IoT, Meet Blockchain—Knox Matrix Is Samsung’s New Peer To Peer IoT Security Platform

Samsung recently announced at its developer conference (SDC) its new security solution, Knox Matrix, which uses blockchain technology to secure an ecosystem of devices. Samsung Knox is Samsung’s security platform that has made significant strides in mobile devices.

Our smartphones are not the only device vulnerable in today’s digital world. Most people are involved in one or more digital ecosystems that can span many devices. As the number of smart home and IoT devices continues to grow, it has become equally difficult to ensure that every device connected to the network is secure.

Samsung Matrix aims to improve the security of connected devices using blockchain technology. Let’s take a look at Samsung Matrix and what it means for the connected digital ecosystem.

IoT, meet blockchain

The Internet of Things (IoT) is a broad term for any device or thing that is connected to a network of other devices or things. The most relevant example is a house that is considered smart with a connected doorbell, speaker, television, stove, refrigerator, etc.

As IoT devices have grown in popularity and the number of IoT devices continues to grow, so do vulnerabilities within the ecosystem. Nor does it take much to compromise the security of an ecosystem. It only takes one device to compromise an ecosystem of connected devices, and you are only as good as your weakest link. These vulnerabilities can be various issues, such as outdated firmware, within an IoT device that makes it vulnerable to attackers.

I think security could be one of the biggest setbacks to IoT in the future if it’s not made a priority early on. Samsung’s solution for securing connected ecosystem devices is the use of blockchain technology.

Blockchain technology has exploded within fintech over the past half decade due to its ability to secure and validate a payment on a blockchain. One of the reasons it’s so great for fintech is that the data collected in a blockchain, also known as a distributed ledger, is immutable within the sequence without changing the block before or after it. It is a data chain that is validated by the data block before and after it.

Knox Matrix

Samsung’s Knox Matrix implements a private blockchain within one’s ecosystem of devices. Samsung says a user’s connected devices have enhanced security through multi-layered mutual monitoring. Knox Matrix creates a chain of trusted devices, regardless of operating system, and the more devices within the ecosystem, the more secure; there are more chains of trust. Samsung says the initial rollout of Knox Matrix will be exclusive to Samsung devices, with possible support for third-party products with a developer SDK.

While blockchain technologies within fintech have exploded recently, there are more scams related to blockchain than there are real use cases and innovative solutions. This statement speaks for itself, many incredible technologies within fintech and cryptocurrency have yet to change the world. I believe Samsung has a real-world use case here with blockchain that does address the need for more security within IoT.

The highest value proposition is inherent in blockchain technology; the more devices connected to the Knox Matrix, the more secure the ecosystem becomes. The IoT space is predicted to expand even more in the coming decade, and Knox Matrix, of course, is scaling with it.

Knox Matrix also improves security by monitoring mutual threats from trusted devices. Every device within the Knox Matrix is ​​held accountable by the other devices in the ecosystem. It also protects sensitive information by sharing credentials from device to device and makes login and payment processes easier due to the secure and decentralized nature of how data (sensitive data) is stored on the blockchain.

Shut down

It’s interesting to imagine that someone has access to your banking information because they accessed your computer through your refrigerator. I believe that IoT devices will continue to be popular and should continue to grow within the home.

Samsung addresses the lack of security within IoT with Knox Matrix and secures an ecosystem of devices via a private blockchain. The best thing about Knox Matrix is ​​that it only gets better and safer as more devices are added to the connected ecosystem.

Note: Moor Insights & Strategy co-op Jacob Freyman contributed to this article.

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