Samsung and Sony Invest in Blockchain Projects

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Samsung and Sony have both invested in blockchain projects in recent days as the industry continues to attract top tech names. Digital Asset, a fintech firm, and security token issuer Securitize are the beneficiaries of the investments, with both tech giants keeping a close eye on developments in the blockchain space.

Digital Asset Gets Samsung Investment

Samsung Venture Investment Corp joined Salesforce Ventures in participating in the latest round of investment for Digital Asset, a fintech company hoping to develop its own smart contract modelling language, DAML. This latest round of financing exceeded $35 million, with Digital Asset co-founder and CEO Yuval Rooz stating that, “Salesforce Ventures and Samsung joining our Series C financing round demonstrates the potential that technology giants see in DAML as the standard for smart contracts.”

Digital Asset has a number of blockchain partnerships as well as non-blockchain backers, having contracts to utilize Hyperledger Fabric and Amazon QLDB among others. Samsung were famously the first mainstream smartphone maker to offer a crypto wallet as standard in their flagship phone, the Galaxy S10, and this investment shows their continued commitment to the space.

Sony Favors Security Token Issuer

Sony meanwhile has contributed to a $14 million raise for Securitize, a firm founded in 2017 that helps businesses issue compliant security tokens, through its investment arm, Sony Financial Ventures (SFV). Santander InnoVentures and Blockchain capital also contributed to the raise, which, according to Securitize CEO and co-founder Carlos Domingo, illustrated the part that securities will play in the blockchain revolution:

The investment validates Securitize as one of the most important architects of digital capital markets while adding another marquee name to a growing list of companies who are investing in digital securities as the future of global capital markets.

Security Tokens’ “Astonishing Abilities”

SFV director Junji Nakamura meanwhile lauded the “astonishing abilities” of the new asset class provided afforded by securitize and the concept of a security token. High praise indeed for a fledgling offshoot of an already young industry.

Sony itself is no stranger to blockchain, having created a contactless hardware wallet and applied for a mining equipment patent, both in 2018.