Laminated steel is becoming increasingly more common. Typically they'll use a core of a steel that is less corrosion resistant, but has better edge holding abilities. This then gets surrounded by a steel with better corrosion resistance qualities. The result is an extremely durable blade with a combination of the better qualities of each steel.

It actually seems to work quite well. Fallkniven has been doing it for a number of years and their blades have been thoroughly real-world tested.