Published On: Mon, Apr 16th, 2018

Samsung Delves Deeper into Crypto Exploring Blockchain for Its Logistics

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Samsung Electronics Co. is the latest big name to show a keen interest in the powers of blockchain technology, specifically, how it can be incorporated into their supply chain management processes.
Even though cryptocurrencies may still be getting critiqued, it’s supporting technology is being more readily adopted. The advantages of blockchain such as security and immutability, are major drawcards for companies that rely heavily on record keeping, such as healthcare, finance, and even art.
Blockchain to aid in shipping
However, it is also a viable option for supply chain management, an option that massive electronics corporation, Samsung, is ready to explore. According to Bloomberg Quint, the company’s logistical and information and technology branch, Samsung SDS CO., could use a blockchain ledger to monitor their billion-dollar global shipments sector.
Song Kwang-woo, the blockchain chief at SDS, touched on how the technology could revolutionize other businesses:
It will have an enormous impact on the supply chains of manufacturing industries. Blockchain is a core platform to fuel our digital transformation.
A cost-effective way of working
A part of this digital transformation is working towards a paperless way of doing business. Not only are physical documents annoying, they& …

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