Samsung SDS is expanding into cloud-based Blockchain-as-a-Service (BaaS) areas with the release of a new service called ‘Paperless.’ The company revealed that its latest service improves reliability and transparency through off-chain technology. It safely manages documents that are prone to forgery, including consent forms, certificates, and contracts. The service can even be applied in areas that require proof documents, like voting, and Samsung is already using Paperless for company-wide management.
Paperless works by encrypting and storing large volumes of documents at a separate server and recording only the hash value on the blockchain. All data history — from creation to revision and disposal of documents — is recorded on the blockchain in real-time. Because of this, Paperless is not only secure but can also address the slowdown of blockchain transactions caused by massive data volumes.
Samsung SDS clients can use Paperless and the standard API without having to set up additional systems. The company already uses Paperless for managing and securing salary contracts for its own employees, as well as for company-wide voting.
Samsung wants to ‘deliver new values’ for its clients, which is why the company plans to expand upon Paperless and provide an even wider range of cloud-based blockchain services such as cloud-based payments and identity authentication.