Samsung, the South Korean electronics and software giant, announced Knox Matrix, its new security solution, at its developer conference (SDC). It is a 'private blockchain' style security system to secure its devices.
With so many digital appliances, smartphones aren't the only ones prone to threats related to the digital universe. Today, most people are connected to one or more digital ecosystems, which can cover several devices. With the increase in the number of smart homes and IoT devices, it is quite challenging to ensure that every device connected to the network is secure.
Samsung Matrix aims to enhance the security of this environment of several connected devices with the help of blockchain technology. It allows each smart device to monitor the activities of the other connected devices and share access data. This system makes the log-in process more secure via 'multi-layered mutual monitoring.'
The term Internet of Things broadly addresses any device or thing connected to a network of other devices or things. For example, a home with a connected doorbell, speakers, television, lights, stove, refrigerator, etc, will come under the ambit of IoT.
With the Internet of things gaining more and more popularity and the devices having a system to connect with the network, the threat has also considerably surged. The entire device ecosystem is vulnerable as it doesn't even take much to result in a compromise in these devices. Just one device to be at risk, and the entire ecosystem would be as good as its weakest link.
A breach in security can be the biggest threat to IoT in the coming era if we don't prioritize it early on. With this new security system, Samsung offers a solution to this problem by using blockchain technology to secure these connected devices.
One of the major reasons behind the popularity of blockchain technology in this sector is that the data accumulated within a blockchain, which we also refer to as a distributed ledger, cannot be altered without altering the block before or after it.
Samsung introduced this technology as a revision of its existing security strategy. However, the firm did not provide more details on the inner working of the system as of now.
It emphasizes that using this system to link a phone to another smart gadget, like a TV, or a smart air conditioner, would make these systems less vulnerable to any threat or compromise.
Samsung further mentioned that the Knox Matrix system would automatically transfer the login status to devices that need it to join the network across the home. This system will considerably simplify the login procedures across the entire ecosystem.