Samsung Electronics to Implement a Blockchain System for its Logistics Network
The South Korean giant Samsung plans to design a blockchain network in order to ensure a more efficient organization of the delivery process of electronic goods.
The largest player on chipmaker and phone manufacturer market, Samsung Electronics, has announced that one of the company’s options to manage its shipments better is to create a blockchain ledger platform. According to Bloomberg, the Blockchain Chief at Samsung SDS, Song Kwan-woo has revealed that a new virtual network will reduce the delivery costs by 20%.
Samsung SDS will take care of the Samsung Electronics’ blockchain platform
Additionally, the Executive Chief at SDS has stated that the Samsung’s IT subsidiary will manage to entirely design the new platform for Samsung Electronics, becoming thus, one of the first companies to lead such a huge project.
“It will have an enormous impact on the supply chains of manufacturing industries. Blockchain is a core platform to fuel our digital transformation”, stated Song Kwan-woo.
According to an official report, SDS “expects to handle 488,000 tons of air cargo and 1 million 20-foot-equivalent (TEU) shipping units in 2018”.
The new blockchain system to be deployed will be dedicated to all products manufactured by Samsung Electronics, including home electronics. In addition to streamlining the delivery process, a considerable reduction of the distance between the product completion and the customer is expected.
Samsung SDS has completed a blockchain pilot platform for Korean shipment industry in December 2017
Samsung SDS is not at its first involvement in blockchain activities. The company was remarked in December 2017, when it successfully completed a blockchain system implementation within the South Korean logistics industry.
The company has released a blockchain pilot project in South Korea dedicated to logistic industry. It aimed at importing and exporting in real time, due to a partnership between the Korea’s Ministry of Oceans and Fisheries, the Korea Customs Service, IBM and Hyundai Merchant Marine, a leading freight supplier.
As a remember, Samsung SDS is part of the Enterprise Ethereum Alliance (EEA) since May 2017.
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