Samsung Explores Blockchain for Tracking Global Shipments
Electronics giant Samsung is mulling the use of a blockchain system to manage its international supply chains, according to a report.
Samsung isn’t the only major firm to be going to adopt blockchain technology. Big names such as IBM, NTT Data and Air France have all been operating to deliver efficiencies and transparency .
Turning to some system is expected to allow the firm allow it to respond quickly to market moves, and to reduce costs, for example delivery documentation that was costly.
According to the report, SDS will send around 500,000 tons of air cargo and about 1 million transport containers in 2018 – products.
Samsung picture via Shutterstock
“It has a massive effect on the supply chains of production industries.
Bloomberg expects that the transfer may slash transport prices, and reported Monday that Samsung Electronics is reported to be already building a ledger system to track shipments.
Samsung SDS, the team’s logistics and IT subsidiary, is allegedly growing the platform.
And last month, Chinese petrochemical giant Sinochem successfully used blockchain to track a gasoline dispatch.
The chief in blockchain information, CoinDesk is a media outlet that tries for the highest journalistic standards and abides by a strict group of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Samsung Explores Blockchain for Tracking Global Shipments - April 2024
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