will launch its first blockchain game. This project is a collaboration between Sega and another Japanese development company, Double Jump Tokyo.
The game, which will be based on Sega’s Sangokushi Taisen franchise, will be built using Oasys, a project focused on Japanese expansion, to support its blockchain elements.
The Sangokushi Taisen franchise consists of a series of strategy games that allow players to use virtual cards. The structure of the game is suitable for implementing blockchain elements, such as the coding of some game assets and aspects of card trading.
However, there was no further clarification on how to include these blockchain elements as part of the game mechanics.
Oasys Blockchain and Blockchain Gaming
Double Jump Tokyo has announced that the blockchain part of the game will use Oasys. Oasys is a blockchain initiative that aims to be scalable enough to support a large number of concurrent players using its service.
Oasys is backed by traditional entertainment hubs and crypto companies such as Bandai Namco, Sega, Jump Crypto and even Square Enix, which are validators on the chain and are currently exploring the launch of blockchain games using this technology.
Sega’s stance on Blockchain technology
Sega’s position on digital assets and blockchain games has been ambiguous. In January 2022, the company said it would forgo applying this technology in its games if its customers deemed it hoarding.
However, in April 2022, Sega hinted at the possibility of including the NFT and metaverse elements as part of its “Super Game” development strategy.
Previously, the Committee of Permanent Representatives (COREPER) of the Council of the European Union approved the final version of the Markets in Crypto Assets (MiCA) Act. According to a document published by the Council of the European Union after its meeting on October 5, 2022. The Committee is made up of the Heads of Mission of the EU Member States in Brussels.
According to the report from Bitcoin.com, on Saturday (10/8/2022), COREPER is preparing the agenda for the council ministerial meeting and is authorized to make several procedural decisions.
The European Parliament has been notified of the ratification by correspondence with the Committee on Economic and Monetary Affairs (ECON) which is expected to meet and vote next week.
The committee’s approval of the draft MiCA package comes after the three main institutions in the EU’s complex legislative process, Parliament, Council and Commission, reached consensus earlier this year on the text of a comprehensive proposal to regulate the crypto economy.
They also agree on a set of anti-money laundering rules for transactions involving crypto assets. MiCA should enter into force upon completion of the approval process and publication in the Official Journal of the European Union, hopefully at the end of 2022. However, many of its provisions will come into force in late 2025 or mid-2024.
The law aims to regulate the activities of digital currency issuers and related service providers while protecting customers and investors across the European Union.
Previous attempts to review it in Parliament, including a controversial proposal to ban the provision of services to cryptocurrencies that rely on energy-intensive mining methods such as Bitcoin, have led to a backlash in the industry and the crypto community.
This week, members of the European Parliament called for the introduction of effective and uniform tax rules for crypto assets in member states.
A non-binding resolution adopted by a majority vote of European parliamentarians also proposed using blockchain technology to combat tax evasion and offering simplified tax treatment to cryptocurrency and small traders.