Samsung SDS, the information and communication technologies (ICT) arm of Samsung, launched a new service named Paperless to provide reliability and transparency of documents in a cloud environment.
Launched as a cloud-based blockchain-as-a-service (BaaS) solution for enterprises, Paperless manages sensitive documents such as contracts, consent forms and certificates on blockchain to prevent forgery and falsification. According to the official announcement, the new service can be used in various fields such as voting or tasks that require various proof documents.
Paperless also enables the management of documents that need to be disposed of after a certain period by encrypting and storing sensitive or large-volume data at a separate server, only keeping the hash value of each data on blockchain.
Since all data history such as the creation, revision and disposal of documents is recorded on the blockchain in real time, this design combining on-chain and off-chain technology addresses “the slowdown of blockchain’s transaction speed due to massive volumes of data,” the