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Electronics Manufacturing giant Samsung is considering a blockchain platform to manage and track shipments of its vast network global supply chains.
Samsung Electronics, the world's largest manufacturer of chips and smartphones, is considering a broad implementation of a blockchain platform to track its global shipments.
Speaking to Bloomberg, Song Kwang-woo, blockchain leader at Samsung SDS – the Samsung's computer subsidiary – revealed that a blockchain system could cut shipping costs by 20%.
Notably, the executive also confirmed that SDS is working on the development of the blockchain platform for Samsung Electronics, placing it among the world's leading manufacturers to seriously explore the applicability of blockchain technology to a such scale.
SDS has a proven track record in implementing blockchain technology for logistics and shipping. successfully completed a 7-month pilot project to record and track marine logistics of imports and exports in Korea.
Samsung SDS song added:
This will have a huge impact on the supply chains of manufacturing industries. Blockchain is a basic platform to fuel our digital transformation.
The report suggests that the SDS expects to handle 488,000 tonnes of air freight and 1 million 20-foot equivalent (EVP) shipping units in 2018. Shipments include everything Samsung's flagship devices like the Galaxy S9 and the next 9, as well as the OLED displays used by Apple iPhoneX, to electronics and more.
Beyond tracking shipments, a blockchain platform could even reduce the time and increase efficiency between product launches and their shipments to end users.
Delivering blockchain technology
While the details of Samsung Electronics' incursion in the use of decentralized technology remain slim for the time being, Samsung SDS has developed and deployed 'Nexledger', its own blockchain platform for businesses and businesses more than a year ago.
In May 2017, SDS launched a pilot blockchain for the Korean marine industry to track real-time cargo imports and exports by leading a consortium including the Korean Ministry of Oceans and Fisheries, customs service Korean, the technology giant IBM and the major cargo operator Hyundai Merchant Marine, among others.
Samsung SDS, who is also a member of the Enterprise Ethereum Alliance ( EEA ), successfully completed his first essay from an expedition that saw the entire process of a shipment, including booking and delivery, from Korea to China. As mentioned above, the SDS concluded its pilot project at the end of 2017, which ultimately aims to address "all exports and imports" in Korea with the help of blockchain.
In November 2017, the Seoul Metropolitan Government, capital of South Korea, chose Samsung SDS to develop a roadmap and deploy blockchain technology for the entire administration of the city ] as a means of improving transparency. The Seoul city government has already announced its intention to apply blockchain technology to "all of the municipal administration" by 2022.
Image from Shutterstock.
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