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Samsung Electronics Turns To Blockchain For Optimising Its Supply Chain Network

Stefan by Stefan
16/04/2018
in Blockchain Archive
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The electronics manufacturing giant Samsung has finally considered a blockchain platform that will manage and keep track of the shipments in its global supply chain network. This comes as a significant endorsement of blockchain technology from one of the largest technology providers around the world.

Is this happens, the blockchain ledger platform will be broadly implemented in order to track the global shipments. The blockchain chief at Samsung SDS (the IT subsidiary of Samsung), Song Kwang-woo, recently spoke to Bloomberg, revealing that their blockchain system could reduce the shipping costs by 20%.

Kwang-woo also pointed to the fact that SDS must adapt to the blockchain platform – and will do that in the following years. He said that currently, SDS is working on developing the blockchain platform for Samsung Electronics after which it will be placed among the top global manufacturers. That way, the platform will explore the applicability of blockchain at as massive scale.

So far, SDS has proven their experience in implementing the blockchain technology. Their biggest success (December 2017) was implementing it in the logistics and shipping industries – concluding a 7-month pilot project that would record and track shipping logistics of imports and exports in the massive shipping industry in Korea.

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Samsung’s SDS’ Song also noted:

It will have an enormous impact on the supply chains of manufacturing industries. Blockchain is a core platform to fuel our digital transformation.

According to the report, SDS will rely on blockchain to handle 480,000 tons of air cargo and millions of shipping units in 2018. The shipments will include everything from chipsets to Samsung devices – some of which including the Galaxy S9 and the upcoming Note 9.

In the end, this is another proof that blockchain is designed to reduce the time and ramp up the efficiency of product launches and their shipments to the end user.

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DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Tags: Blockchain Newsblockchain shippingfeaturedsamsung blockchain
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Stefan

Stefan

Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.

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