Samsung Electronics is exploring the implementation of a blockchain platform to manage its vast, global, supply-chain network.
As mentioned in a previous Crypto World Journal article, (https://www.cryptoworldjournal.com/korean-tech-giant-samsung-is-producing-asic-chips-for-halong-mining/), Samsung has been highly interested in the implementation and development of blockchain technology. Song Kwang Woo, Blockchain Chief at Samsung SDS (the IT subsidiary of Samsung) revealed the intentions of SDS to implement a blockchain ledger platform to keep track of its global shipments, with an efficiency never seen before, when speaking to Bloomberg.
This declaration places Samsung Electronics among the more enthusiastic companies when it comes to the implementation of blockchain systems. Manufacturers’ exploration of the applicability of blockchain systems at this scale is something that has never been tried before. According to Kwang Woo, this technology could cut shipping costs by 20 percent.
Certainly, SDS has proven to be the more qualified to try this enormous task. Last year, Samsung successfully created a 7-month pilot project to record and track the logistics of the imports and exports of Korea´s shipping industry.
“It will have an enormous impact on the supply-chains of manufacturing industries. Blockchain is a core platform to fuel our digital transformation … SDS expects to handle 488,000 tons of air cargo and 1 million 20-foot-equivalent (TEU) shipping units in 2018”
Shipments including the Galaxy S9 and the upcoming Note 9, as well as OLED displays used by Apple’s iPhone X would benefit with this technology, not only in tracking efficiency, but in reducing the time between the launch and the shipment of products, and even reducing the cost of the whole project, ultimately benefiting the end user.
by Samuel Larreal
