In major support of blockchain technology, the globally renowned manufacturer of smartphones and biggest chipmaker, Samsung Electronics, is planning an extensive execution of a blockchain ledger platform to keep track of its international shipments.
In major support of blockchain technology, the globally renowned manufacturer of smartphones and biggest chipmaker, Samsung Electronics, is planning an extensive execution of a blockchain ledger platform to keep track of its international shipments. In an interview with Bloomberg, the head of the blockchain department at Samsung SDS, Song Kwang-woo, stated that adopting a blockchain system could cut shipping expenses by 20 percent. Samsung SDS serves as the IT arm of the Samsung Electronics.
The IT executive also revealed that SDS is on the verge of creating a state-of-the-heart blockchain system for Samsung Electronics. This move places Samsung among the first internationally renowned manufacturers to pursue the application of blockchain technology at such a big scale seriously.
SDS has stamped its authority in the logistics and shipping sector, especially when it comes to implementing blockchain technology. For instance, in December 2017, it successfully completed a 7-month project in Korea’s large shipping industry that saw documentation and tracking of exports and imports.
Samsung SDS’ Song is certain that blockchain technology will significantly influence the supply channels of manufacturing sectors. The blockchain is a major platform that will drive digital transformation in the ever-growing business world.
The report confirms that in 2018, SDS is likely to handle air cargo of 488,000 tons and 1 million shipping units. The shipments comprise of flagship Samsung devices such as the Galaxy S9 and the forthcoming Note 9. They will also include OLED displays utilized by Apple iPhone X as well as home electronics. In addition to tracking shipments, a well-developed blockchain platform could even minimize the time and optimize efficiency between the launch of products and their delivery to end users.
Although details of Samsung Electronics expedition into taking advantage of the decentralized technology are still not clear, Samsung SDS created and implemented Nexledger, its own innovative blockchain system for businesses and enterprises more than a year ago.
In May last year, SDS led a consortium comprising of the Korea Customs Services, Hyundai Merchant Marine, IBM, and Ministry in charge of Oceans and Fisheries in Korea, to launch a blockchain pilot that could aid real-time tracking of exports and imports of cargo shipments by Korea’s shipping sector.
As a measure for improving transparency and enhancing citizen convenience, Seoul City’s metropolitan government contracted Samsung SDS to create a roadmap and implement blockchain technology to the entire administration of the city. The government had previously expressed its intention to implement blockchain technology throughout the whole metropolitan administration by 2022.